4/16/09

Post Madoff and Merkin - Scandal Proof Conflict of Interest Policies for Yeshiva University Board of Trustees

We are not sure why it took so long but according to sources Yeshiva University has come up with new conflict of interest policies for its board of Trustees.

We wrote way back on December 19, 2008...

In light of the recent scandalous malfeasance by Yeshiva University Board Treasurer Bernard Madoff and by J. Ezra Merkin, head of the investment committee, and the resulting loss of $110 million of the University's endowment, we recommend these new policies for the Board of Trustees of Yeshiva University.

We believe adopting these policies is the only way to safeguard the Board from future scandals. Under these new guidelines, the university will be able -
(1) to decrease the length and frequency of board meetings,
(2) to eliminate complaints of bullying and intimidation by some members of the Board, and
(3) to absolutely guarantee that no Board member will disgrace the reputation of the university and its community or cause losses to its endowment.
Here is our proposed wording of the new guaranteed safe guidelines:
The University will continue to name to the Board of Trustees distinguished and wealthy leaders of the Jewish community. However all names placed in nomination and ultimate selection of Trustees will be limited to those individuals who fulfill these criteria:
(1) they have completed their substantial contributions to the University in cash, and...

(2) they are already deceased....


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