The Department of Housing Preservation and Development spends Millions or Billions of Federal and Taxpayers dollars without responsible Government oversight. These funds are provided by bonds floated by NYC Government to investors through companies like Goldman Sachs and J.P. Morgan. More funding comes through Federal Housing Urban and Development Agency and NY Housing Development Corporation. The money is being wasted on a significant lack of supervision through faulty and systemic corruption as well as cronyism family hiring. There is a trend over the decades of hiring newly graduated college grads to high positions to hide deep seated corruption because they are not experienced enough to catch the money flows. Organized crime is also a huge factor showing recent arrests. The Genovese and Lucchese Crime families are running the contractors, bidding and holding of real estate properties as well as Development companies. Millions if not Billions could be saved by Federal Oversight and Law Enforcement Agencies taking charge here.