… Ezra Merkin, no one can be surprised that the school is in a ratings free fall. This blog has spent years detailing the damage that this school, with its conflict-of-interest-riddled trustees (a group that boasts such stellar characters as Ira Rennert and Zygi Wilf), and its greedy, morally clueless president, did to itself over the last ten years. You don’t get to brutalize a university the way this pack of rascals did (and some of the rascals are still there, rascaling around) without paying a very high price.

What’s a philosophy BA from Yeshiva, who is also the son of the university’s chancellor, up to lately?

He’s using malicious charges of anti-Semitism to further his criminal conspiracy.

[Shalom] Lamm cast himself and his project as victims of anti-Semitism even as he was in the process of conspiring to corrupt village elections. “If you’re a conspiracy theorist and you think the Jews control things and are pulling puppet strings, then this all looks like this grand conspiracy,” Lamm told the Forward in February of 2014. “It’s basic anti-Semitism. You would have to be a believer in the Protocols of the Elders of Zion to think that we could actually manipulate the world this way. It’s a complete absurdity.”

That very month, Lamm was working to get around opponents in the village government by enrolling ineligible voters to vote in village elections, according to the indictment filed against him in December. He and others created fake back-dated leases to make it seem as though the new voters lived in the village, and even put toothbrushes in their purported homes to make them seem occupied.

Next move: Anti-Semites in the court system forced him to plead guilty.

Yeshiva University benefactor Zygi Wilf is at it again.

An East Hampton property owner has been flagged for a penalty for injuring or removing trees on public property.

… A code enforcement officer responded [to a complaint] and directed the contractor “to cease all work on the village easement until he gets further direction and/or approval” from the village.

… Ira Rennert, once again reminds students at the Rennert Entrepreneurial Institute how it’s done.

Loot, loot, loot; and then when you’re caught, appeal, appeal, appeal.

Go to it, kids!

The guy writes an opinion piece in the school’s newspaper wondering about this – in particular, he wonders about Yeshiva’s … curious …board of trustees, recent haunt of Bernard Madoff and Ezra Merkin… Current haunt of the notorious Wilfs… And all-’round, COI-infested, $500 million-losing risk-taker…

You really think these big-money boys wanna talk to a pipsqueak like you? Bugsy Siegel maybe they’d talk to. Only he’s dead. You they won’t talk to.

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Update: The Forward takes note.

The American university that put Bernard Madoff on its board of trustees and made him (wait for it) treasurer has never – in the life of this blog, anyway – been out of the gutter news. Sex scandals, money scandals, an entire campus named after a convicted fraudster, a Moody’s rating so low as to be beyond belief…

I could go on. All of which means that this blog has never been able to lose sight of Yeshiva.

YU’s constant corruption is doubly interesting in the context of its pious self-image. It joins company with Baylor University and Liberty University as a national epicenter of religious hypocrisy.

Actually, YU is triply interesting — because of the pathos (it shares this with the other two schools I just mentioned) of there being many good and thoughtful and authentically spiritual people on campus. You can go to the campus newspaper and read their Job-like endless plaints.

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Okay, so one of the school’s longest-serving leaders resigned in 2013, and here’s the most positive appraisal I can find of him.

Now the guy’s son, once a member of the university’s Board of Directors, has been arrested for voting fraud and bribery. Yeshiva once again gets prominent ugly mentions in the national press.

… gets curiouser and curiouser. One of America’s most amoral and at the same time most morally self-righteous institutions now turns to the task of replacing as president a man who raked in millions in compensation while presiding over its financial ruination at the hands of corrupt trustees and other powerful campus figures, starting with Bernard Madoff and Ezra Merkin. Prominent Yeshiva buildings and programs bear the names of figures like Ira Rennert and Zygi Wilf. Several of the, er, friends of Merkin and Madoff remain in prominent positions on Yeshiva’s notoriously conflict-of-interest-ridden board.

Financially, the school is struggling like few other universities of its size and age in the country. Moody’s continues to rank its bonds as junk and recently determined that the school has a negative outlook. In the past five years, the school has been warned twice (in 2012 and again in 2014) by the Middle States Commission on Higher Education about the possible loss of its accreditation.

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Eight years into the university’s financial crisis, Y.U.’s financial problems give no sign of abating. Two years ago, the school lost $83 million. Last year it lost another $84 million. And six months ago Moody’s reported that it expects the school’s financial condition to continue to deteriorate.

Yeshiva leaders represent so much greed and mismanagement that according to Moody’s the school may have to fold. If it folds, this will be due not merely to gross irresponsibility, but – just as importantly – to the ick factor. The gulf between Yeshiva’s self-presentation as a pious institution and the squalid reality of its financial dealings and some of its backers has grown so wide, the school has so profoundly and insistently disgraced itself, that you just have to laugh. It has become a hopeless joke. A tragic joke if you happen to care about the survival of modern orthodoxy in America.

Given this background, UD understands why Yeshiva is thinking of appointing as president a managerially clueless but possibly actually religiously serious person.

Assuming it is trying to survive, Yeshiva is faced with two sort of impossible choices: It can appoint as president a powerful, brilliant, and maybe even honest money manager who might be able wrestle the corrupt board of trustees down and get the school on a roughly legitimate financial footing.

It seems to have chosen not to do this, which means the board continues on its merry institution-destroying way.

Yeshiva University has gone the other way – it has decided to work on its moral reputation. And, I mean, okay – it certainly needs to do this. But it will end up with a nice Queen Elizabeth on the throne and the same bad boys behind the throne.

