The YU student newspaper has released a scathing story about former board member and former investment committee chairman J. Ezra Merkin who lost $110 million of the University's endowment by investing it through his Ascot Fund with the now notorious Bernie Madoff.
The article distances YU from Merkin, by saying that nobody there ever liked him, that he was difficult to work with and that his actions on behalf of the school were sketchy at best. It goes on and on in most unflattering terms .... here.
Combine this with the negative page six business section Times story today about how Merkin trusted Madoff ("Firm That Trusted a Disgraced Investor") and you'd have to say it was not a good day for the fellow. He got quite a (well earned) spanking in the press.
Not to worry about this man. The Merkins like to be spanked.
[Hat tip to Henry.]