Thread: You Thought the Market Took Your Money?

One of our readers emailed this to me, saying "Whenever you feel bad that you may have given some questionable advice just take heart in the fact that you couldn't have lost anywhere near the money for enrollees that the Board entrusted with that money did....

Investigation spreads blame for mishandled TSP upgrade

http://www.govexec.com/dailyfed/0704/070804a1.htm

"The record system upgrade, started in 1997, should have cost a total of $29.7 million, according to an estimate prepared by the Government Accountability Office (formerly known as the General Accounting Office).


AMS spent $65 million over four years working on the project, according to the senators. Only $1 million worth of that work ended up having any value to Matcom when the company took over the project in early 2001, the letter noted. "