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Jerry Sandusky accused of child molestation (2 Viewers)

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Who cares?
 
Without more, the Paterno house transfer indicates nothing. Surely the NYT has reporters that can figure out that even a half million dollar home represents a small fraction of Paterno's assets.

 
Grasping at straws imo with the land donation and house transfer.

There is enough to go on already. This ancillary stuff is dumb.
:confused: If the University knew of Sandusky's issues you don't think it's a problem if they sold him land so he could build a campground for kids?

Maybe they simply sold him the land at a discount and had no clue what he wanted it for. In that case maybe they get a pass. I'm skeptical they would sell the land to him at a discount unless they knew it was going for his charity.
Sure, I agree. However, most who are proffering this or other ancillary items are doing it for the OMG can you believe how deep this conspiracy goes?! effect. You're the first to suggest that the land transfer to Sandusky's charity was done because PSU had no idea of Sandusky's monstrous nature and that they merely felt that they were donating to a charity. Most are suggesting that it is a payoff as part of a massive coverup by the university. That is the kind of implication the Leeroy is calling 'dumb' and I tend to agree.

 
Grasping at straws imo with the land donation and house transfer.

There is enough to go on already. This ancillary stuff is dumb.
:confused: If the University knew of Sandusky's issues you don't think it's a problem if they sold him land so he could build a campground for kids?

Maybe they simply sold him the land at a discount and had no clue what he wanted it for. In that case maybe they get a pass. I'm skeptical they would sell the land to him at a discount unless they knew it was going for his charity.
Sure, I agree. However, most who are proffering this or other ancillary items are doing it for the OMG can you believe how deep this conspiracy goes?! effect. You're the first to suggest that the land transfer to Sandusky's charity was done because PSU had no idea of Sandusky's monstrous nature and that they merely felt that they were donating to a charity. Most are suggesting that it is a payoff as part of a massive coverup by the university. That is the kind of implication the Leeroy is calling 'dumb' and I tend to agree.
That doesn't appear to be what he's suggesting at all.
 
Without more, the Paterno house transfer indicates nothing. Surely the NYT has reporters that can figure out that even a half million dollar home represents a small fraction of Paterno's assets.
While I agree that it would be reasonable to expect Paterno to be worth far more than the value of his home, I would not go so far as to say it indicates nothing. Reporters and investigators are just starting to follow the paper trail and this transfer of ownership of the home may be a singular situation or the first discovered of many moves Paterno has taken to protect assets. By itself the transfer means little, but should it turn out to be one of many such moves it would have meaning.
 
Without more, the Paterno house transfer indicates nothing. Surely the NYT has reporters that can figure out that even a half million dollar home represents a small fraction of Paterno's assets.
While I agree that it would be reasonable to expect Paterno to be worth far more than the value of his home, I would not go so far as to say it indicates nothing. Reporters and investigators are just starting to follow the paper trail and this transfer of ownership of the home may be a singular situation or the first discovered of many moves Paterno has taken to protect assets. By itself the transfer means little, but should it turn out to be one of many such moves it would have meaning.
Shared assets with a spouse are not subject to civil judgements. The house was shared before the transfer. Nothing to see here.
 
Grasping at straws imo with the land donation and house transfer.

There is enough to go on already. This ancillary stuff is dumb.
:confused: If the University knew of Sandusky's issues you don't think it's a problem if they sold him land so he could build a campground for kids?

Maybe they simply sold him the land at a discount and had no clue what he wanted it for. In that case maybe they get a pass. I'm skeptical they would sell the land to him at a discount unless they knew it was going for his charity.
Sure, I agree. However, most who are proffering this or other ancillary items are doing it for the OMG can you believe how deep this conspiracy goes?! effect. You're the first to suggest that the land transfer to Sandusky's charity was done because PSU had no idea of Sandusky's monstrous nature and that they merely felt that they were donating to a charity. Most are suggesting that it is a payoff as part of a massive coverup by the university. That is the kind of implication the Leeroy is calling 'dumb' and I tend to agree.
That doesn't appear to be what he's suggesting at all.
Thats pretty much exactly what i am suggesting actually.
 
Grasping at straws imo with the land donation and house transfer.

There is enough to go on already. This ancillary stuff is dumb.
:confused: If the University knew of Sandusky's issues you don't think it's a problem if they sold him land so he could build a campground for kids?

