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“Yeshiva University had investments worth more than $100 million with Madoff but has not been sued.”

And why not? You’d think the reporter for the Jewish Chronicle would at least think to ask the question. Everyone else is getting clawback-sued, and they didn’t – like Yeshiva – have the Madoff/Merkin Partnership on their board of trustees.

Margaret Soltan, December 22, 2010 9:30AM
Posted in: the university

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3 Responses to ““Yeshiva University had investments worth more than $100 million with Madoff but has not been sued.””

  1. MattF Says:

    Don’t know, but it’s possible the trustee has decided that YU is, in fact, bankrupt– and so has no clawback-able assets.

  2. Margaret Soltan Says:

    Well, Yeshiva has done all it can to downplay the Madoff losses, and to defend its financial viability, so I don’t think Picard is likely to decide that.

    My guess would be that they’re in negotiations and that Yeshiva will in fact quietly hand Picard a lot of money.

    For instance, look at these paragraphs from a Jewish Forward article:

    A spokesman for Hadassah confirmed that the group had not been sued.

    A JTA report on December 6 cited Hadassah sources as saying the group had reached a tentative deal with Picard to return some of its Madoff earnings to the trustee. The Hadassah board is set to approve the deal on December 9.

    Yeshiva University, which had investments with Madoff worth a purported $110 million, also has not been sued. It is not known whether Y.U. withdrew more than it invested in its Madoff account. Communications officers at the university did not respond to two requests for comment.

    This is typical Yeshiva, of course – they never say anything. But note the way in which the point about Hadassah not having been sued because it’s in negotiations to give up money is directly followed by the point about Yeshiva.

  3. Mr Punch Says:

    It’s also possible, I suppose, that Yeshiva lost money with Madoff. A lot of investors did – that’s what the whole fuss is about.

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