IOW, Welch's appellate court nomination...
If you are completely stupefied at the Judicial Nominating Commission selecting Judge Welch as one of three options for the governor to appoint to the Indiana Appellate Court, then you don't understand the equation for net assets, the JNC's method for valuation, or you haven't counted some assets.
When I saw the nominees, all I could do was chuckle...
On and off...
For a few hours...
I wasn't surprised at all.
- assets - liabilities = net assets
- assets > liabilities = positive net assets
- liabilities > assets = negative net assets
- one person's liability is another's asset / the borrower is servant to the lender
- covering someone's liability owed to a third party, keeps the borrower a servant, but now to a new master