Maybe they simply sold him the land at a discount and had no clue what he wanted it for. In that case maybe they get a pass. I'm skeptical they would sell the land to him at a discount unless they knew it was going for his charity.
Sure, I agree. However, most who are proffering this or other ancillary items are doing it for the OMG can you believe how deep this conspiracy goes?! effect. You're the first to suggest that the land transfer to Sandusky's charity was done because PSU had no idea of Sandusky's monstrous nature and that they merely felt that they were donating to a charity. Most are suggesting that it is a payoff as part of a massive coverup by the university. That is the kind of implication the Leeroy is calling 'dumb' and I tend to agree.
I did not take the sale of land to be any part of a cover up, just another example of extremely poor decision making by Penn State. At least some of the people involved had to be aware of the accusations against Sandusky and yet it appears they facilitated a cheap land sale to help him build a dormitory for sleep over camp for small boys. As least on the surface with admittedly limited data this looks like another amazingly poor choice made by those in charge.
 
Grasping at straws imo with the land donation and house transfer.

There is enough to go on already. This ancillary stuff is dumb.
:confused: If the University knew of Sandusky's issues you don't think it's a problem if they sold him land so he could build a campground for kids?

Maybe they simply sold him the land at a discount and had no clue what he wanted it for. In that case maybe they get a pass. I'm skeptical they would sell the land to him at a discount unless they knew it was going for his charity.
Sure, I agree. However, most who are proffering this or other ancillary items are doing it for the OMG can you believe how deep this conspiracy goes?! effect. You're the first to suggest that the land transfer to Sandusky's charity was done because PSU had no idea of Sandusky's monstrous nature and that they merely felt that they were donating to a charity. Most are suggesting that it is a payoff as part of a massive coverup by the university. That is the kind of implication the Leeroy is calling 'dumb' and I tend to agree.
That doesn't appear to be what he's suggesting at all.
Who? Dr. Awesome? I know that. Read the original posts about the land transfer.
 
Grasping at straws imo with the land donation and house transfer.

There is enough to go on already. This ancillary stuff is dumb.
:confused: If the University knew of Sandusky's issues you don't think it's a problem if they sold him land so he could build a campground for kids?

Maybe they simply sold him the land at a discount and had no clue what he wanted it for. In that case maybe they get a pass. I'm skeptical they would sell the land to him at a discount unless they knew it was going for his charity.
Sure, I agree. However, most who are proffering this or other ancillary items are doing it for the OMG can you believe how deep this conspiracy goes?! effect. You're the first to suggest that the land transfer to Sandusky's charity was done because PSU had no idea of Sandusky's monstrous nature and that they merely felt that they were donating to a charity. Most are suggesting that it is a payoff as part of a massive coverup by the university. That is the kind of implication the Leeroy is calling 'dumb' and I tend to agree.
I did not take the sale of land to be any part of a cover up, just another example of extremely poor decision making by Penn State. At least some of the people involved had to be aware of the accusations against Sandusky and yet it appears they facilitated a cheap land sale to help him build a dormitory for sleep over camp for small boys. As least on the surface with admittedly limited data this looks like another amazingly poor choice made by those in charge.
Or evidence that very few people knew the truth about this monster and Penn State was doing what would otherwise be a genuinely good deed.
 
Grasping at straws imo with the land donation and house transfer.

There is enough to go on already. This ancillary stuff is dumb.
:confused: If the University knew of Sandusky's issues you don't think it's a problem if they sold him land so he could build a campground for kids?

Maybe they simply sold him the land at a discount and had no clue what he wanted it for. In that case maybe they get a pass. I'm skeptical they would sell the land to him at a discount unless they knew it was going for his charity.
Sure, I agree. However, most who are proffering this or other ancillary items are doing it for the OMG can you believe how deep this conspiracy goes?! effect. You're the first to suggest that the land transfer to Sandusky's charity was done because PSU had no idea of Sandusky's monstrous nature and that they merely felt that they were donating to a charity. Most are suggesting that it is a payoff as part of a massive coverup by the university. That is the kind of implication the Leeroy is calling 'dumb' and I tend to agree.
I did not take the sale of land to be any part of a cover up, just another example of extremely poor decision making by Penn State. At least some of the people involved had to be aware of the accusations against Sandusky and yet it appears they facilitated a cheap land sale to help him build a dormitory for sleep over camp for small boys. As least on the surface with admittedly limited data this looks like another amazingly poor choice made by those in charge.
Or evidence that very few people knew the truth about this monster and Penn State was doing what would otherwise be a genuinely good deed.
That doesnt make a very good story. Needs way more outrage.
 
