Yale's president announced that their endowment is down 25%. View a copy of his letter here.
While I still haven't heard about the losses of Yeshiva University in the Ponzi scheme, I have come across some humorous proposals for alternative punishment for Bernard Madoff, the man behind the scheme.
James Pethokoukis has nominated him to run another ponzi scheme, Social Security. (HT: Justin Fox)
And Tyrone, Tyler Cowen's alterego, has this to say:
What about that guy who set up the phony investment company? Can the Treasury make a new one of those, only bigger? He took money away from people and gave it to charities and the needy and the arts and higher education. That sounds like stimulus so why are we sending him to jail? Wasn't he ahead of the curve?
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