4um: Paterno Passed On Home to His Wife for $1

Status: Not Logged In; Sign In
Pious Perverts
See other Pious Perverts Articles
Title: Paterno Passed On Home to His Wife for $1
Source: New York Slimes
URL Source: http://www.nytimes.com/2011/11/16/s ... me-to-his-wife-for-1.html?_r=3
Published: Nov 16, 2011
Author: MARK VIERA and PETE THAMEL
Post Date: 2011-11-16 15:02:20 by Original_Intent
Keywords: Pedd State, knew, avoid, judgment
Views: 1137
Comments: 22

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.

if (typeof NYTDVideoManager != "undefined") { NYTDVideoManager.setAllowMultiPlayback(false); }
function displayCompanionBanners(banners, tracking) { tmDisplayBanner(banners, "videoAdContent", 300, 250, null, tracking); }
Multimedia

Interactive Feature
Timeline: The Penn State Scandal

Related
In Sandusky’s Birthplace, the Man They Knew (November 16, 2011)
The Tv Watch: Sandusky Turns to TV to Break Silence (November 16, 2011)

The Quad: The Right Questions (November 15, 2011)
Media Decoder Blog: For Costas, Sandusky Interview Came as a Surprise (November 15, 2011)

Related in Opinion
Room for Debate: Should Penn State Cancel Its Season? (November 10, 2011)

Interviews, insight and analysis from The Times on the competition and culture of college football.

Go to The Quad Blog

Division I-A
This Week's Games

A.P. and Coaches' Polls
Scores: Top 25 | All Div. I-A
Conference Standings
All Div. I-A Teams

Division I-AA

Scores | Teams | Polls

Documents filed in Centre County, Pa., show that on July 21 the Paternos’ 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.
Click for Full Text!
Poster Comment:
Yeah, this was estate planning alright. With a Grand Jury investigation of the Pedd State Football program going on and what he had to know about the University's cover-up of the situation I'm sure it was just "estate planning". Yeah, I believe that, sure, you betcha.(3 images)
Post Comment Private Reply Ignore Thread
Top • Page Up • Full Thread • Page Down • Bottom/Latest
#1. To: Original_Intent (#0)
deleted
The relationship between morality and liberty is a directly proportional one.
None are more hopelessly enslaved than those who falsely believe they are free.
- Johann Wolfgang von Goethe, 1749-1832
Eric Stratton posted on 2011-11-16 15:07:08 ET Reply Trace Private Reply
#2. To: Eric Stratton (#1)
Now that you mention it ...
Dead fish?
Several day old dead fish?
Remember The White Rose"“Believe nothing merely because you have been told it. Do not believe what your teacher tells you merely out of respect for the teacher. But whatsoever, after due examination and analysis, you find to be kind, conducive to the good, the benefit, the welfare of all beings - that doctrine believe and cling to, and take it as your guide.” ~ Gautama Siddhartha — The Buddha
Original_Intent posted on 2011-11-16 15:23:03 ET Reply Trace Private Reply
#3. To: Original_Intent (#0)
Paterno Passed On Home to His Wife for $1
I'm sure it was just "estate planning". Yeah, I believe that, sure, you betcha.

Yup. Righto! ;)
"When bad men combine, the good must associate; else they will fall, one by one." Edmund Burke
BTP Holdings posted on 2011-11-16 16:50:07 ET Reply Trace Private Reply
#4. To: BTP Holdings (#3)
deleted
The relationship between morality and liberty is a directly proportional one.
None are more hopelessly enslaved than those who falsely believe they are free.
- Johann Wolfgang von Goethe, 1749-1832
Eric Stratton posted on 2011-11-16 16:59:03 ET Reply Trace Private Reply
#5. To: Original_Intent (#0)
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.

