Ball States board of trustees have decided to bury the losses from the 2008 investment fraud perpetrated by aggressive investment brokers and an inexperienced 60 year old investment manager hired by Ball State. She chased high returns on CMOs like many other investment managers across the globe and they all got burned. The fraud was perpetrated by Wall Street on the global investment community and when it all went south, U.S. taxpayers got to bail out the financial industry - in fact, we are still bailing them out to the tune of $14 trillion. Ball State was actually swindled by crooks, but never knew they were swindled for 3 years after the $13.1 million investments were lost. The second part of this story is the white-washing that has taken place by Ball State with the Gannett owned, The StarPress. The StarPress has already censored me off their comment section and now the The Ball State Daily News has followed suit as my comment from Saturday night is still pending in their comment section. We certainly understand the whole situation is embarrassing, but there appears to be a level of internal cover-up ongoing within the university.
Posted on: Wed, 19 Nov 2014 17:07:44 +0000
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