Funding Fundis

The Rev. Jerry Falwell left a $34 million parting gift to Liberty University and Thomas Road Baptist Church when he passed away May 15.

"That means the university is completely debt-free now and beginning to work on endowment," LU Chancellor Jerry Falwell Jr. announced from the TRBC sanctuary Friday afternoon.

...His father looked at the policies as a way to ensure the future of the college, and the most recent policy was bought in September 2006, Falwell said. The insurance money will help put the rapidly-growing university on solid footing. LU expects more than 10,000 students on campus this year.

"It allows us to remain committed to what Liberty is all about," Falwell said.

Uh.. shouldn't the question be.. how the fuck did Jerry Falwell get millions of dollars to buy multi-million dollar insurance policies?

The answer, boys and girls, is that he asked people for the money.. and they gave it to him.. because they are crazy as fuck.

He said the ministries were surprised when an insurance company sought out his father when he was 70 years old to sell a policy to him with full knowledge of his health record. Falwell, who was 73 when he died, had a history of heart problems.

Falwell Jr. said his father had purchased between six and eight insurance policies through three or four insurance agencies. Falwell Jr. said later Friday he wasn't sure offhand of the names of the agencies.

A $21 million policy bought in 2003 cost the school about $1 million annually, Falwell Jr. said.

"A lot of people were surprised that we were even able to buy a policy like that at that age but looking back it was a good decision," he said. "He was the one that really wanted to buy these policies - I sort of stayed out of these meetings because you like to think your father will never die."

There's something really awful going on there. I wonder if the shareholders of the insurance companies know what happened. There's something sinister going on there..