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Bank­ruptcy protection

AMY BORRUS, deputy director, Council of Institutional Investors, Washington

We are retirees who suffered a $15,000 loss due to Lehman Broth­ers Holdings Inc.’s seedling bank­ruptcy protection.


Our investment was rated A2 by Moody’s Investors Service and A by Standard & Poor’s two weeks before Lehman filed. We were confused, and we suspected timely, accurate information wasn’t supplied properly to us. After read-Your article, our opinion is that e was not adequately informed in his best years, he made v.


If we had more investigative arti­cles like yours that run counter to the government love feast, America would be in much better shape.

The methodology of the rating companies is flawed. How can a highly leveraged company such as an investment bank even get a rating? They are so heavily in debt that when they go broke, they go broke overnight.


The rating com­panies have lost our trust. Their opinions are slow and contami­nated, and when confronted with these issues, the raters hide behind the First Amendment.

Many Ridgewood, New Jersey, residents lost their jobs on Wall Street.


“He has my sympathy, but that’s still about 10 times the median income for a family of four. Roberts needs to buy a modest home in central Ver­mont and get a teaching certifi­cate or be ready to work in a hardware store.


As a 30-year veteran of the invest­ment industry, I’ve bemoaned the trend as endowments moved aggressively into alternatives.


I wit­nessed a similar rush into a differ­ent asset class during the dot-corn era. Both manias were driven by flawed advice. Growth-oriented managers’ performances looked

Good, but their portfolios had much greater embedded risk today; overexposure to alternatives could have devastating consequences for educational institutions, as was the case following the dot-com bubble. Caveat emptor.

lost their jobs on Wall Street

GREG WELCH, LS Investment Advisors, San Francisco

Here at Berea College, we are in a particularly difficult situation. It’s a no-tuition college that relies on its endowment for about 75 per­cent of its budget. Our endow­ment fell from about

CLIFF SOWELL, economics professor, Berea College, Berea, Kentucky

Having put two daughters through private schools, I’ve found that everything written about the arms race as schools vied for students rang true.


We saw tuition go up in leaps and bounds year after year. Despite everything, tuition went up again this year! By the time a lot of these kids get out of a private school, they don’t have the funds to continue to a graduate program CAMERON, Seattle

As risk consultants and partici­pants in foreign exchange deriva­tives trading, we’re astonished by the amount of leveraged struc­tures marketed as effective corpo­rate foreign exchange hedges and the unprecedented currency moves resulting from the unwind­ing of these instruments.


Your balanced, in-depth assessment highlights and humanizes the destructive impact of currency volatility on end-users.


Articles such as yours are instrumental in pointing out the need for greater responsibility, accountability and risk transparency in the over-the-counter currency derivative space.


As the parent of a student who just completed his first year at Univer­sity of Michigan—Ann Arbor and an 11th-grade child already looking at schools, your article hit close to home.


I can never understand how an organization that has survived 100 years can falter after one to two bad years.


Two things are missing from your story: the impact of distance and online education on the college marketplace and enrollment in voca­tional/technical schools. Both are poised to create substantial compe­tition for campus-based schools.


The challenge is how to make these “alter­native” schools more attractive, especially to the above-average, aca­demically inclined student. Prestige at these schools will never prevail.


But will affordability be enough to attract high-caliber students? This is a huge marketing challenge, to which the door has now opened.


May 16, 2014 at 3:06 pm Comments (0)