Some wise words from University Diary, the lacerating blog by Margaret Soltan:
"UD gets that universities dread being tainted by the crooks they hire and promote. But with something this high-profile, you simply have to acknowledge it and regret it and all of that. Otherwise you leave people wondering why your school retained a highly praised and highly compensated Ponzi schemer in its school of business."
"Take a look at Yeshiva University – look at how well its doing with alumni giving and credit ratings and all of that in the wake of its decision to pretend that Bernard Madoff and Ezra Merkin had nothing to do with the school."