Burlington College Closes Due To Debt Acquired By Bernie Sanders wife

2016-05-16 17:37:37

#1

SuperJail Warden: Gone Forever; +641|3966

Burlington College announced today that it will close on May 27 after it found itself unable to recover from “the crushing weight of the debt” incurred under Jane O’Meara Sanders, the college’s former president and wife of Bernie Sanders.

At the end of 2010, Ms. Sanders took out $10 million in loans on behalf of Burlington College to purchase a 32-acre swathe of land from the Roman Catholic diocese, which put the land up for sale to help cover the costs of a $17 million sexual-abuse settlement.

As Heat Street reported last month, the college almost immediately fell short on its financial obligations as fundraising pledges and commitments Ms. Sanders cited in the loan agreements never materialized.

Less than a year after leading Burlington College into massive debt, Ms. Sanders resigned, taking with her a $200,000 severance package. By 2014, because of its shaky finances and running deficits, Burlington College found itself placed on probation for two years by the regional accreditation agency.

Catholic parishioners in Vermont have called for an investigation into whether Ms. Sanders committed federal bank fraud by deliberately misrepresenting the amount that the college had secured in fundraising pledges as she sought financing for the land purchase.

As Ms. Sanders pursued financing for the land acquisition, she repeatedly said that Burlington College had received more than $2 million in fundraising commitments and pledges, according to numerous records.

But in fiscal year 2011, Burlington College raised only $279,000—though the college had earlier claimed to have secured $1.2 million in confirmed pledges.

It is amazing how little coverage this story is getting in the mainstream press. Turns out the Sanders family is anything but nice humble people. I am so glad the true face of the Sanders clan is finally revealed

2016-05-16 17:43:17

#2

Jay: Bork! Bork! Bork!; +2,006|5605|London, England

I don't think it compares to sharing state secrets with a crony and overthrowing a government so he can be on the ground to profit.

"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat

2016-05-16 17:48:18

#3

pirana6: Go Cougs!; +691|6538|Washington St.

I hear everything went just peachy in Nevada with Clinton too.

2016-05-16 18:31:46

#4

SuperJail Warden: Gone Forever; +641|3966

good old whataboutism. bernie is obviously not the man he presented himself to be. of course a jewish family would commit bank fraud.

2016-05-16 18:47:27

#5

KEN-JENNINGS: I am all that is MOD!; +2,979|6879|949

honestly macbeth, how fucking hard is it to link the article in the post? You would think going to college would teach you to cite your sources. I hope it is something you will teach the young people you want to impregnate indoctrinate.

http://heatst.com/politics/breaking-bur … e-sanders/

there's the article. So far I only see it posted on right wing 'news' sites, but that doesn't mean it isn't true. I wonder why you didn't link it...?

Macbeth, the media has largely IGNORED Bernie. Why is it amazing that it continues to not really give Sanders airtime, even if for a negative reason?

Troll #1 - being amazed the media is continuing to not cover Bernie
Troll #2 - being glad the true face of the Sanders clan is showing (wtf does that mean)
Troll #3 - throwing in a little anti-semitism in repeating as fact an allegation

The only article I could find regarding the purchase mentioned the projected increased enrollment the new property would lead to as justification for the purchase. No mention of a) O'meara Sanders personally mentioning endowments/fundraising activities regarding the loan and b) a criminal investigation into the alleged "bank fraud".

https://www.insidehighered.com/news/201 … llege-edge

http://www.burlingtonfreepress.com/stor … /84439890/

maybe that's why your article is on heatst.com instead of NYT front page. Just a guess, but what do I know?

2016-05-16 19:13:15

#6

Jay: Bork! Bork! Bork!; +2,006|5605|London, England

KEN-JENNINGS wrote:
honestly macbeth, how fucking hard is it to link the article in the post? You would think going to college would teach you to cite your sources. I hope it is something you will teach the young people you want to impregnate indoctrinate.

http://heatst.com/politics/breaking-bur … e-sanders/

there's the article. So far I only see it posted on right wing 'news' sites, but that doesn't mean it isn't true. I wonder why you didn't link it...?

Macbeth, the media has largely IGNORED Bernie. Why is it amazing that it continues to not really give Sanders airtime, even if for a negative reason?

Troll #1 - being amazed the media is continuing to not cover Bernie
Troll #2 - being glad the true face of the Sanders clan is showing (wtf does that mean)
Troll #3 - throwing in a little anti-semitism in repeating as fact an allegation

The only article I could find regarding the purchase mentioned the projected increased enrollment the new property would lead to as justification for the purchase. No mention of a) O'meara Sanders personally mentioning endowments/fundraising activities regarding the loan and b) a criminal investigation into the alleged "bank fraud".

https://www.insidehighered.com/news/201 … llege-edge

http://www.burlingtonfreepress.com/stor … /84439890/

maybe that's why your article is on heatst.com instead of NYT front page. Just a guess, but what do I know?

