This is disgraceful: Inspector General reports that HUD can't be audited due to poor records. The people responsible for this failure should be prosecuted. Government that is both big and incompetent is the worst of both worlds. It seems incapable of competence, so it needs to be shrunken drastically.

A government watchdog says it can't audit billions in Department of Housing and Urban Development (HUD) spending because the agency's financial books are kept so poorly.

HUD's financial statements and systems are missing records, inaccurate and sometimes even violated federal laws, according to a HUD inspector general report released Monday. Included among the programs with useless financial accounting records is nearly $20 billion at the Government National Mortgage Association.

Try this with the IRS in April and see what happens.

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