They affect the little people, the people that make the university run. The administration is the bread and butter of the university. Had all the senior staff taken a two percent cut it wouldn’t have been necessary to cut all these jobs for the people that aren’t making that much moneyâ€¦ Richard Joel makes half a million dollars a year. Why didn’t he take a pay cut?
Wall Street, “Greed, for lack of a better word, is NOT so good.” And you didn’t even have to go to a fancy Business School to learn that! Just ask 90 year old former retiree Ian Thiermann who had to abandon his retirement after losing his life savings of $750,000 to Madoff. Thiermann, who used to own a pest-control company in Los Angeles now works in a grocery store handing out fliers. Yup. That’s perspective for you.
Anyhow, you can see the full text of Yeshiva University President Richard Joel’s letter at the Jewish Star.
Hat Tip: Dani the lazy bastard who really should have written this post…
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