FALLWELL'S WINDFALL. Via the Chronicle news blog, Jerry Falwell was stocking up on life insurance policies worth about $34 million prior to his death. Most of the money was willed to Falwell's own Liberty University. In 1992, the university had more than $82 million in debt. Today, Chancellor Jerry Falwell Jr. (seriously!) said they want to pay off the university's remaining debt and work on an endowment. Gee, I guess that's one instance of Republicans being fiscally responsible.