YU And President Joel

YU And President Joel

Your article surprisingly downplayed the scope of problems reported at YU
(“YU No-Confidence Vote Spurs Internal Battle,” March 20). You merely noted President Joel’s “lucrative” contract without mentioning
that he is among the highest paid university presidents in the United States, 
although heading a financially distressed institution that is firing faculty
and terminating programs.

You accepted whole-cloth the notion that YU’s
financial problems stem from its Madoff losses, ignoring journalist Stephen Weiss’
reporting that YU’s losses stemmed overwhelmingly from risky
investments made with YU endowment money, overseen by board
members whose firms profited from these investments. You did not mention
President Joel’s attempts to blame anybody and everybody but himself for YU’s
problems, including the breakdown in financial reporting and
oversight that occurred under his watch. President Joel is indeed a
visionary, always looking forward — because a backward look shows a long
trail of mismanagement.

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