… Roger Williams…

All of these universities are models of insider dealing, their boards of trustees bursting with local merchants making money off of their position.

Of course, no one does it like Jersey.

From New York magazine:

… Ezra [Merkin] had served as chairman of Yeshiva’s investment committee since about 1994. Not long after that, the committee directed $14.5 million of Yeshiva’s endowment to Ascot, which Ezra passed along to Madoff, collecting his usual fee, initially one percent and later 1.5 percent, standard for all of Yeshiva’s money managers.

Yeshiva saw no conflict of interest or, if it did, didn’t mind. The university required nothing more than that those who served on the investment committee disclose that they were doing business with the university. The 2003 disclosure to the board, a copy of which was obtained by New York Magazine, reported that Ezra was managing about 10 percent of Yeshiva’s endowment through four different funds. For his efforts, he collected over $2 million in fees, almost $1 million for Ascot alone.

That 2003 memo stated that Madoff was Ascot’s “executing broker,” a term that means he was executing buy and sell orders, supposedly those dictated by Ascot. In fact, though Merkin looked at Madoff’s statements every month, and they were detailed and thorough, and questioned him about his accounts, he left the trading—or, as we now know, lack thereof—to Madoff.

Some now wonder about the propriety of the chairman of the investment committee’s taking fees for simply passing along money to Bernie—especially since Bernie was elected to Yeshiva’s board of trustees in 1996, when Hermann served as vice-chairman. Why not just give the money directly to Bernie and save Yeshiva the fee? To some, it seemed like Ezra was skimming profits, and from an institution he loved…

Yeshiva University: Dollar for dollar, more conflict of interest than all other American universities combined. And there’s absolutely no indication that it’s operating any differently now.

This university’s highly paid president maintained the financial criminal of the century and his victim supplier in positions of enormous campus power and influence. The school lost tens of millions of endowment funds to these men.

The president continues to oversee a board of trustees bursting with conflicts of interest. UD expects at least one more member of that board to be dragged into the Madoff debacle. Yet despite calls from outraged alumni to dissolve the board, the president has done nothing.

Now, finally, faced with the loss of its financial base and any integrity it might have had after being run into the ground by its beloved Madoff and Merkin, Yeshiva’s president acts. He fires sixty innocent people.

The guilty parties – the president and his board of trustees – remain in place.

*****************************

UD thanks Tzvee for the link.

And you can see why. He has presided over a university which appointed Bernard Madoff treasurer of its trustees and chair of the board of directors for its business school.

Don’t forget – it was only a few months ago that Madoff retained these positions at Yeshiva.

Harry Markopolos, in his testimony today, tells us the sort of person Yeshiva’s president maintained in these positions of responsibility.

Markopolos feared for his life while investigating Madoff. Why?

I don’t consider it paranoia. And the reason is, Mr. Madoff was running such a large scheme of unimaginable size and complexity, and he had a lot of dirty money. And let me describe dirty money to you. When you’re that big and you’re that secrective, you’re going to attract a lot of organized crime money, and which we now know came from the Russian mob and the Latin American drug cartel, and when you are zeroing out mobsters, you have a lot to fear. And he could not afford to get caught … And he would’ve known my name and knew he had a team tracking him, I didn’t think I was long for this world.

A blogger explains Richard Joel’s compensation:

Yeshiva University paid its president Richard Joel $698,495, plus the institution gave him an expense account of $84,869, according to the Chronicle for Higher Education, Facts and Figures, Executives’ Compensation at Private Institutions. That’s an $80,000 raise from his compensation package of the previous year. At that rate of increase it’s fair to assume that two years later, i.e., this year, 2008-9 his compensation is more than $940,000.

So – a million dollar a year salary… And how do you earn it? At a religious institution? By putting the fate of your campus in the hands of organized crime.

Strange incentive system.

