2016 Election, Bernie Sanders, Economy, Elections, Issues

Vermont college to close due to ‘crushing’ debt incurred by Bernie Sanders’s wife

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Jane_SandersIf you want a sneak peak into what the U.S. economy would look like under a Bernie Sanders presidency, look no further than Vermont’s Burlington College. Sanders’s wife, Jane O’Meara Sanders, was president of the private liberal arts school from 2004 to 2011. She must’ve not been very good at her job, though, because the college announced Monday that it will close May 27 due to “the crushing weight of the debt” incurred under Ms. Sanders’s presidency:

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.

A Burlington College news release issued this morning called these financial hurdles “insurmountable at this time.”

And if displacing hundreds of college students (the very demographic for which Bernie has claimed to be a champion) and shuttering an institution of higher education isn’t enough, Catholics in Vermont want to investigate Ms. Sanders for fraud:

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.

Apparently Bernie isn’t the only Sanders who thinks other people’s money grows on trees.

  • j0e cave

    how in hell do you get a $200,000 bonus for bankrupting a collage?

    • El Dano

      gotta be a democrat, that’s expected, now we can unleash some real socialist programs at
      Burlington College

    • ARJAY

      Same way that executives get multi-million dollar retention bonuses for running a BIG corporation into bankruptcy!!

      Makes NO sense to us that possess a WORKING BRAIN!!!!!!!!

      We LET facts and LOGIC “GET IN THE WAY”!

    • Lime n coconut

      Same as community organizers become presidents? Its all planned in advance.

      Socialism does not work and people better wake th F$Ck up!

  • fox

    It isn’t hard to bankrupt anything. It’s appearing with your husband at fund raisers after collecting a $200,000.00 severance package that smacks of deceit. Mrs Sanders has a great mentor in how to be deceitful–Bernie. The other Democrat candidate isn’t any asset to anyone either.

    • Robert

      fox
      this was a great article of half truths, Bernie Sanders wife like any college head can do nothing unless the regents approve it, she had no authority to act alone. The only purpose of this article is to upset people with half truths. Go on the internet and find out if a President of a Catholic College has any authority to make deals, those deaLs are made by the board of regents, not the college president.
      HAVE A NICE DAY

      • El Dano

        Democrats are and thrive on half truths or less in most cases.

        • Robert

          El Dano
          This article was not written by a Democrat, it was written to supposedly make them look bad. Both Parties tell half truths and out right lies to try and get your support for something they want to accomplish.
          HAVE A GOOD DAY

  • Robert Pekarik

    This was just practice for Bernie and his wife on how to rule America. Plenty of money coming in from the taxpayers and very little over site. Just look at how the most “transparent administration in history” is handling we the people’s money. Complete fraud and deceit.

    • Robert

      Robert Pekarik
      Where did you ever get the idea the President can do what ever he wants with no oversight.
      https://en.wikipedia.org/wiki/Congressional_oversight
      Any President of the USA is controlled by Congress, they have the power to stop anything he does, Recess Appointments are only good till the end of Congress’s next session if a majority does not confirm the appointment.
      An Executive Order can be stopped in many ways but here is the 5 simplist listed by the Republican Party
      http://dailysignal.com/2014/11/24/5-ways-congress-can-push-back-obamas-executive-actions-immigration/
      Trump, Hillary, Donald Duck they are all figure heads who represent the USA to other countries, they have no more power than the President of a Company with a Board of Directors, which can fire the President of the Company.
      I hope you have leared to do some researcha nd not listen to the spin doctors,we have mass of them in both parties tryiong to stir up the people over what they think is done illegally.
      HAVE A NICE DAY

      • Robert Pekarik

        I didn’t say any oversight, I said very little. If we truly had true oversight with both parties together representing the American people and not their respective parties none of the abusive waste of taxpayer money would be going on. It’s like anything else in Washington DC they hold distain for we the people and could care less what is good for America.

        • Robert

          Robert Pekarik
          The Congress is the best money can buy and it is not our money it is the rich that control the country through our Congresspersons, they have no intentions of working for us they are in it for the money and the average American does not have the kind of money they want. Graft and Corruption in our Government is high on the list of countries with high graft and corruption in both parties.
          I TOTALLY AGREE WITH YOU THAT THE CONGRESS IS THERE FOR THE PEOPLE WHO DONATED THEIR CAMPAIGN FUNDS NOT THE PEOPLE WHO VOTED FOR THEM.
          HAVE A NICE DAY

      • El Dano

        Robert have you ever heard of President Hussein?

        • Robert

          El Dano
          If you are referring to the President of Iraq prior to the invasion, no I have never personally met the man but I have been in the presence of his Cabinet members back in the late 1960s and early 70s.
          Yes he kept all the radicals in line like Gaddafi did in Libya until the USA let them out of the proverbial Pandora’s box. All for the want of the resources in those countries.
          HAVE A GOOD DAY

  • Al Thomas

    Bernie is a fraud and has done nothing for that state and neither has the other senator.The gov is a republican but does what the dems tell him to do.

  • N.McDaniel

    Socialist running for POTUS??? Incompetancy throughout the family and its ideaology. $200,000 for college bankruptcy??? It’s as bad as “What makes the difference”?? Clinton!!!

  • ProudUSAVet

    Socialists, like Muslims, lie to reach their goals. Bernie is no different. He is claiming that the 1% will be taxed to provide for the 99% to put us all on equal footing. When the 1% move out of the country, same thing will happen as is happening in Venezuela. Recently, everyday rioting in the streets because of lack of food and other staples. Coke has quit producing Coca Cola because of lack of sugar. Russia has dropped socialism and is in capitalistic mode. So is China. Most of the socialist European countries are broke and citizens are paying up to 60% of their earnings in taxes. So you figure. Vote for Bernie! Yea! He will save America (until the current crop of young people start paying taxes then they will wish for the old days when conservatives were in power).

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