Theft from endowment fund

Sad story...I hope somebody like Andrew Cuomo goes after this guy. He’s hurt a lot of innocent people and he should do hard time in jail so he can recover his memory. I’m sure he’ll find it somewhere in there.

feudi pandola, at 8:25 am EDT on April 9, 2007

Amnesia is Serious!

The amnesia mentioned in the above article can be scary and should not be taken lightly. I know because of an aunt who had it. It is my sincere dream that he receives the treatment he needs and can be made whole again one day. Forgetting something like this must be terrible and all the other bits that go with it. God bless.

Joe, at 1:55 pm EDT on April 9, 2007

Really Serious?

One has to be rather gullible to believe the Professor’s claim of amnesia is true.

Skeptic, at 2:15 pm EDT on April 9, 2007

this is sad. no one takes better care of your money than yourself. rb

richard browne, at 2:35 pm EDT on April 9, 2007

Conned

Sounds like a typical con man. It seems religion affiliated investments have this happen more often than other investments. Shame on the the school’s trustees and investment committee. How could they possibly think it wise to place the majority of its investments with one person? It would not surprise me to learn, when they dig deeper, someone on the board or investment committee received special favors.Trust but verify! I can’t imagine any donors are going to feel well treated, either.

AJ, at 2:55 pm EDT on April 9, 2007

Too Good to be true

When it sounds too good to be true, it is too good to be true. Amnesia? Not when it came to providing his investors with cooked investment reports. If he doesn’t serve as much time as a simple carjacker then the judge and jury will have been fooled as well.

Lowell, at 3:00 pm EDT on April 9, 2007

It’s a southern thing like the lottery that was to be used to better the school system here. SC is 49th out of 50th place in the USA and Goodlowe still has a job. It will never change because the rich people’s kids go to private and the poor kids go to public school. South Carolina needs a leader to make the school system work for all kids. But, no just keep people like this guy stealing money and keep Goodlowe working to make SC 50th place.

Sean, at 3:10 pm EDT on April 9, 2007

College Professors

You do not have to be a smart economics professor: you just have to make the Endowment Committee think that you are!

Dick Jacobs, at 4:25 pm EDT on April 9, 2007

Looks like the only hope is for the hospital to cure him so that he can remember where the money is. They should get a nice reward for the cure. However, I bet the hospital will collect payment up front, less the treatment doesn’t work, and he can’t remember to pay his bill.

Eddie B., at 5:10 pm EDT on April 9, 2007

Investors are to blame

It’s very hard to raise VC and investment money. I know; I’ve spent two years doing it. What kills me is that investors fell all over themselves to put money behind nothing, while avoiding legitimate business investments. I don’t feel sorry for the people that lost money at all — that’s just lousy investing. They should’ve done their homework.

Mr. Jones, at 6:16 pm EDT on April 9, 2007

maybe the dog ate it..

AJ, at 8:41 pm EDT on April 9, 2007

how smart are our children?

With people like these in charge, are we surprized our children are comingup short?

Pat Spencer DUH I FORGOT! BUT I HAVE SOME SWAMP LANDFOR SELL DUH!

pat spencer, at 8:45 pm EDT on April 9, 2007

Steve Martin’s two words to get you out of anything.

How much do you want to bet that the econ/con prof is old enough to remember the Steve Martin routine from the 1970’s and put it to use here, specifically... “Two simple words. Two simple words in the English language: “I forgot!” How many times do we let ourselves get into terrible situations because we don’t say “I forgot"? Let’s say you’re on trial for armed robbery. You say to the judge, “I forgot armed robbery was illegal.”http://snltranscripts.jt.org/77/77imono.phtml

Old Enough to Know Better, at 5:25 am EDT on April 10, 2007

IF GOD DIDENT WANT US FLEECED ...HE WOULDENT HAVE MADE US SHEEP..

curt, at 5:11 pm EDT on April 10, 2007

Rest and calming relaxation should help!

He obviously is suffering enough already. He will remember, with time, and then we can ask where the money has been deposited. He needs rest and relaxation so his recovery is complete and he can get on with his duties as a teacher at the university.

There are great day/weekly spas in my area and wonderful resorts overseas that they should consider sending him to. He needs his space and quiet time to reflect on all of this and should not be stressed out 24/7! God bless.

Joe, Amnesia is Real, at 1:25 pm EDT on April 11, 2007

Insufficient Controls in Place

The University Board, and particularly the investment committee had an obligation to install controls on accounting and investments that would have prevented this disaster. It should not have been possible for this to happen, and wouldn’t have if the board and committee had done their job. Econo-conman himself should have been teaching that in his classes since it goes to basic economics. Also, it is not credible to believe amnesia would set in at the same time the money went missing. If you believe that, then I have an investment idea for you!

Silver Spork, at 5:50 pm EDT on May 8, 2007