College Formerly Run by Bernie Sanders’ Wife to Shutdown Under ‘Crushing’ Debt

Discussion in 'Politics, Religion, Social Issues' started by thewap, May 17, 2016.

  1. thewap macrumors demi-god

    thewap

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    #1
    Socialist genius financing ?

    Vermont’s private Burlington College announced Monday it was shuttering its doors later this month because of a “crushing weight of debt” amassed under Bernie Sanders’ wife who formerly served as the school’s president.

    Jane Sanders ran the liberal arts college for seven years, taking out a $10 million loan in 2010 on the school’s behalf to purchase 32 acres of lakefront property in an attempt to draw donations.

    The plan ultimately fell through, placing the school under irreversible financial stress. Burlington’s Board of Trustees voted last week to halt the school’s programs May 27, the Burlington Free Pressreported.

    “It is with great sense of loss to the educational community that Burlington College’s progressive and unique educational model will no longer be available to students,” Dean of Operations and Advancement Coralee Holm said in a statement.

    He said current students will be relocated to neighboring institutions to complete their degrees.

    Sanders, who took over the school in 2004, resigned in 2011 and secured a $200,000 severance deal.

    The regional accreditation agency, the New England Association of Schools and Colleges, place Burlington College on probation in 2014 because of a laundry list of deficits that the school was unable to repay.

    The board decided to close the school after the agency notified officials that they would not renew its line of credit, which would remove the college’s accreditation in January 2017.

    http://freebeacon.com/issues/vermon...n-bernie-sanders-wife-shutdown-crushing-debt/
     
  2. steve knight Suspended

    steve knight

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  3. jkcerda macrumors 6502

    jkcerda

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    #3
    She tried and failed. Can't blame her for trying
     
  4. thewap thread starter macrumors demi-god

    thewap

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    #4
    Claimed scams, not proven yet.
    10 million for 32 acres to promote donations? Thats $312,000 per acre...

    Wonder what the monthly loan payments were on that...o_O
     
  5. jkcerda macrumors 6502

    jkcerda

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    #5
    Location and use. I am guessing she consulted a board before just buying the land and they might have agreed it was a good buy depending on what was proposed
     
  6. steve knight Suspended

    steve knight

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    #6
    lucky for trump but some green and it will go away as usual. but tell the people ripped off it did not happen.
     
  7. thewap thread starter macrumors demi-god

    thewap

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    #7
    She should have built a Trump resort and made some money.
    --- Post Merged, May 17, 2016 ---
    Same people who are suing are recorded on tape saying it was great, and signed feedback forms saying the same.
    As far as a civil suit for them...Good luck on that.:D
     
  8. rdowns macrumors Penryn

    rdowns

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    #8
    Shhh, Bernie is so against severance deals like this. Now you know why he only released one year of his tax returns.
     
  9. jkcerda macrumors 6502

    jkcerda

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    #9
    He is? Source please
     
  10. thermodynamic Suspended

    thermodynamic

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    #11
    True.
     
  11. SHNXX macrumors 68000

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    #12
    I like how socialism works via unequal distribution of the severance package.
     
  12. thermodynamic Suspended

    thermodynamic

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    #13
    Shnxx, Ayn Rand pointed out that one could partake in the system she loathed because she was forced to pay into it. Her supporters say that and other things regarding her taking social security and medicare in her husband's name. So if she could prove that, why would the Bernie wife severance pay issue be an issue? Among other issues from any number of candidates?
     
  13. ericgtr12 macrumors 6502a

    ericgtr12

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    #14
  14. NT1440 macrumors G4

    NT1440

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    #15
    Please, elaborate how this private college was run under a socialist framework.

    Hint: The PRIVATE college....:rolleyes:
     
  15. ericgtr12 macrumors 6502a

    ericgtr12

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    #16
    You're going to need to use smaller words.
     
  16. rdowns macrumors Penryn

    rdowns

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    #17
  17. NT1440 macrumors G4

    NT1440

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    #18
    Dr. Hibbert: Homer, I'm afraid you'll have to undergo a coronary bypass operation.
    Homer: Say it in English, Doc.
    Dr. Hibbert: You're going to need open heart surgery.
    Homer: Spare me your medical mumbo jumbo.
    Dr. Hibbert: We're going to cut you open, and tinker with your ticker.
    Homer: Could you dumb it down a shade?\




    Made me think of this
    :p
     
  18. FieldingMellish Suspended

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    #19
    I read that they want to launch an investigation into Mrs. Sanders. If the bank was defrauded, it could mean 30 years in prison and 1 million in fines.
     
  19. bent christian Suspended

    bent christian

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    The vice-chairman of the Vermont Republican Party says he is asking federal authorities to investigate Jane Sanders and her term as president at Burlington College for possible federal bank fraud.

    Ha, ha. OK.
     
  20. steve knight Suspended

    steve knight

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    #21
    too bad she can't pay them off like trump can
     
  21. FieldingMellish Suspended

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    #22
    ha ha, he's the hired attorney for the ripped-off parishioners.

    "Catholic parishioners in Vermont want an investigation into Ms. Sanders actions, suspecting she committed federal bank fraud by deliberately misrepresenting the amount of fundraising pledges she claimed would help the college pay back the loans."

    She insisted over and over that the college had obtained over $2 million in fundraising commitments and pledges.

    "Brady Toensing, the vice chair of the Vermont Republican Party, acted as attorney for Catholic parishioners and contacted the U.S. attorney in Vermont and the inspector general of the Federal Deposit Insurance Corporation, urging them to launch an investigation."
     
  22. thewap thread starter macrumors demi-god

    thewap

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    #23
    In 2011 alone, Sanders reported on the loan application that they had over $1.3 million in confirmed donations. An audit of the school's finances posted online by a news organization showed contributions of only $127,655.

    Ruh Roh...:cool:
     
  23. aaronvan Suspended

    aaronvan

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  24. FieldingMellish Suspended

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    #25
    Ahhh, but for the irony.

    Hillary will not touch this glaring opportunity against Bernie in news item or debate, because the last topic Hillary wants brought up is an investigation.
     

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