Greatest Failure of Fiduciary Responsibility in History!

[BBHorn86]

Where this great university stands and the Paterno family in general and Joe in particular reflects the greatest lack of fiduciary duty ever witnessed. Perhaps Watergate or Iran-Contra or "New Coke" might rank up there but even those situations were eventually resolved to at least go away!

I see no end in sight for the mess we are in and no chance in any of our lifetimes to restore the rightful history of Joe and the football program. Totally unfair! But, that is life.

Why the Paterno's don't sue the 4377 out of the school is beyond me. From my point of view the NCAA is actually the least of their worries at this point!

What a GD shame.

 

[bdgan]

Where this great university stands and the Paterno family in general and Joe in particular reflects the greatest lack of fiduciary duty ever witnessed. Perhaps Watergate or Iran-Contra or "New Coke" might rank up there but even those situations were eventually resolved to at least go away!

I see no end in sight for the mess we are in and no chance in any of our lifetimes to restore the rightful history of Joe and the football program. Totally unfair! But, that is life.

Why the Paterno's don't sue the 4377 out of the school is beyond me. From my point of view the NCAA is actually the least of their worries at this point!

What a GD shame.

• Fell on the sword instead of defending the university
• Threw their own administrators under the bus in hopes of making the whole thing go away
• Paid accusers without thorough vetting
• Concealed their own indirect involvement by requiring accusers to absolve TSM as part of settlements
• Falsely assumed that payments could be recovered from insurance company

It would be difficult to find a worse case of crisis management and lack of fiscal responsibility (except for the government).

 

[Franklin_Restores_TheTradition]

Don't know about that - the "public corruption" of The Kingfish and his eventual "assassination" is pretty legendary in magnitude. BTW, in this case, the "State Actor" Trustees are more culpable, both in action and motive, than "PSU" or anything to do with PSU such as Football, so I would call this a Pennsylvania Government scandal via one of its "Quasi Agency" state-related Public Universities more so than a case of corruption at PSU per se.

 

[Victor E. Bell]

It would be difficult to find a worse case of crisis management and lack of fiscal responsibility (except for the government).

A blurry line at best exists between government and education, which in the case of Pennsylvania probably explains a lot here.

 

[jerseylion109]

well now we are back in the news again...all over twitter that we settled claims as early as 1971. Way to get out in front of the story PSU

 

[kgilbert78]

• Fell on the sword instead of defending the university
• Threw their own administrators under the bus in hopes of making the whole thing go away
• Paid accusers without thorough vetting
• Concealed their own indirect involvement by requiring accusers to absolve TSM as part of settlements
• Falsely assumed that payments could be recovered from insurance company

It would be difficult to find a worse case of crisis management and lack of fiscal responsibility (except for the government).

Enron??

 

[Black Elmo 2]

Didn't all you guys,want this back in the news? I could've sworn that you were looking forward to JS new trial so this could all be back in the media. In fact I recall being told that the media would have to "report the truth".

 

[JoeDidntKnow]

Where this great university stands and the Paterno family in general and Joe in particular reflects the greatest lack of fiduciary duty ever witnessed. Perhaps Watergate or Iran-Contra or "New Coke" might rank up there but even those situations were eventually resolved to at least go away!

I see no end in sight for the mess we are in and no chance in any of our lifetimes to restore the rightful history of Joe and the football program. Totally unfair! But, that is life.

Why the Paterno's don't sue the 4377 out of the school is beyond me. From my point of view the NCAA is actually the least of their worries at this point!

What a GD shame.

They were cowards---------------------> all of them

 

[ILLINOISLION]

They were cowards---------------------> all of them

They were and ARE cowards!

 

[Bob78]

Didn't all you guys,want this back in the news? I could've sworn that you were looking forward to JS new trial so this could all be back in the media. In fact I recall being told that the media would have to "report the truth".

I want the people who should be held accountable to be held accountable. To me, that does not include JVP or C/S/S. So if Nov. 2011 BOT members are found to be liable for poor business decisions and maybe even dereliction of their fiduciary duties to an extent that calls for litigation and certainly for their removal from their BOT positions (active or emeritus), then they need to be handled appropriately.
I would like the media to focus on that to help reverse the narrative regarding innocent people who have been railroaded, and also to drive the message about the dangers of assuming child abuse is generally isolated into areas where people will look the other way. Learning about the Sanduskys of the world and how to look at certain factors differently than we do now is a lesson that has still been overshadowed by the nonsense and misdirected noise. That does no favors for any victims, past, present, or future.
Joe was a good, honorable, sincere, and genuine man. He should be remembered as such.

