Saturday, May 20, 2017

UW On Notice About UW-Oshkosh Fraud

Rep. Steve Nass has put the UW system on notice:  no taxpayer money shall be used to cover UW system's crappy-to-non-existent oversight in the Oshkosh foundation case, nor to cover the stupidity of lender/bankers.

Nass is right.  Some bankers failed to exercise due diligence?  That's their problem, not the problem of Wisconsin taxpayers.  Was the UW System's (seeming) disregard for financial controls a contributing cause?  Let the banks sue--at considerable expense--to find out.

And if UW loses that suit?  Well, then, there will be a reduction in State funding which matches whatever the system has to pay out.  The reduction should be squeezed out of the System's executive and audit offices.  Lesson learned.

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