Why sure, we all believe that, Wick! Uh huh. I know that since you are a lawyer you wouldn't make any claims that weren't 100% true and correct to the best of your belief and knowledge.
Liberty is not a means to a higher political end. It is itself the highest political end. Lord Acton
The human herd stampedes on the fields of facts and the valleys of truth to get to the desert of ignorance. Saman Mohammadi
The only difference between genius and stupidity is that genius has its limits. Albert Einstein
"...if the military is going to defend our freedoms, then we need freedoms to defend. Our freedoms must be restored before the military can defend them..." Lawrence M. Vance
Você me trata desse jeito só porque eu sou preto. Junior (my youngest son)
James Deffenbach posted on 2011-11-16 18:41:16 ET Reply Trace Private Reply
#6. To: Original_Intent (#0)
That's reasonable appreciation.
Except that it just reflects the devaluation of the USD, and not any more value of the home itself.
And if 84y/o dude with his wealth is not doing some estate planning, he's nuts.
Good on Joe for looking after Mrs.Pa.
Break the Conventions - Keep the Commandments - G.K.Chesterson

Lod posted on 2011-11-16 18:42:03 ET Reply Trace Private Reply
#7. To: Lod (#6)
Good on Joe for looking after Mrs.Pa.

Well, yes and no. If it was simply a dodge to avoid paying judgments lodged against him it is just one more dishonesty. Oh, I don't blame him for it, but it is entirely possible that a court might rule it to be a dodge and take it anyway.
Best insurance would have been to do the right thing in the first place.
Remember The White Rose"“Believe nothing merely because you have been told it. Do not believe what your teacher tells you merely out of respect for the teacher. But whatsoever, after due examination and analysis, you find to be kind, conducive to the good, the benefit, the welfare of all beings - that doctrine believe and cling to, and take it as your guide.” ~ Gautama Siddhartha — The Buddha
Original_Intent posted on 2011-11-16 18:45:13 ET Reply Trace Private Reply
#8. To: Original_Intent (#7)
As "late in the game" and as close to the time that the scandal and coverup was discovered it is very possible that it will be judged to be a scam to hide, or judgement proof, assets.
Liberty is not a means to a higher political end. It is itself the highest political end. Lord Acton
The human herd stampedes on the fields of facts and the valleys of truth to get to the desert of ignorance. Saman Mohammadi
The only difference between genius and stupidity is that genius has its limits. Albert Einstein
"...if the military is going to defend our freedoms, then we need freedoms to defend. Our freedoms must be restored before the military can defend them..." Lawrence M. Vance
Você me trata desse jeito só porque eu sou preto. Junior (my youngest son)
James Deffenbach posted on 2011-11-16 18:47:43 ET Reply Trace Private Reply
#9. To: Original_Intent (#0)
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.