You also missed the point. She made a bad call and the college is closing. Something similar happened to Sweet Briar last year before it was saved by the alumnae, and no one is going to jail for it. People make mistakes in their jobs. It's hardly a stain on the reputation of Bernie, or her for that matter, that she made a mistake. It happens. Citing her $200k severance package is just the laughable cherry on top. That's hardly a lot of money for a college admin.

Last edited by Jay (2016-05-16 19:14:05)

"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat

2016-05-16 19:21:07

#7

KEN-JENNINGS: I am all that is MOD!; +2,979|6879|949

Yes, it absolutely sucks that the college is closing. It's a bummer and in hindsight reads as not just a bad decision but one not very well sussed out and predicated on unrealistic enrollment expansions.

But let's be clear - the point of this thread is to prove Bernie and fam are some kind of unscrupulous people occupying the same ethical and moral space as the classic corrupt politician, when their lives at-large have been anything but. You could make a better argument calling out the cronyism and nepotism Bernie's wife displayed while she served as President (and her role in Bernie's campaign). But no, let's go for something far more incendiary.

It makes Macbeth look like a blindHillary supporter, lacking critical thinking because it's an article that goes along with the narrative he has created in his head.

2016-05-16 19:55:43

#8

SuperJail Warden: Gone Forever; +641|3966

these allegations are very serious ken.

A group of Catholic parishioners want the U.S. Attorney for Vermont to investigate Jane Sanders, the wife of Bernie Sanders, for alleged bank fraud stemming from a land deal she secured as President of Burlington College.

"It appears that Ms. Sanders misrepresented confirmed donations in order to get that loan," said Brady Toensing, an attorney and Vice Chair of the Vermont Republican Party.

Toensing is representing a group of Catholic parishioners. He alleges Jane Sanders cost the Diocese between $1.6 and $2 million dollars in 2010 and 2011. He says she misrepresented the amount of money Burlington college could raise to support a land purchase from the Catholic Church. A loan from People's United Bank was contingent upon Sanders and the college coming up with more than $2 million dollars. "The bank understood it as confirmed donations," Toensing said.

The documents sent to U.S. Attorney Eric Miller suggest Sanders never secured the donations she told the bank she already had.

"So a financial institution would go ahead and ascertain how firm those pledges are. It would do it's due diligence," said Craig Nolan, a former U.S. Attorney. Nolan says investigating the alleged fraud would require getting an explanation from the college as to why the donations never came through. "The first thing I do is call the FBI and I talk to the FBI about their thoughts. Probably schedule an interview with the financial institution," he said.

http://www.wcax.com/story/30935632/grou … land-deals

According to Jonna Spilbor, an attorney who reviewed the documents for TheDCNF, “the college APPEARS to have committed a pretty sophisticated crime” by exaggerating donor commitments in order to secure financing for the deal.

Smith and Holm also declined to comment on whether there was a federal investigation into the college, or whether the FBI or other authorities had interviewed faculty, staff, or administrators, or if they’d sent any subpoenas. Those “no comments” may raise eyebrows, since it’s generally assumed that if the answer was no, administrators would simply have said so.

http://www.theatlantic.com/politics/arc … ge/482973/

more will come. sanders has something to answer for. no wonder he hates banks. his wife defrauds them.

2016-05-16 20:06:29

#9

Jay: Bork! Bork! Bork!; +2,006|5605|London, England

Ok

"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat

2016-05-16 20:07:36

#10

SuperJail Warden: Gone Forever; +641|3966

i am sure reason.com will run an article on it so you can chime in

2016-05-16 20:13:50

#11

Cybargs: Moderated; +2,285|6963

contract law here we go.

https://cache.www.gametracker.com/server_info/203.46.105.23:21300/b_350_20_692108_381007_FFFFFF_000000.png

2016-05-17 03:47:14

#12

Dilbert_X: The X stands for; +1,815|6353|eXtreme to the maX

I look forward to Trumps business dealings being delved into.

Fuck Israel

2016-05-17 06:04:06

#13

Jay: Bork! Bork! Bork!; +2,006|5605|London, England

SuperJail Warden wrote:
i am sure reason.com will run an article on it so you can chime in

Why are you wasting your life trying to troll the internet? You're not getting under anyone's skin here, the act is worn. If anything, you make us feel sorry for you, but I guess that's almost as good as hatred, right? At least it's a feeling aimed in your direction... I get that you have a hard time making friends, but maybe it's because you're miserable? Trolling just makes the misery worse, trust me. Put down the porn and get off the internet for a while, you'll be happier, and happy people make friends. It's a nice cycle.

"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat

2016-05-17 09:29:39

#14

SuperJail Warden: Gone Forever; +641|3966

Jay, your entire libertarian persona is based off your personal bitterness and resentment. I just post things on the internet. You carry that weight with you everywhere.

2016-05-17 10:30:13

#15

Jay: Bork! Bork! Bork!; +2,006|5605|London, England

SuperJail Warden wrote:
Jay, your entire libertarian persona is based off your personal bitterness and resentment. I just post things on the internet. You carry that weight with you everywhere.

