“Trust”ing the NU Foundation, NELNET (aka UNION Bank) & the Barkley Trust…BFF’s? or What’s up with the troika?

July 4, 2012


6:46 pm on July 3rd, 2012

@ Country: I will take exception to this sentence you wrote, “Everyone in Nebraska knows the government pays for EVERYTHING in Lincoln!.

Not everything, Sir or Madame.

I’ve been trying to find out whether the NU-Foundation’s Barkley Trust – overseen by UNION Bank (aka as NELNET) – in essence “PAID FOR” (also known as capitalized) NELNET’s segueing from an ostensible Nebraska “non-profit” to a NYSE company) – meaning that an NU Trust of more than $30 MILLION DOLLARS ended up “paying for,” to use your phrase, NELNET to become a predatory student loan company, one that “fleeced” the FEDS so egregiously that President Bush ’41 gave a national “Inspectors General” award to the Inspectors General who uncovered NELNET’s “Project 9.5″ scandal-a scheme that NELNET managed to pull off with the help of NU – & NELNET’s unprecedented “use” of a lucrative FEDERAL subsidy – meant to go to hard-working students, not “middle men” Bankers.

If the Barkley Trust “paid for” that, TALK about IRONY.

The premier fiduciary obligation of “Bankers/Trustees” as in UNION Bank’s Barkley Trust which the Barkley family gave to NU & the NU Foundation – is to diversify assets not to “load up,” if you will, on assets of the Bank – UNION – overseeing (aka “managing” the Trust. As in NELNET moving on up to the New York Stock Exchange. Hmmm.

Can ANYONE in the Nebraska media explain the relationship between the Barkley Trust, NU, the NU Foundation, & NELNET?

Oh, and the 880,000 shares of NELNET stock that the NU Foundation just “happened” to sell when NELNET was trading at its very highest before the Department of Education shut down the scam and refused to pay NELNET for the entire BILLION BUCKS that NELNET had – swear to God – billed the U.S. Department of Education as part of their “Project 9.5.” What’s up with that?

UNION Bank & the NU Foundation have a duty to account for all Barkley Trust funds; my question is, have they?

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