Grasping at straws imo with the land donation and house transfer.

There is enough to go on already. This ancillary stuff is dumb.
:confused: If the University knew of Sandusky's issues you don't think it's a problem if they sold him land so he could build a campground for kids?

Maybe they simply sold him the land at a discount and had no clue what he wanted it for. In that case maybe they get a pass. I'm skeptical they would sell the land to him at a discount unless they knew it was going for his charity.
Sure, I agree. However, most who are proffering this or other ancillary items are doing it for the OMG can you believe how deep this conspiracy goes?! effect. You're the first to suggest that the land transfer to Sandusky's charity was done because PSU had no idea of Sandusky's monstrous nature and that they merely felt that they were donating to a charity. Most are suggesting that it is a payoff as part of a massive coverup by the university. That is the kind of implication the Leeroy is calling 'dumb' and I tend to agree.
I did not take the sale of land to be any part of a cover up, just another example of extremely poor decision making by Penn State. At least some of the people involved had to be aware of the accusations against Sandusky and yet it appears they facilitated a cheap land sale to help him build a dormitory for sleep over camp for small boys. As least on the surface with admittedly limited data this looks like another amazingly poor choice made by those in charge.
Or evidence that very few people knew the truth about this monster and Penn State was doing what would otherwise be a genuinely good deed.
If that is the case (and I think it's the most likely scenario), it points to gross incompetence at best. I don't believe this sale would happen without at least 1-2 higher ups who knew about the Sundusky scandal also being notified of this. The board that approved the sale was likely in the dark but you're telling me not one person was aware of both things happening and didn't think to themselves "Wait a second...isn't the charity we're selling to also run by the guy we forced into retirement for diddling kids?"Still, I agree we're at a relative lull right now and the mainstream media which has been so embarrassingly behind in their coverage is now making up for lost time even if that means making up stories.

 
Link

Paterno Turns Home Over to Wife for $1

By MARK VIERA and PETE THAMEL

STATE COLLEGE, Pa. — Joe Paterno transferred full ownership of his house to his wife, Sue, for $1 in July, less than four months before a sexual abuse scandal engulfed his Penn State football program and the university.

Documents filed in Centre County, Pa., show that on July 21, Paterno’s house near campus was turned over to “Suzanne P. Paterno, trustee” for a dollar plus “love and affection.” The couple had previously held joint ownership of the house, which they bought in 1969 for $58,000.

According to documents filed with the county, the house’s fair-market value was listed at $594,484.40. Wick Sollers, a lawyer for Paterno, said in an e-mail that the Paternos had been engaged in a “multiyear estate planning program,” and the transfer “was simply one element of that plan.” He said it had nothing to do with the scandal.

Paterno, who was fired as the football coach at the university last week, has been judged harshly by many for failing to take more aggressive action when he learned of a suspected sexual assault of a child by one of his former top assistants.

Some legal experts, in trying to gauge the legal exposure of the university and its top officials to lawsuits brought by suspected victims of the assistant, Jerry Sandusky, have theorized that Paterno could be a target of civil actions. On Nov. 5, Sandusky, Penn State’s former defensive coordinator, was charged with 40 counts related to the reported sexual abuse of eight boys over 15 years. Paterno, 84, was among those called to give testimony before a grand jury during the investigation, which began in 2009.

Experts in estate planning and tax law, in interviews, cautioned that it would be hard to determine the Paternos’ motivation simply from the available documents. It appears the family house had been the subject of years of complex and confusing transactions.

Lawrence A. Frolik, a law professor at the University of Pittsburgh who specializes in elder law, said that he had “never heard” of a husband selling his share of a house for $1 to his spouse for tax or government assistance purposes.

“I can’t see any tax advantages,” Frolik said. “If someone told me that, my reaction would be, ‘Are they hoping to shield assets in case if there’s personal liability?’ ” He added, “It sounds like an attempt to avoid personal liability in having assets in his wife’s name.”

Two lawyers examined the available documents in recent days. Neither wanted to be identified because they were not directly involved in the case or the property transaction. One of the experts said it appeared to be an explicit effort to financially shield Joe Paterno. The other regarded the July transaction, at least on its face, as benign.

