In New York there are a very high number of Jewish people that live there than most other places in the United States. Are they drawn to the community upbringing? Or are they more drawn to the Yeshiva Universities that are within close proximity of each other? What really matters boils down to funding for these universities. One day they are broke with over a $1 billion deficit the next a law passes that pulls them out! Hmmm, where is the corruption in that case?
It All Started with Investments
Back in 2002, most of the country had heard about Bernard Madoff and his Ponzi scheme. Initially, the school blamed bad investments that were associated with the Ponzi scheme for their large amount of debt. It was discovered that those investments really only accounted for a little bit of the debt incurred. At one point the university lost more than $500 million on high-risk investments dipping into hedge funds and corporate stocks.
Funding from Where?
Recently there was news on a rate increase across the state of New York for tuition on universities statewide. However, during the time this bill was getting passed, strangely there was funding made available to the Yeshiva University to help with the huge deficit they had encountered. Where did this funding come from? Why was tuition going up at every other college campus across the state, but Yeshiva was cut a huge break?
Over the years scandals in the Yeshiva University has ranged from sexual abuse to corruption. The Jewish community, no matter how hard they try, cannot let the turn their backs on the wrong doings going on. All the dishonesty and corruption lie within the risky investments that the college did. These risky investments, without the stockholders input, it what put them at this $1 Billion deficit to begin with. No matter how they try to blame the Ponzi scheme, it was their own scheme and it back fired.
Yeshiva investing in New York’s Future
The Orthodox way of the Jewish community that attend Yeshiva is one all in its own. Yeshiva concentrates on traditional religious texts to study. This means a couple of things to the tax payers of New York. First, you are paying higher taxes for all other colleges and universities in the state while students at Yeshiva are gaining ALL the benefits. Students at Yeshiva truly will not be contributing to the society of New York regarding their education. What they are being taught at Yeshiva is not math, science and history as you and I know it. They are being taught traditional religion that will not help them to prosper in this world.
What can be next at Yeshiva University? Well, first a little house cleaning by getting rid of all the chancellors, alumni that made the school such a scandal to begin with. Once you get out all the tainted rumors, bring in fresh people the enrollment may increase. Honestly, when you have such a tainted name like Yeshiva University you must do a facility overhaul to clear your name. Straighten out the investments and take the money that was signed into a bill for you and use it for the good of university.