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Ranchers.net

The accounting scandal now haunting the National Republican Congressional Committee was preceded by a series of decisions over the past decade to relax internal financial controls at the committee, according to numerous Republican sources familiar with the NRCC's operations during those years.
Under Virginia Rep. Tom Davis and New York Rep. Thomas Reynolds, who chaired the committee from 1999 until the end of 2006, the NRCC waived rules requiring the executive committee--made up of elected leaders and rank-and-file Republican lawmakers--to sign off on expenditures exceeding $10,000, merged the various department budgets into a single account and rolled back a prohibition on committee staff earning an income from outside companies.

Rep. Mike Conaway (R-Texas), a certified public accountant, had pushed for months for an internal audit of the National Republican Congressional Committee, according to GOP members, but the committee's treasurer at the time was reluctant.
Finally, at a recent meeting, the now former NRCC treasurer, Christopher J. Ward, relented, giving Conaway what was supposed to be an official internal audit from 2006. That document was a fake, the GOP members said. Even the letterhead on which it was sent was a forgery.

The NRCC is now conducting an outside audit of their finances; the damage is as yet unknown.

I guess that's what you get when you combine a culture of corruption with anti-regulatory rhetoric, eh? :???:

Kind of reminds me how this country got into the economic shape its in today...... :( :mad:
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