Last Wednesday, the university’s board of trustees fired Paterno and Graham B. Spanier, the university’s president.

In 2002, Mike McQueary, then a graduate assistant in the football program, told Paterno that he had seen Sandusky with a boy in the football building’s showers. How explicit McQueary was in describing what he saw is in dispute. But according to state prosecutors, Paterno testified under oath that McQueary had told him that he had seen Sandusky doing something of a sexual nature to a roughly 10-year-old boy.

Paterno did not report the incident to the police or encourage McQueary to make such a report. Instead, he passed along the allegation the next day to the university’s athletic department and one other senior administrator.

On the day he was fired last week, Paterno said he and his wife were praying for the victims, described the events as a tragedy and admitted that he wished he had done more in 2002.

“Coach Paterno wants to tell his side of the story and answer questions, and I am hopeful he will be able to do so down the road,” said Sollers, Paterno’s lawyer.

The lawyer whose name is attached to the latest matter involving the couple’s house is David C. Pohland of Cassidy, Kotjarapoglus & Pohland of Greensburg, Pa. Pohland did not return a telephone message on Tuesday. The maiden name of Sue Paterno, who is 13 years younger than her husband, is Pohland. It was uncertain if there was any relation between her and the lawyer.

Nate Schweber and Jo Becker contributed reporting.
I'm not an expert in Elder Law like this guy, but what about estate taxes? If Joe dies first, and he's older and in worse health, wouldn't she avoid some estate taxes by having the house in her name instead of in joint? Anyone know the answer?
 
Link

"I can't see any tax advantages," Frolik said. "If someone told me that, my reaction would be, 'Are they hoping to shield assets in case if there's personal liability?' " He added, "It sounds like an attempt to avoid personal liability in having assets in his wife's name."

.
I'm not an expert in Elder Law like this guy, but what about estate taxes? If Joe dies first, and he's older and in worse health, wouldn't she avoid some estate taxes by having the house in her name instead of in joint? Anyone know the answer?
Usually property held as Joint Tenants is with right of survivorship, which means title would pass to his wife without going through the estate, and therefore without taxation.So no, I don't believe that is the reason.

However, as has been pointed out, if the asset was held jointly, then a judgment against JoePa would not be able to get at that asset anyways, so those suggesting it was in anticipation of this event seem similarly off base.

 
Grasping at straws imo with the land donation and house transfer.

There is enough to go on already. This ancillary stuff is dumb.
:confused: If the University knew of Sandusky's issues you don't think it's a problem if they sold him land so he could build a campground for kids?

Maybe they simply sold him the land at a discount and had no clue what he wanted it for. In that case maybe they get a pass. I'm skeptical they would sell the land to him at a discount unless they knew it was going for his charity.
Sure, I agree. However, most who are proffering this or other ancillary items are doing it for the OMG can you believe how deep this conspiracy goes?! effect. You're the first to suggest that the land transfer to Sandusky's charity was done because PSU had no idea of Sandusky's monstrous nature and that they merely felt that they were donating to a charity. Most are suggesting that it is a payoff as part of a massive coverup by the university. That is the kind of implication the Leeroy is calling 'dumb' and I tend to agree.
I did not take the sale of land to be any part of a cover up, just another example of extremely poor decision making by Penn State. At least some of the people involved had to be aware of the accusations against Sandusky and yet it appears they facilitated a cheap land sale to help him build a dormitory for sleep over camp for small boys. As least on the surface with admittedly limited data this looks like another amazingly poor choice made by those in charge.
Or evidence that very few people knew the truth about this monster and Penn State was doing what would otherwise be a genuinely good deed.
That doesnt make a very good story. Needs way more outrage.
Penn State sold land on the cheap to a man accused of being a pedophile to help him build a dorm for sleep away camp for young children. That is a problem. That does not mean it was part of some vast conspiracy or cover up, but it is still a problem.I suspect at least the majority of people(if not all) voting to give Second Mile a deal on land to build a dorm did it with the best of intentions. Like IB said it could indicate that few people knew the truth and this deal was viewed a genuinely good deed. But that does not change that fact that these accusations against Sandusky were known by high ranking people in the Penn State administration and at the least that information apparently was not made available to the people voting to approve this deal. The motivations of the people approving this deal might have been genuine, but there was a serious breakdown in the flow of relevant information related to Sandusky to the people making this decision.

