lost $450 billion in fiscal 2006 according to DAVID M. WALKER, Comptroller General of the United States, Government Accountability Office, Washington. His Letter to the Editor.
The largest employer in the world announced on Dec. 15 that it lost about $450 billion in fiscal 2006. Its auditor found that its financial statements were unreliable and that its controls were inadequate for the 10th straight year. On top of that, the entity’s total liabilities and unfunded commitments rose to about $50 trillion, up from $20 trillion in just six years.
I mentioned this yesterday here.