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$250M is a lot of tithing - BSA Settlement Fund

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  • $250M is a lot of tithing - BSA Settlement Fund

    The Church will be contributing $250 million to the fund for abuse claimants. The attorney for a bunch of claimants doesn't like it, saying "it is offering a paltry $250 million to compensate the thousands of abuse survivors who were abused in Mormon Boy Scout troops by Mormon Scout leaders," but he didn't bother suing any long-since-dead Mormon Scout leaders, or the Church itself. I'm assuming that the $250M is in settlement of any third-party indemnity or contribution claims in favor of the BSA.

    https://www.sltrib.com/religion/loca...s-settlements/

  • #2
    Originally posted by LVAllen View Post
    The Church will be contributing $250 million to the fund for abuse claimants. The attorney for a bunch of claimants doesn't like it, saying "it is offering a paltry $250 million to compensate the thousands of abuse survivors who were abused in Mormon Boy Scout troops by Mormon Scout leaders," but he didn't bother suing any long-since-dead Mormon Scout leaders, or the Church itself. I'm assuming that the $250M is in settlement of any third-party indemnity or contribution claims in favor of the BSA.

    https://www.sltrib.com/religion/loca...s-settlements/
    This ought to be covered by insurance. I wonder what the limits are.
    When a true genius appears, you can know him by this sign: that all the dunces are in a confederacy against him.

    --Jonathan Swift

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    • #3
      Originally posted by SeattleUte View Post

      This ought to be covered by insurance. I wonder what the limits are.
      I would have thought the church would be self-insured for things like this. No way they are getting insurance all the way down to the Scout Master level.
      Ain't it like most people, I'm no different. We love to talk on things we don't know about.

      "The only one of us who is so significant that Jeff owes us something simply because he decided to grace us with his presence is falafel." -- All-American

      GIVE 'EM HELL, BRIGHAM!

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      • #4
        Originally posted by falafel View Post

        I would have thought the church would be self-insured for things like this. No way they are getting insurance all the way down to the Scout Master level.
        Most self insured companies are reinsured for catastrophic losses. I bet there’s a cap in the church’s exposure, but when you have $100b sitting around that cap is probably high.

        "Discipleship is not a spectator sport. We cannot expect to experience the blessing of faith by standing inactive on the sidelines any more than we can experience the benefits of health by sitting on a sofa watching sporting events on television and giving advice to the athletes. And yet for some, “spectator discipleship” is a preferred if not primary way of worshipping." -Pres. Uchtdorf

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        • #5
          In other news, that lawsuit against the church filed by one of the dumb Huntsman brothers was thrown out of court yesterday.
          "There is no creature more arrogant than a self-righteous libertarian on the web, am I right? Those folks are just intolerable."
          "It's no secret that the great American pastime is no longer baseball. Now it's sanctimony." -- Guy Periwinkle, The Nix.
          "Juilliardk N I ibuprofen Hyu I U unhurt u" - creekster

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          • #6
            Originally posted by Moliere View Post

            Most self insured companies are reinsured for catastrophic losses. I bet there’s a cap in the church’s exposure, but when you have $100b sitting around that cap is probably high.
            Correct.
            When a true genius appears, you can know him by this sign: that all the dunces are in a confederacy against him.

            --Jonathan Swift

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            • #7
              Originally posted by Jeff Lebowski View Post
              In other news, that lawsuit against the church filed by one of the dumb Huntsman brothers was thrown out of court yesterday.
              "Discipleship is not a spectator sport. We cannot expect to experience the blessing of faith by standing inactive on the sidelines any more than we can experience the benefits of health by sitting on a sofa watching sporting events on television and giving advice to the athletes. And yet for some, “spectator discipleship” is a preferred if not primary way of worshipping." -Pres. Uchtdorf

              Comment


              • #8
                Originally posted by Moliere View Post

                The opinion was a fun read. Judge basically said when you look at the whole quote of Pres Hinckley in context there is no way any reasonable juror could find fraud because the church did exactly what he said it would do: use money from the commercial pursuits and the earnings from the reserve fund seeded by tithing.
                “Every player dreams of being a Yankee, and if they don’t it’s because they never got the chance.” Aroldis Chapman

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                • #9
                  I hope every BSA leader who ever abused a boy is discovered and prosecuted. And I've got no problem with victims of those abuses being compensated for their pain.

                  But the ambulance-chasing attorney ads I've seen on TV asking "Were you molested by a Mormon/Boy Scout leader?" make me laugh.

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                  • #10
                    Originally posted by Copelius View Post

                    The opinion was a fun read. Judge basically said when you look at the whole quote of Pres Hinckley in context there is no way any reasonable juror could find fraud because the church did exactly what he said it would do: use money from the commercial pursuits and the earnings from the reserve fund seeded by tithing.
                    Link?
                    "I think it was King Benjamin who said 'you sorry ass shitbags who have no skills that the market values also have an obligation to have the attitude that if one day you do in fact win the PowerBall Lottery that you will then impart of your substance to those without.'"
                    - Goatnapper'96

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                    • #11
                      Originally posted by Pelado View Post

                      Link?
                      https://www.scribd.com/document/5253...oad&from_embed
                      “Every player dreams of being a Yankee, and if they don’t it’s because they never got the chance.” Aroldis Chapman

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                      • #12
                        I thought this list and link would best fit in this thread.

                        Top 100 Largest Endowment Rankings by Total Assets - SWFI (swfinstitute.org)

                        When poet puts pen to paper imagination breathes life, finding hearth and home.
                        -Mid Summer's Night Dream

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                        • #13
                          Originally posted by clackamascoug View Post
                          I thought this list and link would best fit in this thread.

                          Top 100 Largest Endowment Rankings by Total Assets - SWFI (swfinstitute.org)
                          Ensign probably makes $250 million a week off of their investments. I wonder what % of the cases came from within the church.

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                          • #14
                            Originally posted by RC Vikings View Post

                            Ensign probably makes $250 million a week off of their investments. I wonder what % of the cases came from within the church.
                            I'm guessing 69%

                            When poet puts pen to paper imagination breathes life, finding hearth and home.
                            -Mid Summer's Night Dream

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                            • #15
                              Super interesting list. Surprised to see some of those universities with such big endowments.
                              "There is no creature more arrogant than a self-righteous libertarian on the web, am I right? Those folks are just intolerable."
                              "It's no secret that the great American pastime is no longer baseball. Now it's sanctimony." -- Guy Periwinkle, The Nix.
                              "Juilliardk N I ibuprofen Hyu I U unhurt u" - creekster

                              Comment

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