Our criticisms of the MSU administration are not credible unless we also examine UM
When appropriate.
Apparently, Dave Brandon is still employed at UM, he merely changed his name to L. Eric Lundberg and now runs the UM endowment investment area.
Reading this, he's a DB on the level of the original DB (Dave Brandon).
I personally smack MSU for its misdeeds at every opportunity. I'd be a hypocrite if I overlooked media reports of possible corruption on the UM campus.
Freep warning: https://www.freep.com/story/news/local/michigan/2018/05/04/university-m…
my MSU bashing is 103% credible and I refuse to acknowledge any and all negative deeds at Michigan whether committed by students, faculty or admin staff ...... so there. Take that OP.
False. One's personal opinion regarding MSU's various issues is irrelevant to an allegation of corrpution at UM. It might be wise for UM to continually review its own policies and practices, but that bit of wisdom holds true regardless of what is happening in East Lansing or anywhere else.
But good on you for trying to rile up the masses. Frankly, however, it comes off as a high-handed attempt to garner consensus by virtue signaling and shaming those who might not have the same opinion as you. Well done though for living up to your self-established moral code by being equally offended by the same perceived injustice based upon your interpretation fo the facts that you've chosen to believe at this moment in time. You're a good social justice warrior. Give yourself a gold star.
Sex crimes with potential financial crimes, but the parallels are undeniable.
Complaints raised about Nassar - MSU admins deny, delay bury.
Complaints raised about this DB clone - UM admins deny, delay bury.
Investigation/audit begins - MSU appoints Nassar cronies to investigate his medical "treatments"
Investigation/audit begins - UM DB in financial office insists that he gets to pick the auditors
Both Presidents seem to also have shit the bed on these issues, and have allowed the inmates to run the asylums.
I do not think the conduct of this idiot should be overlooked at UM.
You seem to be taking this issue rather personally, since you're insisting on digging your hole deeper. What exactly are you so butthurt about? Do you have a vested financial interest in here somehow?
I am so tired of people like you.
I read this earlier, and what it seems to be is a dispute between two departments on how audits are conducted and whether the standards applied would be the same for any University of Michigan department vs the standards for an independently run $11 billion fund.
On one hand, you have the internal compliance group at M accustomed to looking at academic departments and bodies and conducting a standard accounting audit of what is essentially a huge, independently run investment fund and I think Lundberg's contention is they aren't the same.
Schlissel clearly states that they are not the same and clearly admits that they have taken too long to resolve the issue. Big deal.
The gifts in question are a set of Timo luggage, some expensive clothing and a few business class flights. Meh.
It also mentions the potential for a conflict of interest for the fund manager, which I think they did already address fairly quickly by establishing a new and separate oversight committee to address that. I don't think there is any actual accusation of wrongdoing here.
The only even partially troubling item is the possible funnleing of investments to people that donated large sums to the university. Not sure if there is actualy a crime involved in that, or just bad optics and some potential for bad decisions without oversight.
I can't believe you actually tried to equate this with the MSU situation.
double post
Does not mean what you think it means. The word you are looking for is "equate."
As a sidenote, somehow, the Freep saw fit to publish three articles on the topic. MLive, DetNews, and other media outlets? Zero.
I mean, it's important work to do, for sure. Absolutely wrong, unethical behavior by some of individuals.
However, this has nothing to do with credibly criticizing what happened and continues to happen at msu. It's not as if that is somehow less true because some fund managers got away with some unethical crap for a few years.
You do realize that it is common practice for organizations to pick their auditors. It's not like they pick someone off of the street, they are choosing from a handful of accredited accounting firms.
Frankly, the concept that an internal auditing group would be the appropriate organization to audit an $11B investment fund is the concern. An independent third-party should perform the audit for obvious reasons.
They do have an independent external audit firm performing their audit. Internal audit is not allowed to perform an audit of a company's financial. Company's have both an an independent auditor and internal audit group, they do different things.
I have worked as an auditor. I have worked for the very firm now hired to perform an independent audit of the endowment office. What happened at UM is relatively minor operational issue, and the events that occured actually provide more comfort to me that they would appropriately address a more serious issue.
Really the events are - 2014 inernal audit makes findings -> CIO disagrees ->Tensions increase between internal audit and endowment office ->UM president admits some errors and hires external auditors to review. In fairness, they were a bit slow to address, but not because they feared reprecussions - frankly, i think its because they just didn't really understand/had more interesting things to address. Seriously, try reading the audit report and stay awake all the way through. I work in finance, things like audit findings are nearly impossible to get the attention of Boards unless they are really serious (i.e. embezzelement, major accounting error, etc). Ultimately, Schlissel has admited some mistakes and is working to address and learn.
MSU on the other hand has girls making accusations back in 1997. In the subsequent years several people try to bury accusations from getting out. Nassar is investigated by police but still allowed to practice. MSU pres is told of FBI investigation and says "play it by the book". Eventually Nassar is fired and this hits media. MSU Board defends president because she raised a lot of money. MSU continues to do everything it can to mitigate legal exposure while not admitting wrongdoing.
'I'm not trying to equivocate sex crimes with potential financial crimes, but the parallels are undeniable."
"I'm not trying to say that a rusty spike in the eye socket is the same thing as possibly stubbing your toe, but their similarities are impossible to deny."
Sorry, but it's really dumb to try to make any kind of link.
Think about how dumb it would be for MSU to use the same logic. No one can criticize us as long as we can find something to criticize them for.
Brian literally covered this topic 3 months ago in the self assessment he posted on this here blog.
Yes. Brian's was just more accurate and compared apples to apples issues (FOIA response at UM vs MSU / sexual assault response at UM vs MSU) and explained the differences between the failures of each university.
This post instead is equating two potentially wrong responses just because in the OP's mind both are wrong.
To continue the comparison trend with the two posts. One good, one bad.
but I would rather have (hyphothetically) Michigan part of a money fraud scandal than a multi-year, hundred plus victum sexual assault coverup.
I'm still going to talk shit about MSU.
with the biggest serial rape case in US history, though, or why you would want to suggest some equivalence. Unavailing at best, likely to draw scorn at worst.
Also: I am fascinated that the Freep has done nothing of this lavish kind with the MSU stories. I guess their readership really might tilt to MSU fans and grads? Puzzling. . .
MSU fans/grads can read?
Uh...huh...
Wife outta town?
Well we found today's negbang post.
The mods will be active today
yawn...
I have never seen that gif. By far the best of all the hilarious gifs on this thread.
This should be pinned to the top for anyone claiming any bullshit based on the artcle alone
And never come back
Also, as long as they are qualified, there's zero inherently wrong with placing endowment money with alumni investment managers. I would even say it's preferred over other strategies as they have some skin in the gane with regards to institutional reputation and harm. A UofM alum will most likely be MORE careful when managing UofM money than other people will.....
Brandon, for all the criticisms here, inherited RR and had to tackle Practicegate, and he did so like a champ... he also sent Tate Forcier out on a rail, for academic reasons, and that was terrible for the football team regarding skill.... he did so for the right reasons. and Hollis? LMAO.
The Morris concussion episode was unfortunate, but that is the worst it got.
So lets not dare to compare MSU's situation here....
This thread and statement by the OP has to be the stupedist one so far, of 2018.