The question is not Why is a violent woman running around the big city being violent? That’s not newsworthy. The question needs to be put to Hunter College: Why is one of these on your faculty?

Part of the answer lies in ye olde erotic attraction to radically chic violence that Leonard Bernstein made famous in that same city in the ‘seventies. Shellyne Rodriguez’s art, she tells an interviewer, “highlight[s] the audaciousness of the Biker Boys who take the streets undeterred by NYPD’s futile crackdown.” Makes elements of brainy artsy NY go pitapat.

This sort of thing also exists on some sort of urban mischief continuum with the non-revolutionary, white collar crime (undeterred by the SEC’s futile crackdown) that has always found representation on the boards of trustees of the sorts of schools that think Shellyne Rodriguez is cool. Recall the many high-level lawless money men/university trustees we’ve featured over decades on this blog, starting with Yeshiva University’s dynamic duo, Bernard Madoff and Ezra Merkin. At the very top of this mafia today are of course Trump/Giuliani (who hold far grander positions than mere trustee) and a whole world of superrich rapacious give-a-shit NY bad boys… UD‘s just saying that when a significant high-profile portion of the local culture is composed of high-risk-loving financial criminals (see Steven Cohen, Brown University etc. etc.) quite a few of them holding powerful positions on university boards of trustees, we shouldn’t be too surprised that this sort of world has room for other sorts of sociopaths. The school that hired Rodriguez features convicted insider trader and trustee Leon Cooperman.

These white/nonwhite criminal twains, trustee and professor, meet with a mutual thrill, a tacit sense of recognition, at a campus cocktail party, say, and if Rodriguez hadn’t attacked a man with a machete the other day, Cooperman would probably eventually have signed off on the tenure of Hunter’s own Jessica Krug. (‘Perhaps one of the most disgusting things [Krug] publicly did was to attempt to justify the brutal murder of 15-year-old Lesandro Guzman-Feliz, who died in a machete attack at the hands of gang members in a case of mistaken identity, by claiming that had he lived he would have ended up being a cop.‘) High-flying scofflaw cultures tend to have no trouble with nasty pieces of work like Rodriguez. Self-aggrandizing nihilist subversive meets self-aggrandizing nihilist subversive.

Yes, yes, post-machete, post-other forms of non white collar violence, Hunter has dropped Rodriguez like a hot potato.

Hunter happily goes on loving itself some bad boy Leon Cooperman, but then he’s not a poor artist. He’s a rich insider trader. He gets to keep his trusteeship.

So the question of how Hunter College found itself holding on to Rodriguez in the first place has two answers: Ever-popular radical violence, and the allied and fully mainstreamed “audaciousness” of NY white collar criminality.

The University of Southern California is colossally corrupt. It’s corrupt almost everywhere: In its athletics program (I’d name names, but there are too many); in its med school (Puliafito; Varma; Tyndall); in its admissions system (Varsity Blues); on its board of trustees (Barrack), and now in its school of social work. (Click on my first link for details on all of these instances.) It has succeeded in attaining Yeshiva University levels of corruption.

You have to pay close attention to understand the massive social work school corruption – here’s a good, detailed description of it – but know that the person allegedly engineering the scheme was the dean of the school, a woman desperately greedy for money after she apparently mismanaged the school to a huge deficit. She and the local politician she bribed in exchange for lucrative contracts are currently under federal indictment.

And here’s the real beauty of it, given USC’s perennial, and, most recently, one billion dollar, problem with sexual harassment: The dean arranged the quick hiring onto her faculty of the politician’s son – even got the entirely unqualified dude a professorship! – although the guy only needed a job because he was about to be charged with sexual harassment at his current job.

The politician is “a graduate of the university, from which he received a doctorate in social ethics,” and yes, you cannot make this shit up.

In honor of history’s biggest tax evader, Jesse Jones has renamed itself The Jesse James School!