So at minimum it is another example of managerial incompetence at the highest level of of the Penn State administration. Normally managerial incompetence might not be a big deal, but in this case it helped build a dorm so a monster could have easier access to more children. That kind of makes it a big deal. And worthy of of plenty of outrage on its own.

 
Link

"I can't see any tax advantages," Frolik said. "If someone told me that, my reaction would be, 'Are they hoping to shield assets in case if there's personal liability?' " He added, "It sounds like an attempt to avoid personal liability in having assets in his wife's name."

.
I'm not an expert in Elder Law like this guy, but what about estate taxes? If Joe dies first, and he's older and in worse health, wouldn't she avoid some estate taxes by having the house in her name instead of in joint? Anyone know the answer?
Usually property held as Joint Tenants is with right of survivorship, which means title would pass to his wife without going through the estate, and therefore without taxation.So no, I don't believe that is the reason.

However, as has been pointed out, if the asset was held jointly, then a judgment against JoePa would not be able to get at that asset anyways, so those suggesting it was in anticipation of this event seem similarly off base.
Ah, OK thanks. Weird, usually the NYT is better than that in terms of finding out all the angles. I guess they want in on the biggest scandal in world history as well.
 
Grasping at straws imo with the land donation and house transfer.

There is enough to go on already. This ancillary stuff is dumb.
:confused: If the University knew of Sandusky's issues you don't think it's a problem if they sold him land so he could build a campground for kids?

Maybe they simply sold him the land at a discount and had no clue what he wanted it for. In that case maybe they get a pass. I'm skeptical they would sell the land to him at a discount unless they knew it was going for his charity.
Sure, I agree. However, most who are proffering this or other ancillary items are doing it for the OMG can you believe how deep this conspiracy goes?! effect. You're the first to suggest that the land transfer to Sandusky's charity was done because PSU had no idea of Sandusky's monstrous nature and that they merely felt that they were donating to a charity. Most are suggesting that it is a payoff as part of a massive coverup by the university. That is the kind of implication the Leeroy is calling 'dumb' and I tend to agree.
I did not take the sale of land to be any part of a cover up, just another example of extremely poor decision making by Penn State. At least some of the people involved had to be aware of the accusations against Sandusky and yet it appears they facilitated a cheap land sale to help him build a dormitory for sleep over camp for small boys. As least on the surface with admittedly limited data this looks like another amazingly poor choice made by those in charge.
Or evidence that very few people knew the truth about this monster and Penn State was doing what would otherwise be a genuinely good deed.
That doesnt make a very good story. Needs way more outrage.
Penn State sold land on the cheap to a man accused of being a pedophile to help him build a dorm for sleep away camp for young children. That is a problem. That does not mean it was part of some vast conspiracy or cover up, but it is still a problem.I suspect at least the majority of people(if not all) voting to give Second Mile a deal on land to build a dorm did it with the best of intentions. Like IB said it could indicate that few people knew the truth and this deal was viewed a genuinely good deed. But that does not change that fact that these accusations against Sandusky were known by high ranking people in the Penn State administration and at the least that information apparently was not made available to the people voting to approve this deal. The motivations of the people approving this deal might have been genuine, but there was a serious breakdown in the flow of relevant information related to Sandusky to the people making this decision.

So at minimum it is another example of managerial incompetence at the highest level of of the Penn State administration. Normally managerial incompetence might not be a big deal, but in this case it helped build a dorm so a monster could have easier access to more children. That kind of makes it a big deal. And worthy of of plenty of outrage on its own.
Do we know when Sandusky bought the land? If it was at the time of his retirement (1999) then it was after the 1998 incident which had been cleared by police. Not giving PSU a pass, but I don't think this is as big a deal as if it would have been if it had happened after the 2002 incident.
 
Link

"I can't see any tax advantages," Frolik said. "If someone told me that, my reaction would be, 'Are they hoping to shield assets in case if there's personal liability?' " He added, "It sounds like an attempt to avoid personal liability in having assets in his wife's name."

.
I'm not an expert in Elder Law like this guy, but what about estate taxes? If Joe dies first, and he's older and in worse health, wouldn't she avoid some estate taxes by having the house in her name instead of in joint? Anyone know the answer?
Usually property held as Joint Tenants is with right of survivorship, which means title would pass to his wife without going through the estate, and therefore without taxation.So no, I don't believe that is the reason.

