POLITICS NRA files for bankruptcy

Newboomer

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Power corrupts. The more power, the more corruption. A few insiders with sticky fingers controlling too much. I hope they can pull through this and regain the footing they had in years past. We need their power with politicians and antis to survive but it is way past due for new leadership with a fresh outlook.
 

Wheels

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Where were the auditors?

Not sure about their auditors, but I think it was the auditors that brought up all the issues with LaPierre a couple years ago. Board members quit and more were added. The board allowed LaPierre to stay.

Their law firm quit them around that time.
 

WAB

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Way past time for LaPierre to go.
 

Larry Shores

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All:

This is a tactic which is commonly used . It may help escape from or renegotiate contracts . It also limits the amounts, if any , that the NYAG might be able to get .

Don’t get me wrong. I think there definitely some problems. This seems like a wise move to me.
 

Larry Shores

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I work in the Controllership office of a government Ministry. I would love to see their finances:

How on earth can an organization that gets so much fundraising and donation support throughout the United States possibly manage to find themselves bankrupt?

This stinks of all those charities in the era before auditing by Deloitte and other firms where it eventually came out that they put 98%of their money to executive and internal salaries.

A $64 million loss to internal misappropriation?
Where were the auditors?
Where were the financial controls?

Significant donors (which I assume are spread over many years and various states) with records of those transactions should consider a class.

I'm not even American or one that necessarily buys into the US brand of firearms rights, but that money should be considered stolen and needs to be recovered. Put it into the organisation that replaces the NRA.
Auditors express their opinion as to whether the financial statements are materially correct . They do not pass judgment on expense accounts, travel, etc unless specifically engaged to do so. I am an auditor .
 

Ridgewalker

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“Drain the swamp” in the NRA as well as Washington DC. Same issues IMO. People go thinking they can make a change, then discover they can get rich and live on “easy street” at other’s expense.
Very sad.
 

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