As Fran Lebowitz notes, you earn a million; you steal a billion. And the honorable Robert Brockman has devoted his life to demonstrating the truth of that statement, hiding record-setting billions in Switzerland and other fabled havens. Sudden-onset dementia unfortunately gripped the man the moment the indictment came down, and now he’s apparently staggering around trying to find his ass with two hands. Forget finding the money. What money. Let the man die in dignity.

The 39-count indictment includes wire fraud, tax evasion, money laundering, and destruction of evidence, among other charges. These crimes make up a nearly 20-year plot to conceal income in offshore accounts.

He sat on lots of university boards, and while some, like the Baylor School of Medicine, seem to have gotten out in front of the story (speaking of which, lucky Centre College! The whole school might well have been renamed for the world’s biggest white collar criminal.), Jesse James still has his big-shot page up.

Brockman, known for being rather reclusive (wonder why), also gives big money to Ted Cruz and Rick Perry. His name is as prominently plastered on Rice campus buildings as the name Kapoor is at Binghamton, Wyly at Michigan, and Kozlowski and Brennan at Seton Hall.

The Brockman Hall for Opera stands next to the existing Alice Pratt Brown Hall, forming the Brockman Music and Performing Center. Additionally, in 2011, President David Leebron and Rice Board of Trustees Chair Jim Crownover thanked the A. Eugene Brockman Charitable Trust for its centennial gift at the unveiling of the Brockman Hall for Physics.

There’s a poignancy to all those music halls, because if Brockman’s co-conspirator hadn’t sung so loudly to the Justice Department he wouldn’t be going to jail.

Some world, huh? A notorious, spectacular, criminal cavorts about doing his thing for decades during which plenty of people squawk about him (just like they squawked about Yeshiva University treasurer Bernie Madoff!) but nothing happens except that he sits on high-profile university boards and has his name emblazoned for the ages on university buildings.

… nothing makes you happier than scandals involving religious universities, places that often wear their piety on a very self-righteous sleeve. Obviously it’s more fun when those places (rather than yucky secular schools like the University of Miami) turn out to be fraud-ridden hellholes run by sordid people of the cloth. Think back over our posts covering Yeshiva University, Baylor, Seton Hall, St. John’s, St. Louis, Southern Methodist…

Schools that have never hidden their trashy nature – Liberty, for instance – don’t make the list because they’re so overtly icky that they don’t even qualify for hypocritical. (Put the names of any of these schools in my search engine for wonderfully stomach-churning details.)

Wheeling Jesuit, or whatever the wreck is calling itself these days, has a real place of honor on the Gruesome Godly list, having for years been run by a dissolute cabal headed by jacked up jesuit AND HEAD OF THE ENTIRE WEST VIRGINIA CATHOLIC CHURCH Michael Bransfield. The details of his depravity – in the article I just linked to – are, even by church standards, pretty remarkable. But as I’ve endlessly pointed out, whether it’s Jewish Yeshiva or Catholic Wheeling, you don’t get there without large all-male incredibly parochial boards of trustees and boosters making the world safe for the very vilest among us.

Certain universities – Louisville, USC, Yeshiva, the University of Miami – have the smell of more or less criminal enterprises. They’re always generating high-level, multifaceted, scandal; some of their trustees are crooked or even criminal financiers. Yeshiva had Bernard Madoff as treasurer; Ezra Merkin also sat on their board. Also, I believe, Ira Rennert. The school continues to have as a trustee Zygmunt Wilf. These are not pretty people.

Now, Harvard and MIT were indeed buddies with Jeffrey Epstein; Harvard even celebrates as an emeritus professor Alan Dershowitz, at least an Epstein intimate, and at most (according to one of Epstein’s slaves) a secret sharer in the sex. Its erstwhile president, who helped run a hedge fund while president, hung out with Epstein too. (He also hung out with Andrei Shleifer…) But these schools are not the rackety dives those other schools are. They’re not just in it for the money. Nor are they just in it for the sports: The heavy campus hand of plutocrat college sports fans (the recently departed T. Boone Pickens at Oklahoma State; Phil Knight at Oregon) generates scandals, too – but these are the tired, expected scandals of the jock school.

