This is Bernie Sanders economics
As demonstrated by his wife!!!
Federal authorities are investigating a 2010 land deal for a Vermont college that was run at the time by Jane Sanders, the wife of Senator Bernie Sanders of Vermont. The deal ultimately contributed to her ouster as president of the college.
The deal involved a $10 million sale of about 33 acres of lakefront property by the Roman Catholic Diocese of Burlington to Burlington College ? where Ms. Sanders was president ? so the college could relocate and expand.
To finance the purchase, the college needed to borrow from a bank and obtain additional financing from the diocese, according to David V. Dunn, a Burlington College trustee at the time.
A public agency issued a bond, which the bank then bought. The college needed to demonstrate that it had the financial resources to pay the bank loan, which it did by saying that it would receive $2.6 million in donations and that it would also increase its enrollment, Mr. Dunn said. ?Neither of those were true,? he said in an interview Monday.
The loan was granted and the purchase was then made based on Ms. Sanders?s assurance that the college would receive millions of dollars in pledged donations that it would use to repay the loan, according to Mr. Dunn and reports by VTDigger and other Vermont news organizations. But some of the pledges turned out to be overstated, and enrollment did not increase.
When the donations fell short of the $2.6 million promised by Ms. Sanders, she was forced to resign in 2011. Financially strained, the college closed last year.
Federal authorities are investigating a 2010 land deal for a Vermont college that was run at the time by Jane Sanders, the wife of Senator Bernie Sanders of Vermont. The deal ultimately contributed to her ouster as president of the college.
The deal involved a $10 million sale of about 33 acres of lakefront property by the Roman Catholic Diocese of Burlington to Burlington College ? where Ms. Sanders was president ? so the college could relocate and expand.
To finance the purchase, the college needed to borrow from a bank and obtain additional financing from the diocese, according to David V. Dunn, a Burlington College trustee at the time.
A public agency issued a bond, which the bank then bought. The college needed to demonstrate that it had the financial resources to pay the bank loan, which it did by saying that it would receive $2.6 million in donations and that it would also increase its enrollment, Mr. Dunn said. ?Neither of those were true,? he said in an interview Monday.
The loan was granted and the purchase was then made based on Ms. Sanders?s assurance that the college would receive millions of dollars in pledged donations that it would use to repay the loan, according to Mr. Dunn and reports by VTDigger and other Vermont news organizations. But some of the pledges turned out to be overstated, and enrollment did not increase.
When the donations fell short of the $2.6 million promised by Ms. Sanders, she was forced to resign in 2011. Financially strained, the college closed last year.
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WHAT A SHOCK! Crooked azz liberals who steal, pilfer, lie, cheat and just overall a nauseous, crooked little biatches. 0 -
wonder how much she put in her pocket????? 0 -
enuff to finance bernie's political run...OH YEAH ...we need more of these in government 0 -
quote:Originally posted by Grasshopper
WHAT A SHOCK! Crooked azz liberals who steal, pilfer, lie, cheat and just overall a nauseous, crooked little biatches.
They have the entire media complex to cover for them. The media is the most corrupt organization in USA0 -
quote:Originally posted by chiefr
quote:Originally posted by Grasshopper
WHAT A SHOCK! Crooked azz liberals who steal, pilfer, lie, cheat and just overall a nauseous, crooked little biatches.
They have the entire media complex to cover for them. The media is the most corrupt organization in USA
More corrupt than the FBI?? I don't know.....they are both right at the top of the list....0 -
I wonder how rich she got on the Deal... 0 -
So the college/property is up for sale? 0
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