 

[EPC FAN]

Didn't all you guys,want this back in the news? I could've sworn that you were looking forward to JS new trial so this could all be back in the media. In fact I recall being told that the media would have to "report the truth".

The Feds are coming for you, Seth. For your incarceration, a case of K-Y jelly would be a beginning.

 

[Legion of Lions]

Didn't all you guys,want this back in the news? I could've sworn that you were looking forward to JS new trial so this could all be back in the media. In fact I recall being told that the media would have to "report the truth".

You especially know that the media is not "the Free Press", but a commodity which can be bought and sold based on "market rates". If we had a media source which was dedicated to REPORTING facts and not DISTRIBUTING PROPAGANDA, being back in the news would be a positive.

However, we both know that we have not seen a SHRED of factual proof for any aspect of the negative Penn State media coverage. The coverage we do get to see is as corrupted as PA Government. The media is covering a cartel of criminals that have continued to misinform the public through managed negative stories.

The reason is....we are not seeing news - we are seeing accusations without the press providing any rebuttal based on facts and circumstances that are readily apparent to the media. Media is conveniently making omissions, misquotes and out-right fabrications consistent with the negative image of a criminality that reside only in a political cartel of criminals.

As I have said before...this is professionally engineered Public Personality Assassination. It is a never ending set of accusations which drive a public deception. Since it is designed to influence the public only, we need no facts - just media stories.

Ironic isn't it that to maintain these deceptions, REAL LAWS have been broken. To prosecute those UNNAMED criminals that continue to commit more crimes, you need "100% FACTUAL information from multiple verifiable sources". This "dual standard of justice" is because these highly placed criminals utilize their influence to affect twisted interpretations in the letter of the law as a means to protect them from legal action.

Yet, no factual or legal standards OF ANY KIND exist in the Court of Public Opinion - the ONLY PLACE where PSU persons are tried and convicted.

Remember; to convict in the Court of Public Opinion, you only need privileged (and $$$) access to the corrupt media.

 

[colt21]

Didn't all you guys,want this back in the news? I could've sworn that you were looking forward to JS new trial so this could all be back in the media. In fact I recall being told that the media would have to "report the truth".

There is a vast difference between the "truth" and what the evil-doers promulgate via the media and you know that Elmo - don't ya now?

 

[jjsocrates]

Where this great university stands and the Paterno family in general and Joe in particular reflects the greatest lack of fiduciary duty ever witnessed. Perhaps Watergate or Iran-Contra or "New Coke" might rank up there but even those situations were eventually resolved to at least go away!

I see no end in sight for the mess we are in and no chance in any of our lifetimes to restore the rightful history of Joe and the football program. Totally unfair! But, that is life.

Why the Paterno's don't sue the 4377 out of the school is beyond me. From my point of view the NCAA is actually the least of their worries at this point!

What a GD shame.

From Ray's newest post...
http://notpsu.blogspot.com/2016/05/psu-claim-payment-and-other-malfeasance.html

Oct 28, 2013: 26 of 31 claims settled for the amount of $59.7 million. 3 claims were denied (D.F. claim among them) and 3 claims agreed to in principal (Victim 6 and Victim 9). The settlement agreements contained a provision that the claimants cannot file additional lawsuits against The Second Mile.

Nov 22, 2013: After being unable to reach agreement, Victim 9 files a lawsuit relying heavily on information from the Freeh Report to prove negligence on the part of Penn State.
Jan 1, 2015: Victim 9 legal team awarded discovery of Freeh Source materials. PSU was required to turn over all materials d by May 29, 2015
Apr 12, 2015: By an 18-6 vote, the BOT approves a substantial and undisclosed settlement for Victim 9 (estimated at between $15 - $20 million) and for five other claimants. Total payment of approximately $33.2 million.

Think about this for a second.
Average amount of settlement money for Sandusky victims: $3 million.
Average amount of settlement money for Sandusky victims awarded access to the Freeh investigative files: $15 million.

Let that sink in. What gets you an extra $12 million from Ira Lubert and company? Giving up your rights to access/review Freeh's source/investigative files.

Let. That. Sink. In.

As I've said before - that isn't a settlement, its payment for blackmail.

 

[psuro]

They are like a teenager with daddy's credit card and anger issues they resolve through shopping.

 

[Player2BNamedL8r]

well now we are back in the news again...all over twitter that we settled claims as early as 1971. Way to get out in front of the story PSU

Unfortunately, they were out in front of it. The problem is that their method for doing so - put this whole fiasco behind us by paying off any/everyone with a complaint, regardless of how legitimate it was - has proven to actually NOT be the quickest solution they thought it would be. In fact, it doesn't get you out at all, but rather keeps you mired in a perpetual loop of shit.