No, MIT and Harvard are great schools, serious schools, productive schools – they are among the world’s greatest intellectual institutions. They fuck with plutocrats because of their professors’ smokin’ ambition to understand, to invent, to cure. They want money, money, and more money to fund their projects. To be sure, some of this generative creative activity makes some of their professors personally wealthy — the ex-head of MIT’s Media Lab took money from Epstein for his own investments, which adds to the embarrassment of it all… More commonly, professors monetize their medical and technical breakthroughs, producing all kinds of conflict of interest trouble at cutting edge places like Stanford…

We little people, looking in at all of this from the outside, are assured that COIs can be “managed” – the word is always managed – and we shouldn’t worry our pretty little heads. Yessir!

**************

Now look. Most people are pretty greedy; many putrid plutocrats realize that a university affiliation can clean them up real good. It’s a marriage made in heaven. But here’s what UD finds remarkable: MIT’s endowment is close to 17 billion; Harvard’s is close to forty billion. In ten years or so, Harvard’s wealth will be, say, a hundred billion. Harvard is a superplutocrat.

These schools are currently in trouble for promiscuous plutocrat fraternization; but given how INSANELY – not to say unconscionably – rich they are, why is this sort of thing happening at all? Just make an appointment with the “super-secret and dictatorial Harvard Corporation” and explain to them that you’d rather dip into the school’s billions and billions and billions than have to take research money from a guy in jail for sexually enslaving fifteen year olds. The worst they can say is no!

And while we’re at it – Why do superbillionaires like Harvard feel compelled to appoint rich turds like Epstein visiting fellows? We know that legacy parents can pay their kids’ way into Harvard; we know that rich parents can bribe coaches to get their kids into schools like Harvard and Yale. I’m not sure we knew that profit-oriented Harvard faculty can gift generous rich guys official appointments. Not a good look. Not a good look at all. But when Larry Summers spends his presidency running a hedge fund, losing $1.8 billion of Harvard’s endowment on market gambles, and defending a faculty crony who misused, for personal gain, government funds to Harvard, whadaya expect? That crony cost Harvard tens of millions in federal penalties, and it made not one bit of difference in terms of his high-profile position in Harvard’s economics department. That’s the way plutocracies work, kiddies. Plutocracies are even smart enough to know when their workings have become too public, which is why right after Larry Summers, Harvard appointed preachy anti-materialist Drew Faust (‘And while you’re at it, find me a woman, for crap sake!”) to maintain the non-profit theatrics.

Skeptical of the clean-up crew function of women when plutocrat sausage parties get out of hand? Read and learn. As FIFA went, so went Harvard – when things get truly desperate and you can’t hide what you’ve been doing any longer, Find A Woman, Pronto. You can always go right back to men when it all blows over.

***********

As ever, sing it.

[Before and after his conviction in 2008, Epstein was a regular on the masturbatory tech gadfly circuit — an attendee and sponsor of “billionaire dinners” and related sausage-factory soirees at which ultrawealthy men (among them the founders of Amazon and Google), elite scientists and various other male luminaries discussed the future they were collectively trying to build (or, depending on your perspective, squander.)]

***********

The party’s over

It’s time to find us a dame

Until we start up again

I’m going to miss our game

It’s time to wind up

The masquerade

There’s no more Epstein

To keep us paid…

When it comes to university presidents looting their schools, America lags well behind Greece, where the chancellor of Pandio University set the standard by leading (he was only found guilty of failing to note the illegal removal of ten million dollars of university funds, but he seems to have personally benefited from said removal) an extensive conspiracy of robber-administrators. The Greek state gave the school money; the school’s leadership took the money – that seems to have been the straightforward approach – and bought the stuff listed in this post’s headline.

