FASAB Standard 56 ! Who would’ve known !

“Essentially, what it says is there is a secret group of people, by a secret process, that can take a portion of the financial statements on the books and make them secret. You cannot know what a secret is and what is not.  So, when you look at financial statements at the Department of Defense, essentially, they are meaningless because you don’t know what has been cut out. When you add this to the other laws that they promulgated that allows them to classify income flows and allow the private contractors and banks freedom from complying to SEC regulations, what you’ve just done . . . is taken the vast majority of the U.S. securities market dark.”  Greg Hunter – USA Watchdog – link

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