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May 16, 2016

Burlington College Shutters Due to Unsustainable Debt-- Debt Acquired Under Leadership of Bernie Sanders' Wife

There are no larger lessons here. Just a dot which the media will let remain unconnected to any other dots.

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.

The left seems to enjoy its own golden parachutes, but they kick up a lot of fuss when they see a non-leftist with one.


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posted by Ace at 03:51 PM

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