Here in the States, the business of leaders draining millions and billions of university funds is more subtle, more complicated. President Lawrence Summers’ mad insane interest rate speculation cost Harvard one billion dollars but I mean … you know … he meant well. Yeshiva University’s trustees no doubt thought they were enriching the school as much as themselves by their extensive conflicts of interest coupled with avid investments in pieces of work like fellow trustee Bernie Madoff. In the event, they cost the school $1.3 billion.

Not that we don’t boast a few Greek-style university presidents. Karen Pletz, while president of Kansas City University of Medicine and Biosciences, allegedly paid for her Lexus convertible and a series of amazing foreign trips by the simple expedient of removing what these things cost from the university’s reserves and placing those sums in her private account.

*********

James Ramsey, now routinely described as the disgraced ex-president of the University of Louisville, stands somewhere between high-minded removalists like Summers and flat-out Ferrari larcenists. UL let him, over the years, grow to a big strapping tyrant with his fingers all over every money source available at this public institution in one of America’s poorest states.

I say let him, but as Pandio and other examples suggest, it takes a village to pillage. Ramsey surrounded himself with what one retired UL professor, reviewing the school’s sordid history, calls fellow pirates – people who took as much pleasure in pillaging as he, and who of course had no cause to expose his piratical deeds.

Dennis Menezes, who spent almost forty years at the U of Smell, takes a sentimental journey through some highlights:

Robert Felner, the former education who ended up doing jail time for misappropriating millions of dollars; Alisha Ward siphoning of hundreds of thousands of dollars from U of L’s Equine Industry Program; “Sweetheart contracts” at the College of Business, where administrators continued to receive their significantly higher salaries even after stepping down from their administrative positions, a practice rarely seen at other universities; the disappearance of hundreds of thousands of dollars stolen by Perry Chadwyck Vaughn at the School of Medicine…

At some point the leadership of a university gets so notoriously filthy that career criminals like Felner make a point of applying to work there, thus amplifying the pirate-load. I mean to say that when Menezes tries to puzzle out what makes a university a criminal enterprise, he fails to land on the obvious: Once your university is known to tolerate – nay, encourage – piracy, pirates from all over the world get on board.

The journey to just awful is smoothed by other campus assets, in particular — natch — sports. Let me suggest how this probably works at places like U of L, where, you recall, an entire sports dorm was transformed into a whorehouse for the use of recruits and their fathers. The pattern at sex-crime-crazed places like Penn State, Baylor, and Louisville is for the president to be invisible while the AD, the actual president of the school, does whatever the fuck he and his massive program like. At criminal enterprises like U of L, a president like Ramsey actively takes advantage, let’s say, of all the big scandalous sports noise in the foreground to quietly do his removalist thing.

More than that, enormous sports programs tend to bring quite a few truly scummy and twisted people to a campus and reward those people with enormous salaries and enormous respect (if they win games). Over time the powerful and often scummy sports contingent defines the ethos of the whole university, as in: Jerry Sandusky was EMERITUS PROFESSOR Sandusky at Penn State, I’ll have you know. UD attended a Knight Commission meeting in DC where a coach at a local university stood up and insisted that athletic staff at American universities should have professor status. “They’re educators as much as anyone else. It’s elitist to think otherwise.” So athletics, at many universities including Louisville, certainly does its bit to vulgarize and corrupt everyone, making it much easier for already sketchy people like Ramsey to assume they’re living in a sleaze-friendly world.

UD ain’t saying you must have a big sports program for endemic corruption, but it sure doesn’t hurt.

Anyway. This post is long enough. We’ll be following U of L as they try to decide whether it’s worth suing Ramsey and his pirate crew to get back some of the many millions they removed. We’ll also follow U of L’s difficult effort to find a new president. Would you want to preside over a school suing your predecessor for millions of dollars? Hell, the thing could even end up in criminal court.

