December 18, 2008
What College Trustees Could Learn From the Madoff Scandal
In the aftermath of the arrest of Bernard L. Madoff, the Wall Street broker who has been accused of defrauding universities, charities, and other investors of tens of billions of dollars, people are raising questions. They look at the great returns on investments that Mr. Madoff reported—gains of more than 10 percent in markets good or bad—and say such returns didn't make sense.
Experts on university-board governance are asking, Why can't people see scams like this coming,
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