However, as has been pointed out, if the asset was held jointly, then a judgment against JoePa would not be able to get at that asset anyways, so those suggesting it was in anticipation of this event seem similarly off base.
Right. Which is why I was confused in the first place.
 
I did not take the sale of land to be any part of a cover up, just another example of extremely poor decision making by Penn State.
Maybe, but it reminds me of this excerpt from Gary Schultz's grand jury testimony:
"Sandusky retired when Paterno felt it was time to make a coaching change and also to take advantage of an enhanced retirement benefit under Sandusky's state pension."
Maybe they conspired to give him that land in exchange for his early retirement and his silence?
 
I did not take the sale of land to be any part of a cover up, just another example of extremely poor decision making by Penn State.
Maybe, but it reminds me of this excerpt from Gary Schultz's grand jury testimony:
"Sandusky retired when Paterno felt it was time to make a coaching change and also to take advantage of an enhanced retirement benefit under Sandusky's state pension."
Maybe they conspired to give him that land in exchange for his early retirement and his silence?
Unlikely. This is written as though the benefit is part of the state pension package offered to many/most state employees, as Sandusky would have been as an employee of a state school. This doesn't read as though it was a 'special' retirement benefit for him going away quietly.But keep looking.

 
I did not take the sale of land to be any part of a cover up, just another example of extremely poor decision making by Penn State.
Maybe, but it reminds me of this excerpt from Gary Schultz's grand jury testimony:
"Sandusky retired when Paterno felt it was time to make a coaching change and also to take advantage of an enhanced retirement benefit under Sandusky's state pension."
Maybe they conspired to give him that land in exchange for his early retirement and his silence?
Unlikely. This is written as though the benefit is part of the state pension package offered to many/most state employees, as Sandusky would have been as an employee of a state school. This doesn't read as though it was a 'special' retirement benefit for him going away quietly.But keep looking.
You're not really saying that you think land is offered to every state employee when they retire are you?
 
'CrossEyed said:
'Idiot Boxer said:
'Sea Duck said:
'Wadsworth said:
I did not take the sale of land to be any part of a cover up, just another example of extremely poor decision making by Penn State.
Maybe, but it reminds me of this excerpt from Gary Schultz's grand jury testimony:
"Sandusky retired when Paterno felt it was time to make a coaching change and also to take advantage of an enhanced retirement benefit under Sandusky's state pension."
Maybe they conspired to give him that land in exchange for his early retirement and his silence?
Unlikely. This is written as though the benefit is part of the state pension package offered to many/most state employees, as Sandusky would have been as an employee of a state school. This doesn't read as though it was a 'special' retirement benefit for him going away quietly.But keep looking.
You're not really saying that you think land is offered to every state employee when they retire are you?
No I'm saying the land was not the "enhanced retirement benefit" referenced in quote 2.
 
'CrossEyed said:
'Idiot Boxer said:
'Sea Duck said:
'Wadsworth said:
I did not take the sale of land to be any part of a cover up, just another example of extremely poor decision making by Penn State.
Maybe, but it reminds me of this excerpt from Gary Schultz's grand jury testimony:
"Sandusky retired when Paterno felt it was time to make a coaching change and also to take advantage of an enhanced retirement benefit under Sandusky's state pension."
Maybe they conspired to give him that land in exchange for his early retirement and his silence?
Unlikely. This is written as though the benefit is part of the state pension package offered to many/most state employees, as Sandusky would have been as an employee of a state school. This doesn't read as though it was a 'special' retirement benefit for him going away quietly.But keep looking.
You're not really saying that you think land is offered to every state employee when they retire are you?
No I'm saying the land was not the "enhanced retirement benefit" referenced in quote 2.
Gotcha. Wasn't following what you were saying.
 
'Go DC Yourself said:
Without more, the Paterno house transfer indicates nothing. Surely the NYT has reporters that can figure out that even a half million dollar home represents a small fraction of Paterno's assets.
:goodposting: The State College house is less than 1/6 of the value of his house in Avalon, NJ.
 
