Political Quotes

“We actually had testimony from the accounting and the investment field. We asked them if they knew of any $1.8 trillion or even a $1 billion company publicly held in the last year, the last 2 years that had failed their audit to the extent that the Department of Education had, where they have not had a clean audit for 2 years and do not expect a clean audit for 3 more years and they said, ``We can't think of one.'' Because what would happen if you were in the private sector and the auditors failed your audit, most likely the value of the stock would drop significantly immediately. The other thing that would happen is most likely the Securities and Exchange Commission would suspend the trading of your stock, because you could not with any reasonable certainty go to your shareholders and indicate that what you represent in your financial statements in any way reflects the real world. Let us take a look. The Treasury Department, Justice cannot get a clean audit, Education, Defense, Ag, the EPA, HUD, OPM, AID. None of these can receive a clean audit.”