Quote:
Originally Posted by Nell
There were quite a large number of saints in the "release of debt" meeting, We were told that WL was distraught over the failure of Daystar and the loss of the saints money. I remember one who had invested the money their parents had given them to pay for their college education. They could not sign the "release of debt" document and reportedly did recieve their money back. So there was some money to repay the saints who could not lose their investment. This begs the question, where did it come from? I have thought that if I were the one who took money from the saints and later I lost their money for whatever reason, I would repay them if it was the last thing I did on this earth.
If I had a successful publishing company, proceeds from that operation would go first to repaying the debt I owed the saints. Ironically, in that scenario, the saints who lost money in Daystar would be the same ones buying books from LSM...in effect, paying themselves back.
Because of the hype, failure was not an option. They certainly couldn't admit "we were wrong", so it was handy to blame the "oil crisis".
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They couldn't admit "we were wrong". At least never have publicly. Practices have been a type of Standard Operating Procedure of placing blame with someone else and not taking responsibility.
Regarding Daystar, conversations with my dad and also with another brother, they were refunded their investment of $400-$500 each. I'm sure there are those who invested substantially more and those who invested less.
With the release of debt, there were those who forgave the debt and as Nell indicated others who could not. It's been said training fees/donations was instituted to repay back the debt owed. During my time in the LC I had seen training fees/donation increase from $50 to $100. Not sure what it is now. I'm sure LSM/DCP must be working very diligently to ensure each one is reimbursed for their loss regardless what debt forgiveness document was coerced to sign.