What are you talking about? I'm not bitter or resentful about anything. I'm a happy guy that is constantly cracking jokes in real life. I'm so not angry. Sorry

"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat

2016-05-17 10:51:36

#16

KEN-JENNINGS: I am all that is MOD!; +2,979|6879|949

SuperJail Warden wrote:
i am sure reason.com will run an article on it so you can chime in

you call out Jay for posting from reason yet you post from heatst and dailycaller. OK bro

2016-05-17 11:04:51

#17

SuperJail Warden: Gone Forever; +641|3966

I'm waiting for your counter argument or source that shows that Jane Sanders did not commit Bank Fraud.

2016-05-17 12:33:53

#18

KEN-JENNINGS: I am all that is MOD!; +2,979|6879|949

I can make a claim that you are a child molester.

Go ahead, I'm waiting for your counter-argument or source that shows you are not in fact a child molester.

You are in fact a top end troll. Nothing you say merits serious consideration anymore. You've gone off the deep end, friend.

2016-05-17 13:09:30

#19

SuperJail Warden: Gone Forever; +641|3966

did you even read what i linked?

"It appears that Ms. Sanders misrepresented confirmed donations in order to get that loan," said Brady Toensing, an attorney and Vice Chair of the Vermont Republican Party.

Toensing is representing a group of Catholic parishioners. He alleges Jane Sanders cost the Diocese between $1.6 and $2 million dollars in 2010 and 2011. He says she misrepresented the amount of money Burlington college could raise to support a land purchase from the Catholic Church. A loan from People's United Bank was contingent upon Sanders and the college coming up with more than $2 million dollars. "The bank understood it as confirmed donations," Toensing said.

The documents sent to U.S. Attorney Eric Miller suggest Sanders never secured the donations she told the bank she already had.

2016-05-17 14:36:46

#20

KEN-JENNINGS: I am all that is MOD!; +2,979|6879|949

Unfortunately yes, I've read every article you've linked (thank you for linking btw).

Is the bank pursuing fraud charges or is an attorney with an agenda pursuing them? Why is it a set of parishioners that is going after O'meara Sanders instead of the bank she allegedly defrauded?

She may very well have defrauded the bank by lying, but the facts of the case so far don't seem to point that way.

2016-05-17 14:40:07

#21

SuperJail Warden: Gone Forever; +641|3966

I'm glad you finally admit that she may have done something wrong.

2016-05-17 14:49:49

#22

KEN-JENNINGS: I am all that is MOD!; +2,979|6879|949

SuperJail Warden wrote:
I'm glad you finally admit that she may have done something wrong.

KEN-JENNINGS wrote:
Yes, it absolutely sucks that the college is closing. It's a bummer and in hindsight reads as not just a bad decision but one not very well sussed out and predicated on unrealistic enrollment expansions.

by the way it's very bad reporting.

2016-05-17 20:16:28

#23

Cybargs: Moderated; +2,285|6963

KEN-JENNINGS wrote:
Unfortunately yes, I've read every article you've linked (thank you for linking btw).

Is the bank pursuing fraud charges or is an attorney with an agenda pursuing them? Why is it a set of parishioners that is going after O'meara Sanders instead of the bank she allegedly defrauded?

She may very well have defrauded the bank by lying, but the facts of the case so far don't seem to point that way.

I think it's very very iffy that the bank is not pursuing their money back.

In fraudulent misrepresentation, the party being wronged can pursue a rescission of contract ie put parties BACK in the position as if the contract had not occurred (Alati v Kruger). This would mean Sander's wife gives back ALL the money she had borrowed and the bank return any liens or securities that they may have.

However, Sander's wife can run the defence of innocent misrepresentation. Rescission would not be available to the bank unless there is a total failure of consideration (Watts v Westhoven). This would be difficult here since the contract has already been executed, which means the bank cannot recover if Sander's wife's defence is successful (Seddon's rule),

2016-05-17 20:18:52

#24

Cybargs: Moderated; +2,285|6963

KEN-JENNINGS wrote:
Unfortunately yes, I've read every article you've linked (thank you for linking btw).

Is the bank pursuing fraud charges or is an attorney with an agenda pursuing them? Why is it a set of parishioners that is going after O'meara Sanders instead of the bank she allegedly defrauded?

The 'US Attorney' is part of the DOJ. So criminal penalties would be actionable by the govt.

2016-05-18 10:09:36

#25

KEN-JENNINGS: I am all that is MOD!; +2,979|6879|949

Cybargs wrote:
KEN-JENNINGS wrote:
Unfortunately yes, I've read every article you've linked (thank you for linking btw).

Is the bank pursuing fraud charges or is an attorney with an agenda pursuing them? Why is it a set of parishioners that is going after O'meara Sanders instead of the bank she allegedly defrauded?
The 'US Attorney' is part of the DOJ. So criminal penalties would be actionable by the govt.

I know the US Attorney is part of the DOJ. The attorney representing the parishioners is not associated with the US Attorney's office. Reading comprehension for fucks sake. You're going to be a lawyer...make sure you understand what you read - it's just as important as being able to recall a court case.

BF2S Forums Burlington College Closes Due To Debt Acquired By Bernie Sanders wife

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