I assured his honour, "that the law was a science in which I had not much conversed, further than by employing advocates, in vain, upon some injustices that had been done me: however, I would give him all the satisfaction I was able."
I said, "there was a society of men among us, bred up from their youth in the art of proving, by words multiplied for the purpose, that white is black, and black is white, according as they are paid. To this society all the rest of the people are slaves. For example, if my neighbour has a mind to my cow, he has a lawyer to prove that he ought to have my cow from me. I must then hire another to defend my right, it being against all rules of law that any man should be allowed to speak for himself. Now, in this case, I, who am the right owner, lie under two great disadvantages: first, my lawyer, being practised almost from his cradle in defending falsehood, is quite out of his element when he would be an advocate for justice, which is an unnatural office he always attempts with great awkwardness, if not with ill-will. The second disadvantage is, that my lawyer must proceed with great caution, or else he will be reprimanded by the judges, and abhorred by his brethren, as one that would lessen the practice of the law. And therefore I have but two methods to preserve my cow. The first is, to gain over my adversary's lawyer with a double fee, who will then betray his client by insinuating that he hath justice on his side. The second way is for my lawyer to make my cause appear as unjust as he can, by allowing the cow to belong to my adversary: and this, if it be skilfully done, will certainly bespeak the favour of the bench. Now your honour is to know, that these judges are persons appointed to decide all controversies of property, as well as for the trial of criminals, and picked out from the most dexterous lawyers, who are grown old or lazy; and having been biassed all their lives against truth and equity, lie under such a fatal necessity of favouring fraud, perjury, and oppression, that I have known some of them refuse a large bribe from the side where justice lay, rather than injure the faculty, by doing any thing unbecoming their nature or their office.
"It is a maxim among these lawyers that whatever has been done before, may legally be done again: and therefore they take special care to record all the decisions formerly made against common justice, and the general reason of mankind. These, under the name of precedents, they produce as authorities to justify the most iniquitous opinions; and the judges never fail of directing accordingly.
"In pleading, they studiously avoid entering into the merits of the cause; but are loud, violent, and tedious, in dwelling upon all circumstances which are not to the purpose. For instance, in the case already mentioned; they never desire to know what claim or title my adversary has to my cow; but whether the said cow were red or black; her horns long or short; whether the field I graze her in be round or square; whether she was milked at home or abroad; what diseases she is subject to, and the like; after which they consult precedents, adjourn the cause from time to time, and in ten, twenty, or thirty years, come to an issue.
"It is likewise to be observed, that this society has a peculiar cant and jargon of their own, that no other mortal can understand, and wherein all their laws are written, which they take special care to multiply; whereby they have wholly confounded the very essence of truth and falsehood, of right and wrong; so that it will take thirty years to decide, whether the field left me by my ancestors for six generations belongs to me, or to a stranger three hundred miles off.
"In the trial of persons accused for crimes against the state, the method is much more short and commendable: the judge first sends to sound the disposition of those in power, after which he can easily hang or save a criminal, strictly preserving all due forms of law."
Here my master interposing, said, "it was a pity, that creatures endowed with such prodigious abilities of mind, as these lawyers, by the description I gave of them, must certainly be, were not rather encouraged to be instructors of others in wisdom and knowledge." In answer to which I assured his honour, "that in all points out of their own trade, they were usually the most ignorant and stupid generation among us, the most despicable in common conversation, avowed enemies to all knowledge and learning, and equally disposed to pervert the general reason of mankind in every other subject of discourse as in that of their own profession."

An excerpt from Gulliver's Travels, Chapter 32
Liberty is not a means to a higher political end. It is itself the highest political end. Lord Acton
The human herd stampedes on the fields of facts and the valleys of truth to get to the desert of ignorance. Saman Mohammadi
The only difference between genius and stupidity is that genius has its limits. Albert Einstein
"...if the military is going to defend our freedoms, then we need freedoms to defend. Our freedoms must be restored before the military can defend them..." Lawrence M. Vance
Você me trata desse jeito só porque eu sou preto. Junior (my youngest son)
James Deffenbach posted on 2011-11-16 18:51:06 ET Reply Trace Private Reply
#10. To: James Deffenbach (#8)
As "late in the game" and as close to the time that the scandal and coverup was discovered it is very possible that it will be judged to be a scam to hide, or judgement proof, assets.

That was my thought. Even if it wasn't it looks like it. It would be interesting to see when he began this entire "estate planning" thing. I would be willing to bet it began sometime after the first incident in '98, or after 2002.
Remember The White Rose"“Believe nothing merely because you have been told it. Do not believe what your teacher tells you merely out of respect for the teacher. But whatsoever, after due examination and analysis, you find to be kind, conducive to the good, the benefit, the welfare of all beings - that doctrine believe and cling to, and take it as your guide.” ~ Gautama Siddhartha — The Buddha
Original_Intent posted on 2011-11-16 18:52:35 ET Reply Trace Private Reply
#11. To: James Deffenbach (#9)
Nothing has changed since Swift's time.
Remember The White Rose"“Believe nothing merely because you have been told it. Do not believe what your teacher tells you merely out of respect for the teacher. But whatsoever, after due examination and analysis, you find to be kind, conducive to the good, the benefit, the welfare of all beings - that doctrine believe and cling to, and take it as your guide.” ~ Gautama Siddhartha — The Buddha
Original_Intent posted on 2011-11-16 18:56:23 ET Reply Trace Private Reply
#12. To: Original_Intent (#11)
Just gotten worse.
Liberty is not a means to a higher political end. It is itself the highest political end. Lord Acton
The human herd stampedes on the fields of facts and the valleys of truth to get to the desert of ignorance. Saman Mohammadi
The only difference between genius and stupidity is that genius has its limits. Albert Einstein
"...if the military is going to defend our freedoms, then we need freedoms to defend. Our freedoms must be restored before the military can defend them..." Lawrence M. Vance
Você me trata desse jeito só porque eu sou preto. Junior (my youngest son)
James Deffenbach posted on 2011-11-16 19:03:38 ET Reply Trace Private Reply
#13. To: Original_Intent, 4 (#7)
Anyone dealing with any third parties who has no Errors & Omissions, Umbrella Policy, and General Liabilities policies in place, is a goose.
I don't believe that JoePa is that stupid.
Plus, he's paying good money for good financial advice.
Break the Conventions - Keep the Commandments - G.K.Chesterson

