Here's an example from the rest of the world: San Diego law professor Gail Heriot. She begins:
"Like all endowed colleges and universities, [Brandeis has] taken it on the chin of late. But Brandeis has been hit harder than most, since Bernie Madoff has ... uh .... made off with the fortunes of several of its most loyal donors. In the judgment of its president, the best way to deal with the crisis is to sell off the museum's holdings, which are valued at more than $300 million and which include works by Roy Lichtenstein and Andy Warhol. The money from that sale will allow Brandeis to continue its core mission, which is education, not the collection of art. I'm not inclined to second guess him on that."
She then mentions the AAMD guidelines, and says:
"As Wood and Ricketts point out [in this piece], this position is a bit self-serving. 'The "public trust,"' they note, 'seems to coincide almost miraculously with the professional interests of museum curators, and art works can be traded, in effect, only for more art.' It's also a little odd. Is there any other asset of colleges and universities that must be treated this way? If I donate land to a college or university, does it have to be sold for other land?"
As an aside, she notes: "
