Penn State's money pit

LET'S TALK WEALTH MANAGEMENT

Or, as I call it...Stealth Management.
First, it's probably important to list my credentials regarding wealth management:
None.

It's like Penn State's Board of Trustees is this bunch of ninjas scooting around with bags of money and POOF!...they're gone. Wait...there they are. Nope. Gone again. Sneaky little bastards.
Of course, the problem here is that most ninjas are NOT old, fat, short, bald...or wearing pearls.

Let's review, shall we?:

They have a "rainy day fund" that must support some 3rd world countries, they have figured out how to make $45 million (reportedly) in interest on $60 million in loans to the Athletic Department (and...don't forget part of the new scoreboard), they are their own bank and health insurance company...and who else can put $2 million in a line item expense named "other"...? They approved "victim" payments without due process. They have not submitted to background checks nor conflict of interest issues.

Everything you need to know about the current status of Penn State's Board of Trustees:
1. Check the list on the President's Selection Committee.
2. Silvis needed 14 votes to become vice-chairman...and he got them.
In other words, since November, 2011...and with new trustees...it is business as usual.

I can only assume that racism, cronyism, exploitation, vendettas, bullying, disrespect for alumni, lack of transparency, lack of due process, etc....is just hunkydorry with the Faculty Senate.

If you want to know what trustees are thinking, ask a proctologist.

SNIPPETS

• NCAA: As deplorable as Emmert is, when you have that many pigs at the trough...it doesn't matter which one is the head hog.
• The Sandusky appeal has been moved to The Bryce Jordan Center.
• Jerry gets a pension? Matt gets a "victim" settlement?
• The PSU PR flacks have gone back to poll dancing.
• I Googled "America's Most Trusted Journalists" and my name wasn't on the list. My crest fell. All you need to know - Jon Stewart, a comedian, topped the list.
• For all my in-depth sports sourcing, I turn to...The Wall Street Journal.           
• Ken Frazier is not a racist... (1) He just makes racist remarks...that's different. (2) When making a point, everybody uses the O.J.Simpson trial. (3) All publishing and marketing is racist...we just call it demographics.
• When describing Tom Corbett, the adjective "liar' doesn't seem to have enough punch. I recommend adding "pathological."
• There is no court of public opinion...just public reaction.
• " A Tragic Day for Penn State" was brought to us by a magistrate, former law enforcement officer with the DA's office and no law degree. You would think someone with his background might know what tragic really is... his commentary, for instance.                  
• "Old Main Screwed Up" was brought to us by the ever-popular Mike McQueary. Aside from being a generic, blame-shifting hearsay quote of a dead man...it is roughly the equivalent of "The Dog Ate My Homework" excuse for not doing whatever it was you were supposed to do.
• With characters like Dr. Drano and Judge Futile...we're starting to look like a Batman sequel.
• I really expected the lettermen's club to come down on Surma like the wrath of God.
• Everyone should be suing Freeh and the BOT (not to be confused with Penn State)...not the NCAA.

I use the the "Aunt Barb" test. Anyone who grew up here knows this one - you cannot pick your nose in this county without everyone knowing about it. If anyone knew, or even thought Jerry Sandusky was a pedophile...my aunt Barb would have known...and so would everyone else.

The original charges against Curley and Schultz had nothing to do with putting Jerry Sandusky behind bars. It was a pre-emptive misdirection from Corbett, the DA's office, law enforcement and other responsible government agencies when the story broke. It is fairly obvious that the DA's office cut a least 2 deals - one with a journalist and one with a "witness."

My biggest fear:
People like Corbett, Freeh, Emmert, Surma, Broadhurst, Baldwin, Raykovitz and Frazier are going to walk away from this rich and unscathed.

and, finally...Who's gonna pay for all this?

WE ARE!