There are no indications that [Ari] Berman has the experience or even the drive to radically alter how the school functions in order to move it out of the crisis it now finds itself in. While it might be nice in theory to have a president with a PhD in Jewish thought at the helm, the selection of an MBA might have actually guaranteed that the school would be able to matriculate future Jewish thinkers and leaders.

To make matters even nicer, the seemingly endemic corruption and parochialism of Yeshiva’s culture continues unabated with Berman.

Soon, the trustees now guiding the university, including Berman’s uncle, the influential communal leader Julius Berman, will vote on the nominating committee’s selection.

Julius Berman is Exhibit A for what UD is talking about in this post. Notoriously, Berman presided over a holocaust victim restitution fund that for sixteen years was massively embezzled.

[Isi] Leibler singled out Claims Conference Chairman Julius Berman and Executive Vice-President Greg Schneider for particular criticism in a recent Jerusalem Post opinion article. Leibler, a former World Jewish Congress official who lives in Israel, wrote that instead of launching an independent review following the fraud, the two men orchestrated a “Stalinist” board resolution that absolved the Claims Conference of all blame.

“Such contemptuous rejection of all managerial accountability in the wake of such a massive fraud would be inconceivable in any public company or government body where resignations or dismissals would have been mandatory,” Leibler argued.

See what I mean? You just have to laugh. Yeshiva University is irredeemable.

If the model of “the buck stops here” applies to this situation, then the buck stops not at the president’s office but at the board level. Yet I have not heard one board member state in effect, “I offer my resignation,” in order that Baylor might move forward from this with integrity and transparency. Instead, they tarnish the reputations and accomplishments of others and point the finger of blame in other directions while the truth lies buried beneath hidden agendas, cliques and power struggles. And they then cloak their language in theological piety, while their very actions suggest otherwise.

As it happens, he’s describing the board at Baylor.

In both cases, not only does no one resign. Everyone plays the theological piety bit to the absolute hilt. Only card they’ve got.

… and the man after whom the school’s Rennert Entrepreneurial Institute is named, once again shows YU students how to conduct themselves in business.

[T]he government said that Renco had lied when asked about the transaction to keep the pension insurer from finding out about the ownership change until too late. Once a controlled group has been broken, the pension agency loses its ability to go after the parent company’s assets.

And four months later, when R.G. Steel declared bankruptcy, the federal government had to take over the pension obligations and cover a $70 million loss. It sued Renco for fraud, arguing that the deal with Cerberus was a sham, intended primarily to break the link between R.G. Steel and Renco’s wealth.

Details on pensioners and their retirement income here.

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Sure, every once in awhile, just like Yeshiva trustee Zigi Wilf, you attract the attention of the courts. Big deal. Price of doing business.

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Now, REI grads, go out there and make some deals!

A president who drives your university into junk status and gives Bernard Madoff an honorary degree doesn’t come cheap.

… reveals the key to a successful business career: Spend your entire life in courtrooms. You’ll loot your businesses, of course; that’s how you make big money. And individuals, workers, the government, what have you, will sue you. They will sue you again and again.

And they will win, because after all you do seem to loot or defraud or whatever your businesses. And you’ll have to pay out hundreds of millions of dollars in fines and compensation.

But do not worry, because

1. you’ve got plenty of money left over after you pay out the judgements; and
2. you don’t give a shit about bad publicity.

That’s it, kiddies! The business philosophy of your benefactor. Inspirational.

Another day, another lawsuit.

Background here.

… Richard Joel steps down as president, leaving this junk bond status entity to … Well, what does University Diaries live for but to watch universities implode? Let’s see whether Zygi Wilf, for instance, transfers his attentions from running the Vikings to running Yeshiva, where he is already a trustee.

… just after one of its trustees, Bernard Madoff, hit the headlines. It’s from the University of New Hampshire.

The top of the page announces a Bias-Free Language Guide, while the rest of the page is blank. Eloquently, poignantly, totally blank. As blank as all the YU Madoff pages suddenly became.

Where’s the Guide?

What story lies behind this latest weird visual outcome?

No, don’t try clicking on Bias-Free Language Guide. Won’t take you anywhere. It’s been scrubbed.

Wha’ happened?

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We don’t know enough yet to figure out exactly how the thing got written – I mean, we need to know precisely what group of people (students? faculty?) wrote it – but it takes the Orwellian business of replacing short clear simple descriptive words with long pretentious empty euphemisms to new heights.

One section warns against the terms “older people, elders, seniors, senior citizens.” It suggests “people of advanced age” as preferable, though it notes that some have “reclaimed” the term “old people.” Other preferred terms include “person of material wealth” instead of rich, “person who lacks advantages that others have” instead of poor and “people of size” to replace the word overweight.

I think they fell down on that last one. It doesn’t have enough words. People of larger size than other people, no?

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When David Ortiz called Jacoby Ellsbury a rich bitch, he managed to squeeze out only two words. Person of material wealth bitch is so much… richer.

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Instant Update: Wow. In the few minutes during which I’ve been writing this post, UNH disappeared Bias-Free Language Guide and replaced it with Page Not Found. Quick work!

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And again.

Morris Talansky: Yet another glorious chapter in the history of the board of trustees whose members include Bernard Madoff, Ezra Merkin, and Zygi Wilf (Wilf remains a board member).

Embarrassing. But at least Yeshiva’s finances are in order.