Lod posted on 2011-11-16 19:04:17 ET Reply Trace Private Reply
#14. To: Lod (#13)
Plus, he's paying good money for good financial advice.

If he's paying good money to have some lawyer involve him in what will almost certainly look like a scam to an outsider he may not be all that smart. Should have been getting that judgment proofin' in order years ago.
Liberty is not a means to a higher political end. It is itself the highest political end. Lord Acton
The human herd stampedes on the fields of facts and the valleys of truth to get to the desert of ignorance. Saman Mohammadi
The only difference between genius and stupidity is that genius has its limits. Albert Einstein
"...if the military is going to defend our freedoms, then we need freedoms to defend. Our freedoms must be restored before the military can defend them..." Lawrence M. Vance
Você me trata desse jeito só porque eu sou preto. Junior (my youngest son)
James Deffenbach posted on 2011-11-16 19:16:23 ET Reply Trace Private Reply
#15. To: James Deffenbach (#14)
Should have been getting that judgment proofin' in order years ago.

Maybe so.
I don't know.
Break the Conventions - Keep the Commandments - G.K.Chesterson

Lod posted on 2011-11-16 19:22:26 ET Reply Trace Private Reply
#16. To: Original_Intent (#0)
It shows that Paterno expected it to hit the fan, by a week or so. This is evidence of an awareness of wrongdoing. Also, obviously, a scheme to insulate his house, and probably other assets, from the lawsuits of his victims.
The house, at least, is very likely to be considered a fraudulent conveyance and the courts will undo that $1 sale so the victims can collect something.

Shoonra posted on 2011-11-17 1:45:31 ET Reply Trace Private Reply
#17. To: Shoonra (#16)
I'm inclined to agree. As I pointed out and you reinforced this is taking place after the Grand Jury was already convened. Therefore it gives a clear impression of impropriety.
Remember The White Rose"“Believe nothing merely because you have been told it. Do not believe what your teacher tells you merely out of respect for the teacher. But whatsoever, after due examination and analysis, you find to be kind, conducive to the good, the benefit, the welfare of all beings - that doctrine believe and cling to, and take it as your guide.” ~ Gautama Siddhartha — The Buddha
Original_Intent posted on 2011-11-17 2:02:43 ET Reply Trace Private Reply
#18. To: Shoonra (#16)
The house, at least, is very likely to be considered a fraudulent conveyance and the courts will undo that $1 sale so the victims can collect something.

Not a chance. This is perfectly legal, at least here in PA. Is it hard for you to come up with such absurdities or is that a natural gift? The rich folks put this in place many years ago so they could pass on to their heirs those many millions they stole from the rest of us.
I hear that eating a lot of twinkies will make a person smarter. You need to gorge yourself on some twinkies cause right now you don't look so smsrt.

ambi posted on 2011-11-17 4:05:06 ET Reply Trace Private Reply
#19. To: Original_Intent (#17)
I'm inclined to agree. As I pointed out and you reinforced this is taking place after the Grand Jury was already convened. Therefore it gives a clear impression of impropriety.

I disagree. Last year my husband and I did this with our home and that grand jury was already conviened for over 3 years. It is a perfectly legal maneuver. It is done all the time here in PA, so if they would overturn it, they would have to overturn everyone elses. NADA chance!

ambi posted on 2011-11-17 4:13:46 ET Reply Trace Private Reply
#20. To: ambi (#19)
I disagree. Last year my husband and I did this with our home and that grand jury was already conviened for over 3 years.

