Michigan State Will Pay Half Billion Dollars to Nassar Victims

Discussion in 'RayGator's Swamp Gas' started by mulegator, May 16, 2018.

  1. mulegator

    mulegator Neanderthal Ninja Vigilante Moderator VIP Member

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    [​IMG]
    Larry Nassar stands before Judge Rosemarie Aquilina during Nassar's sentencing at the Ingham County Circuit Court in Lansing on Wednesday, Jan. 24, 2018.
    (Neil Blake | MLive.com)

    A $500 million settlement has been reached between Michigan State University and victims of Larry Nassar, a former MSU physician who pleaded guilty to molesting patients under the guise of medical treatment, according to a press release from the California attorneys in the case.

    The settlement includes $425 million that will be paid to the 332 current claimants and $75 million set aside in a trust fund to protect any future claimants alleging sexual abuse by Nassar.

    Nassar, 54, is currently serving a 60-year sentence in federal prison for child pornography. If he ever released, he faces up to 175 years in a Michigan state prison for first-degree criminal sexual conduct.

    The Nassar case is the nation's biggest case of serial sexual abuse based on the number of victims.

    $500M settlement reached between Michigan State and Nassar victims

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  2. FraserGator15

    FraserGator15 Junior

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    Wow
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  3. mulegator

    mulegator Neanderthal Ninja Vigilante Moderator VIP Member

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    If anything good comes out of all this it will be that these events will probably never happen again.
    Programs all over the country are paying attention and getting their houses in order.
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  4. gatormonk

    gatormonk GC Hall of Fame

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    They got off light.
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  5. TJtheGator

    TJtheGator GC Hall of Fame

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    Daaaaaaaaaaaaammmmnnnnnnn!!!!!!

    Serious questions:

    1. Does Michigan State have this much money in a contingency fund “for a rainy day???”

    2. Will an insurance company insure you for stuff like this and for that much money? I know Lloyd’s of London will insure anything for the right price (J-Lo’s butt while dating P-Diddy), but still who will ask for policy coverage for a half billion if crap hits the fan?
  6. Wanne15

    Wanne15 GC Hall of Fame

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    I think he may have touched me too
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  7. Matherly87

    Matherly87 GC Hall of Fame

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    I was going to post some snide remark but thought again. This is not something to be joking about. We are better than that.
    I do wonder since MSU is a state school how might this affect the State of Michigan budget and policy decisions for the legislature?
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  8. malscott

    malscott Premium Member

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    That Dr. Was one scumbag. Yeah...everyone is on notice. Amazing that guy did it for so long. People are out of their freaking minds. Abuse, fkd parents, guys like this looser, killers, teachers and the kids. AND in India, someone rapes a girl (gang rape) they then set the girl on fire (like it's her fault) and the police make the perpetrator do sit ups as a punishment! Sit ups? WTF? Sad times...
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  9. Wanne15

    Wanne15 GC Hall of Fame

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    Ok Sparky should be put to work, he’s way behind these days
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  10. themistocles

    themistocles VIP Member

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    Most large Universities in the US have larger Budgets than many smaller Nations in the UN as one colleague of mine would always say when we complained about lacking funds to do important things.

    Unfortunately, Far, Far, Far too much of those $$$$ will go to the lawyers.
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  11. rpmGator

    rpmGator GC Hall of Fame

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    Would have been cheaper to get him arrested after the first report and certainly after a pattern of complaints started.

    But to protect the integrity of the school they didn’t show any at all.
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  12. your_perfect_enemy

    your_perfect_enemy GC Hall of Fame

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    They played a clip about it on Golic and Wingo this morning. Said some will come from the university, some from insurance and then they may have to write a bond for the rest. Will be interested to see how all that works out on all those fronts.

    I'm sure they have some general endowment funds, but many/most have very specific purposes so it's not like they can just tap any of those.

    I know in the PSU case, the insurance company fought having to pay damages. I think they said something along the lines of this is willful negligence so we're not responsible for damages. I don't remember seeing how that player out

    When all this first came out their credit/bond rating was dropped several grades, so it's going to cost them quite a bit more in interest than a normal university of this stature.
  13. CHFG8R

    CHFG8R GC Hall of Fame

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    Bingo! It's not that I don't feel for the victims, but this feels like what happens when Lawyers get involved and start "looking for the money." Obviously, this Dr. isn't going to be the kind of financial wellspring they are looking for so the natural target becomes the University, which is the alumni and essentially the people of the state of Michigan, the vast, vast, vast majority of whom didn't realize this was happening and really are blameless. That's who will get the bill for this, not the "bad guys." So excuse me for not being exactly thrilled by this.
  14. TJtheGator

    TJtheGator GC Hall of Fame

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    Which I’m sure the insurance company will fight again in this case.

    That figure approaches natural disaster payout money. It is simply mind-boggling.
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  15. Matherly87

    Matherly87 GC Hall of Fame

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    Probably the main way this will affect MSU is from a decrease in alumni/booster support over several years. We can only hope enough alumni will second guess where their dollars are going.
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  16. tilly

    tilly Superhero Moderator with bulletproof posts! Moderator VIP Member

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    Seems the state of Michigan should be prohibited from taxing any of these payouts.
    How does that work?
  17. gatordavisl

    gatordavisl VIP Member

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    After reading a few articles, it appears MSU has not disclosed the sources of funds for the payout. It's likely they don't yet have it figured out either. According to one source, their liability insurance company may cover 39 million, which is a one-year pay out. MSU may appeal the insurers to get multiple years. That still leaves a huge amount. Some sources are claiming that they will not raise tuition and will not rely upon their endowment. I don't think, either, that their state budget allocations can be attributed to the payout. They are going to have to be creative with budget cuts and donations.
  18. Notoriousgator

    Notoriousgator GC Hall of Fame

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    Yeah man, I think they raped and set afire 3 teens recently. Absolutely horrendous.
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  19. chemgator

    chemgator GC Hall of Fame

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    Bobby Bowden is now a judge in India? I didn't see that coming.
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  20. Notoriousgator

    Notoriousgator GC Hall of Fame

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    Oh man. So wrong on so many levels but you'll get an LOL from me.