Today’s highest-profile arrestee, Mark Nordlicht, even shares Madoff’s biography. Both had fathers who were financial crooks. Both were deeply involved with Yeshiva University, as were many of their associates. And of course both ran/allegedly ran virtually identical Ponzi schemes.
UD is certain that if the Lord had granted Nordlicht the length of time he granted Madoff, Nordlicht would, like Bernie, have been able to do fifty rather than a measly one billion dollars worth of business.
A brief review of the latest batch of YU-affiliated miscreants.
“We have to start to become embarrassed by this. There has to be a huge re-set in the Orthodox community.”
Start here: Your most public institution – Yeshiva University – is an increasingly criminalized location. Admit this and start cleaning it up. Remove Wilf’s name from the campus. Remove Rennert’s name from the campus. Strip of their degrees YU graduates who go to jail for massive financial crimes. And don’t strip quietly. Make a public statement repudiating them.
Find a president who doesn’t hide your affiliation with Bernard Madoff and Ezra Merkin, but who owns up to it and says that you’re now ashamed of it, and ashamed of the greed that made you decide to make those men campus heroes.
Admit that it’s time your university stopped making the news for all the wrong reasons. Admit that your hypocrisy – a pious Orthodox face hiding a cynical self-serving face – has done terrible damage to the school and has somehow got to end.
Subject all of your trustees to financial review by outsiders, with an eye toward conflict of interest and fraud. Then get rid of most of your trustees.
That’s what a huge re-set looks like. At least the beginning of one.