Michigan has the least elite elites in the nation
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.
Thanks 10x25MM. At no time should any tax money be used. Start with revoking all pensions of everyone involved. Let's not forget the negligence of then Ingham county pros. And AG (both now running for Gov.) And two former govs running MSU. All these Gov's and Gov wannabes-- anyone see a problem?
I'm still stewing over this. Settlement was made by closed-door mediation. It still has to be approved by a judge. In mediation--questions of governmental immunity, negligence and fraud are ignored--that is everyone involved from top down are personally responsible for these damages.. Anyone who acts outside the duties of their oaths of office, are not clothed in the blanket of governmental immunity. The public was denied judicial review of defendants who lost that blanket of governmental immunity. This issue is important to us taxpayers in a settlement situation because damages should be assigned to the bad actors, not the taxpayers. A resigned President given a severance package worth over $1 Million a year, should not continue to be richly rewarded for the rest of her life. This entire severance package should contribute to this settlement. The MSU board is bonded and that bond should be tapped for this settlement. The Dr. overseeing Nasser, should contribute his pension and malpractice insurance (which I'm sure MSU paid for) towards this settlement. And, the Whistleblower MSU police Chief, should get his share of the settlement for being the only person at MSU who did his job. The circuit Court judge must not agree to this settlement (enter a judicial order) until its decided how this will be paid. The victims and Taxpayers have equal skin in this settlement.
Why do you think that John Engler was brought into the equation in the first place?
Hold onto your wallets and don't be too surprised in the not-so distant future when someone in the Michigan Legislature comes up with the brilliant idea to use the state's general fund to extricate MSU from this tar baby.
Oh, and in case anyone had missed it, a dyed in the wool liberal deviant over at Wayne State was just recently "outted" for his own personal behavior with women.
Keep that money flowing to higher ed...they'll be needing a lot of it very soon!!!