… could go under. We need to know more about how much of its money was in Madoff’s hands.
The most recent tax filings for the university show that its endowment fund, a separate charity, was heavily invested in hedge funds and other nontraditional alternatives at the end of its fiscal year in 2006.
The school paper, the Yeshiva Commentator, recently reported that its endowment’s value had dropped to $1.4 billion from $1.8 billion — before the scandal broke.
UD has no sympathy — for Yeshiva or for any other American university that decided ‘nontraditional’ meant clever and profitable rather than stupid and risky. Yeshiva appoints Bernard Madoff treasurer of its board of trustees and expects sympathy when things don’t work out…