'CrossEyed said:
'Idiot Boxer said:
'Sea Duck said:
'Wadsworth said:
I did not take the sale of land to be any part of a cover up, just another example of extremely poor decision making by Penn State.
Maybe, but it reminds me of this excerpt from Gary Schultz's grand jury testimony:
"Sandusky retired when Paterno felt it was time to make a coaching change and also to take advantage of an enhanced retirement benefit under Sandusky's state pension."
Maybe they conspired to give him that land in exchange for his early retirement and his silence?
Unlikely. This is written as though the benefit is part of the state pension package offered to many/most state employees, as Sandusky would have been as an employee of a state school. This doesn't read as though it was a 'special' retirement benefit for him going away quietly.But keep looking.
You're not really saying that you think land is offered to every state employee when they retire are you?
No I'm saying the land was not the "enhanced retirement benefit" referenced in quote 2.
Gotcha. Wasn't following what you were saying.
You're just post padding now
 
'Idiot Boxer said:
'ConstruxBoy said:
'CrossEyed said:
Link

"I can't see any tax advantages," Frolik said. "If someone told me that, my reaction would be, 'Are they hoping to shield assets in case if there's personal liability?' " He added, "It sounds like an attempt to avoid personal liability in having assets in his wife's name."

.
I'm not an expert in Elder Law like this guy, but what about estate taxes? If Joe dies first, and he's older and in worse health, wouldn't she avoid some estate taxes by having the house in her name instead of in joint? Anyone know the answer?
Usually property held as Joint Tenants is with right of survivorship, which means title would pass to his wife without going through the estate, and therefore without taxation.So no, I don't believe that is the reason.

However, as has been pointed out, if the asset was held jointly, then a judgment against JoePa would not be able to get at that asset anyways, so those suggesting it was in anticipation of this event seem similarly off base.
That's what I thought. That's why the transfer kinda puzzled me. Think JoePa just got bad legal advice?
 
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'Doctor Detroit said:
According to SPORTSbyBROOKS

Source close to current Penn St Trustee told me today school may have no choice to keep Bradley on b/c he knows where bodies are buried.
This makes no sense to me and will kill any chance PSU has of recovering from this any time soon.
Can we please just stop?(I'm speaking in general terms, CrossEyed, not specifically to you.)
Stop what, specifically?
C'mon. Now they're talking about bodies?
You serious Clark?
Do you really think it matters, Eddie?
Best exchange in the Vacation movies
 
I seriously can't believe that Sandusky is out on bail, living 1000 ft from an elementary school. Why does no one care about this???

 
'CrossEyed said:
'Idiot Boxer said:
'Sea Duck said:
'Wadsworth said:
I did not take the sale of land to be any part of a cover up, just another example of extremely poor decision making by Penn State.
Maybe, but it reminds me of this excerpt from Gary Schultz's grand jury testimony:
"Sandusky retired when Paterno felt it was time to make a coaching change and also to take advantage of an enhanced retirement benefit under Sandusky's state pension."
Maybe they conspired to give him that land in exchange for his early retirement and his silence?
Unlikely. This is written as though the benefit is part of the state pension package offered to many/most state employees, as Sandusky would have been as an employee of a state school. This doesn't read as though it was a 'special' retirement benefit for him going away quietly.But keep looking.
You're not really saying that you think land is offered to every state employee when they retire are you?
No I'm saying the land was not the "enhanced retirement benefit" referenced in quote 2.
Do you think this whole land sale/2nd mile/ect theory ties into the rumor Mark Madden talked about on the WEEI radio station? I have not been able to go through this whole thread, so I am not sure if it has been discussed. In regards to using this organization to funnel young boys to sicko boosters. Has that theory been debunked yet?

 
'CrossEyed said:
'Idiot Boxer said:
'Sea Duck said:
'Wadsworth said:
I did not take the sale of land to be any part of a cover up, just another example of extremely poor decision making by Penn State.
Maybe, but it reminds me of this excerpt from Gary Schultz's grand jury testimony:
"Sandusky retired when Paterno felt it was time to make a coaching change and also to take advantage of an enhanced retirement benefit under Sandusky's state pension."
Maybe they conspired to give him that land in exchange for his early retirement and his silence?
Unlikely. This is written as though the benefit is part of the state pension package offered to many/most state employees, as Sandusky would have been as an employee of a state school. This doesn't read as though it was a 'special' retirement benefit for him going away quietly.But keep looking.
You're not really saying that you think land is offered to every state employee when they retire are you?
No I'm saying the land was not the "enhanced retirement benefit" referenced in quote 2.
Do you think this whole land sale/2nd mile/ect theory ties into the rumor Mark Madden talked about on the WEEI radio station? I have not been able to go through this whole thread, so I am not sure if it has been discussed. In regards to using this organization to funnel young boys to sicko boosters. Has that theory been debunked yet?
No, I don't think it does. I'm sure some do.That theory hasn't been debunked yet. But it is without any source or backup. The flimsiest of all of the deep conspiracy/coverup theories going as of right now.