… with the same extensive ties to Yeshiva University.

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.

…just as nasty billionaires, in a beautiful synergy, need the, uh, colonic properties of universities.

Bernie and his comrade in trade Ezra Merkin were madly generous, madly esteemed trustees of Yeshiva University. That pious institution made them look pure as the driven snow, preoccupied with things of the mind, things of the spirit; and Bernie and Ezra for obvious reasons valued this look highly.

Yeshiva continues to confer sweetness and light upon the likes of Ira Rennert and Zygi Wilf; and in this it resembles many other American universities, whose buildings and scholarships and professorships bear some seriously nasty names.

*******************

Here’s one. Much-esteemed University of Pennsylvania benefactor Howard Marks is an investor who writes judicious memos about how “markets make mistakes and the greatest market mistakes are driven by emotion – [like] too much greed…”

Marks himself owns but has never lived in a 22,000-square-foot Manhattan apartment which among many other things contains “30 rooms, six terraces, two dozen closets, two chefs kitchens, [and] two libraries.” It sits there on Park Avenue, completely empty, year after year. Like the California venture capitalist who got hold of a long-public beach only in order to post armed guards there to keep anyone from using it, Howard Marks has been driven by some emotion or other to dispense $52 million in order to spend years and years loudly, daily, breaking down the walls of two floors of dead space.

His downstairs neighbors have had enough and are suing. They point out that he’s been breaking building construction rules involving noise levels and hours of work per day for years, and ignoring their pleas that he stop. He has made their lives hell. Not only does he not give a shit; his lawyers are fighting the neighbors tooth and nail.

U Penn gets all excited and writes of Marks as if he’s a god because he gives a few hundred thousand to some of their writing programs, while their benefactor directs his real money to this twisted nihilistic project characterized by vacancy, aggression, and stunning waste.

Fraternities create drug distribution gangs; the Wharton School creates insider trader gangs. University athletic teams create rape-gangs and theft-gangs. At the very highest levels, your team of trustees creates international news.

Campuses are places where you connect with people like yourself – people who have similar strong interests and ambitions. Of course in most cases those ambitions aren’t criminal. But if they are, the isolated secret-brotherhood hothouse intensity of certain campus groups, the general public’s romanticization of college and graduate students as inquiring innocents, and the often rabid winner-take-all ideology of some of these associations (the athletes’ cafeteria at the University of Oregon has EAT YOUR ENEMIES in big illuminated letters on the wall), will make it temptingly easy to criminalize your association, if that’s what you’d like to do.

Not everyone on your wrestling team – to take the latest example, from the University of Minnesota – will want to take part in your Xanax distribution conspiracy. But the beauty of things like wrestling teams is that, once inducted into the brotherhood, it’s unlikely even non-participants will squeal.

My point is that when you’ve already got an organized team, you make much easier the transition to organized crime. There’s a lot of disorganized drug selling and buying at colleges, but it’s always going to be small time, and it’s going to be vulnerable to detection (see Wesleyan University). Fraternity drug rings only seem to get infiltrated after they’ve had a chance to grow enormously, as at San Diego State. The Minnesota gang seems to have had a chance to grow similarly huge — it handles spectacular quantities of Xanax.

*****************
UD thanks two readers
for telling her about
the Gophers and the Xanax.

With Fran Lebowitz’s words in mind (UD, you recall, interviewed Lebowitz not long ago), let us once again, very gingerly, sidle up to the Sketchy Benefactor problem — the problem with your university taking hundreds of millions of dollars from people who… eh… meh… bleh…

Take Michael Milken. Start with him because he’s local – I mean, local to ol’ UD, because he bought her university a very beautiful building which houses a very fine school of public health, which he also bought for us.