Unless you or your husband are parties to the Pedd State scandal it is irrelevant.
The point is that Paterno is a party to the scandal and the Grand Jury was impaneled to investigate the crimes accruing to that scandal. Hence, he could, having inside information, well have been aware that he could be subject and liable to civil actions to seize his assets in judgment. Thus his actions could be interpreted as attempts to divest and shelter assets in such a manner as to protect them from civil judgment.
Remember The White Rose"“Believe nothing merely because you have been told it. Do not believe what your teacher tells you merely out of respect for the teacher. But whatsoever, after due examination and analysis, you find to be kind, conducive to the good, the benefit, the welfare of all beings - that doctrine believe and cling to, and take it as your guide.” ~ Gautama Siddhartha — The Buddha
Original_Intent posted on 2011-11-17 4:24:22 ET Reply Trace Private Reply
#21. To: Original_Intent (#20)
The point is that Paterno is a party to the scandal and the Grand Jury was impaneled to investigate the crimes accruing to that scandal. Hence, he could, having inside information, well have been aware that he could be subject and liable to civil actions to seize his assets in judgment. Thus his actions could be interpreted as attempts to divest and shelter assets in such a manner as to protect them from civil judgment.

NADA chance! You are just like the government goons. You've found Paterno guilty even before a trial. It "ain't" ever gonna be considered illegal before or after the fact. You and shoonra make a spectacular legal machine. Sen me one of your business cards so I can file it away in the toilet should I ever need your services.

ambi posted on 2011-11-17 9:52:56 ET Reply Trace Private Reply
#22. To: Shoonra (#16)
It shows that Paterno expected it to hit the fan, by a week or so. This is evidence of an awareness of wrongdoing. Also, obviously, a scheme to insulate his house, and probably other assets, from the lawsuits of his victims.

You and Original Intent with all your "arm chair lawyering" make me laugh. Can you hear me LOL?
Joe Paterno has been convicted by both of you, the PA State Police Commissioner, the PA governor, Tom Corbett. You twinkies ought to just strike Sandusky's name from the indictment and replace it with Paterno's.
If it is true, and we don't know the truth yet, and may never know it, McQueary told Joe Paterno about what he saw in the shower. Since McQ's evidence is now under attack with his 2 conflicting e-mails, Joe Paterno did "all that should have been required and sufficient, by passing on the information to the athletic director Curley and The head of campus police Shultz. Afterall, all he had know was what McQueary told him and pardon me if I am wrong, he was busy running a football program. The bad jdgement was when these two future jailbirds failed to do their duty and see to it that this got reported to the proper law enforcement.
Mr Shultz was actually in charge of the campus police. He more than all the others is the failed link in this case. But, there were already some evidence out there that law enforcement failed to properly investigate Sandusky and the missing DA Gricar failed to bring an indictment, and that may be why he was offed. Why can't we wait to see how this shakes out before we shoot from the hip. athere is plenty of blame to go around. How about the female judge who volunteered at Second Mile, who donated money to it, and then set Sandusky basically free on a $100,000 unsecured bail, allowing him to roam around and have the possibility to continue harming more kids? She should be removed from the judgeship and her legal license suspended permanently.
So far the only ones convicted without due process are the University president and Joe Paterno. If there was a coverup, it had to be the work of those higher up than Joe Paterno. Maybe, just maybe, it involved some of the board of directors!

ambi posted on 2011-11-17 10:36:39 ET Reply Trace Private Reply
Top • Page Up • Full Thread • Page Down • Bottom/Latest

Freedom4um

Multimedia

Timeline: The Penn State Scandal

Related

In Sandusky’s Birthplace, the Man They Knew (November 16, 2011)

The Tv Watch: Sandusky Turns to TV to Break Silence (November 16, 2011)

The Quad: The Right Questions (November 15, 2011)

Media Decoder Blog: For Costas, Sandusky Interview Came as a Surprise (November 15, 2011)

Related in Opinion

Room for Debate: Should Penn State Cancel Its Season? (November 10, 2011)

Division I-A

Division I-AA