Deloitte & Touche, a globally placed consulting (accounting) firm allied with the major banksters around the world, has a history:
But it turned out that this error rate had been calculated with the help of several consultant firms regulators had ordered the banks to hire. Regulators had mandated the hiring of these "independent" consultants back in 2011, and the list of companies included Promontory Financial Group, PricewaterhouseCoopers, Ernst & Young, and Deloitte & Touche. These private firms were hired to review the banks' loan files in search of errors, and collectively were paid by the banks over $2 billion, a staggering sum which ultimately worked out to over $20,000 per file.
With such highly-paid help, it would seem impossible that these consultants could screw up so simple a task as figuring out how many of these mortgage files were corrupt. Regulators came up with the 6.5 percent number this past January, then shortly afterward revised the number downward, saying that only 4.2 percent of some 100,000 mortgage files reviewed were compromised.
As Matt Taiibi observed in his article on housing foreclosures in the Rolling Stone:
Now it comes out that not only were these consultants not so independent, not only did they very likely skew the numbers seriously in favor of the banks, and not only were these few consultants paid over $2 billion (over 20 percent of the entire settlement amount) while the average homeowner only received $300 in the deal – in addition to all of that, it appears that federal regulators will not turn over the evidence of impropriety they discovered during these reviews to homeowners who may want to sue the banks.
In other words, the government not only ordered the banks to hire consultants who may have gamed the foreclosure settlement in favor of the banks, but the regulators themselves are hiding the information from the public in order to shield the banks from further lawsuits.
And the State of Washington, in its turn, hires Deloitte and Touche to build its electronic infrastructure for the state's health benefit exchange. What could go wrong with that?
Deloitte LLP officially signed a $54.85 million deal Wednesday to build the infrastructure of Washington state’s Health Benefit Exchange.
The deal, covered in an article in the April 20 print edition of the Puget Sound Business Journal (subscription required), will include systems security, database design and integration with the state’s current Medicare and Medicaid systems, among other things, according to the contract the Puget Sound Business Journal obtained through an open records request.
Oh, plenty:
Washington state’s health-insurance exchange is withholding payments to its primary technology contractor, Deloitte, as a result of repeated problems with the Washington Healthplanfinder website and the exchange’s payment and accounts systems.
While Healthplanfinder — at wahealthplanfinder.org — has been more stable during the current open enrollment period than in the first enrollment last year, glitches continue to plague the site.
I almost had to resuscitate a very dear friend who nearly had a heart attack when she was one of the the victims of the Deloitte out of touch touch.