Who exactly is going to pay the $ 500 million that MSU just agreed to pay to 332 victims of Dr. Lawrence G. Nasser?
MSU says they can’t tap their $ 3 billion endowment, which was the focus of former President Lou Anna K. Simon (and why she wasn’t paying any attention to Nassar and Strampel).
This bleed will probably eclipse that of the Flint water fiasco. From the Detroit Free Press:
The settlement, which covers all 332 current claimants, will cost Michigan State $500 million. The school will pay $425 million now and hold $75 million in reserve in case other Nassar victims come forward.
MSU will now work on how it will pay the settlement, MSU spokeswoman Emily Guerrant told the Free Press.
Survivor attorney James White said this is a chance for the survivors to begin to move forward.
“I don’t think they can ever be made whole, but this is a step in the right direction,” he said.
The settlement was announced Wednesday, after the Detroit Free Press published news of the settlement, following two days of closed-door mediation sessions between lawyers for the university and the survivors.
Terms of the settlement are as follows:
• $425 million dollars will be paid to all current claimants
• $75 million dollars will be set aside in a trust fund to protect any future claimants alleging sexual abuse by Nassar
The settlement was approved by the MSU board in a conference call Tuesday night.
I underestimated the costs here by $ 25 million, when adjusted for the additional claimants who have come forward.
Strampel’s cases are not part of this settlement, so there is more bleeding to come.
This disaster is on the Democrats, exclusively.
Michigan has the least elite elites in the nation.
You Betcha! (12)Nuh Uh.(1)