Yeshiva University has downgraded it exposure to Bernard Madoff-related losses, reporting that much of the reported $110 million was based on "fictitious" profits. The university now estimates its losses are closer to $14.5 million.
Two thoughts: $14.5 million is still a ton of money, and don't fake profits still count if the school based projects, salaries, and financial aid programs on what it thought it had?
Reader Comments Read all comments (3)
ai 8:41AM January 04, 2009
John McLeod 4:04PM January 02, 2009
of 3:40PM January 02, 2009