 
I seriously can't believe that Sandusky is out on bail, living 1000 ft from an elementary school. Why does no one care about this???
Since our justice system believes in the presumption of innocence, people have a right to a reasonable bail. I'd guess there are additional terms of his release (probably similar to sex offender terms) and wouldn't doubt that the whole community is on the lookout for him. Therefore, if he takes any step towards violating the conditions of release, especially my trying to commit a new crime, he'd have to forfeit the 100k, likely forfeits his right to bail, and could be facing much harsher sentencing ranges (admittedly, I'm not familiar with PA sentencing structures but in AZ his range of potential sentences would increase significantly). He is a weirdo pedophile, but I don't think he is a total idiot. While in my experience that is a lower bond for these charges and his background, the kids should still be safe.
 
Do you think this whole land sale/2nd mile/ect theory ties into the rumor Mark Madden talked about on the WEEI radio station? I have not been able to go through this whole thread, so I am not sure if it has been discussed. In regards to using this organization to funnel young boys to sicko boosters. Has that theory been debunked yet?
Other than being an unsubstantiated rumor, no it has not be debunked.
 
Do you think this whole land sale/2nd mile/ect theory ties into the rumor Mark Madden talked about on the WEEI radio station? I have not been able to go through this whole thread, so I am not sure if it has been discussed. In regards to using this organization to funnel young boys to sicko boosters. Has that theory been debunked yet?
Other than being an unsubstantiated rumor, no it has not be debunked.
The original source of the rumor claimed it was being investigated by some top journalists as if that lent credence to the rumor. Now if those top journalists end up missing or dead like the DA, there may be something to it...
 
he'd have to forfeit the 100k
100k vs life in prison. tough call.
i'm not sure what your point is. If you're suggesting he may run, then sure the 100k forfeit may be a small price to pay to maybe keep/get more time out given his potential sentence. I would agree the bond is pretty low because he is a strong flight risk IMO. However, I was replying to a guy who was upset he was out and close to a school. This implies he is a danger to the community, particularly to the children at that school. I was pointing out why his release conditions will likely deter him from doing anything there.
 
Paterno, 80, told more than 300 people at Wednesday's Penn State Quarterback Club's luncheon about the run-in on a campus street. The weekly luncheon, attended by alumni and monetary donors, is normally treated as off the record and is closed to the media. The Post-Gazette cited "multiple sources who attended" the luncheon as the basis for its report.

The newspaper's report continued:

Paterno said at the luncheon that after his close call Friday, he pulled over, exited his car, approached the other vehicle and shook his finger at the driver. He warned her to "watch it."

"Be careful," Paterno said. "I have your license number, and I will call the police on you."
http://www.startribune.com/sports/11718886.html
 
Paterno, 80, told more than 300 people at Wednesday's Penn State Quarterback Club's luncheon about the run-in on a campus street. The weekly luncheon, attended by alumni and monetary donors, is normally treated as off the record and is closed to the media. The Post-Gazette cited "multiple sources who attended" the luncheon as the basis for its report.

The newspaper's report continued:

Paterno said at the luncheon that after his close call Friday, he pulled over, exited his car, approached the other vehicle and shook his finger at the driver. He warned her to "watch it."

"Be careful," Paterno said. "I have your license number, and I will call the police on you."
http://www.startribune.com/sports/11718886.html
Updated: October 11, 2007 - 5:29 PM
Did you know that......Ah, screw it.
 
he'd have to forfeit the 100k
100k vs life in prison. tough call.
i'm not sure what your point is. If you're suggesting he may run, then sure the 100k forfeit may be a small price to pay to maybe keep/get more time out given his potential sentence. I would agree the bond is pretty low because he is a strong flight risk IMO. However, I was replying to a guy who was upset he was out and close to a school. This implies he is a danger to the community, particularly to the children at that school. I was pointing out why his release conditions will likely deter him from doing anything there.
Obviously he's a huge flight risk. I also don't think the 100k means anything to him. Sounds like he didn't even put anything up.
 
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