If there is a poster boy for the redemptive powers of philanthropy, it’s Michael Milken. In 1993 the former junk bond king of Drexel Burnham Lambert emerged from a minimum security federal prison after serving 22 months of a 10-year sentence for securities fraud. He seemed a new man — partly because he had abandoned his toupee — and this revised Milken took advantage of his freedom by dedicating himself to giving back. (His finances quickly recovered after he paid the $600 million in fines and restitution; his current net worth is estimated at more than $2 billion.) In the decades since, he has donated consistently and significantly: more than $60 million to teachers and $50 million to George Washington University’s school of public health. His Prostate Cancer Foundation has raised $210 million. There is plenty of evidence that these good works are sincere. Is it also useful? Well, when news of a new SEC investigation into whether Milken’s involvement with Guggenheim Partners had violated his lifetime ban from the securities industry, Milken’s official denial in Fortune magazine read like a recap of his past 20 years of giving.

So no problem with Milken’s name being all over the GW landscape because he paid his debt to society and though in a perfect world we might prefer not to be associated with someone who had to do that in the first place, okay. But what if, while no longer flagrantly stealing, he’s still a sketchy person who when cornered on alleged continued sketchiness points directly at my university and what he gave it in order to exonerate himself?

Yes, GW’s had to deal with sketchy performers and sketchy honorary degree recipients lately; but this is small-time one-off stuff compared to (switching universities here) putting Steven Cohen or Bernard Madoff on your board of trustees or plastering sketchy names all over your most prominent buildings.

I mean… Seton Hall!

Or, staying with Catholic schools here, there’s the lawsuit against Georgetown University for failing to put a donor’s name on a building he bought just because the donor was convicted of insider trading. A long lawsuit between the guy and the university ensued, and if you go to the campus today you can take in the Scott K. Ginsburg Sport & Fitness Center — although, curiously, when you click on the Google link to an article in a university publication titled GEORGETOWN LAW CELEBRATES THE SCOTT K. GINSBURG SPORT & FITNESS CENTER, the connection times out. UD‘s gonna guess they caved, they settled with the guy, they put his name on the building and grimaced through its christening, and then they removed from sight all online references to having celebrated any of this…

Anyway, it’s an old story. Lure of lucre. Lure of respectability. UD only brings it up because of the very strange ongoing latest Caspersen story. The sketchy Caspersen family has a long and important donor relationship with Harvard, and as the alleged actions of the father and now the son tarnish the name more and more, there’s the question of how much tarnishing-by-association Harvard will tolerate. It’s not merely that the Caspersen name is prominent on campus; it’s that in virtually every news article about Andrew Caspersen’s court dates and bail amounts Harvard prominently appears.

You might say Harvard’s too rich and prestigious to care. You might be right. But remember that Harvard is under constant pressure from the government and the media and even from within to account in some way for its immense accumulated wealth. Fighting an ongoing battle against releasing a nickel of its money (this cartoon is out of date; the endowment’s now worth way more than 35 billion) is not made easier by one story after another about sketchy rich people who have helped put Harvard way over the top. In the case of Caspersen’s father, for instance, if it turns out that he did in fact evade taxes on a large scale (this has not been proved; he was under investigation by the IRS at the time of his death), Americans might actually stop and ask themselves why they are both giving huge tax breaks to Harvard University and tolerating donors who are tax evaders. Is zat how Harvard got so rich that the fact of its richness has now become a national controversy? Through ripping us off via tax breaks and then ripping us off again via tax evasions?

Specially if he’s got a whole bunch of other good ol’ boys watching out for him. But whether he’s at Yeshiva University, where somehow somebody finally made the head honcho get the hell out, or the University of Louisville, where nobody’s managed it yet but they’re working on it, you’ve eventually got to find a way to give fulminatingly bad university presidents the heave-ho. If you don’t, the attention of the nation – and a legion of auditors – will eventually be so riveted to the institution that donors will stop donating and students will stop attending.

UD trusts that the governor plus some of the trustees will eventually be able to do the job at Louisville. But it will be bloody. UL’s president has anger issues.