Free Republic

Top Boston philanthropist Carl Shapiro is reportedly facing a criminal probe into his ties to Bernard Madoff, although experts say it’s not clear the 96-year-old Hub man will ever face charges. “When you hit 96, I think you get some immunity,” said Willis Riccio, former New England chief of the U.S. Securities and Exchange Commission. The Wall Street Journal reported yesterday that Shapiro is one of at least eight Madoff associates targeted by a probe into Madoff’s $65 billion Ponzi scheme. Others include Shapiro’s son-in-law Robert Jaffe - a part-time Weston resident who allegedly served as Madoff’s Hub salesman -...

Paced by Harvard University's staggering $34 billion stockpile, 76 colleges now boast endowments over $1 billion after robust returns on their investments over the past year, according to an annual study being released today. Harvard's endowment rose by nearly $6 billion over the past year, a nearly 20 percent increase. Yale University's endowment, the nation's second largest, rose to $22.5 billion, a 25 percent increase. Stanford University, Princeton University, and the University of Texas system rounded out the top five. Among colleges with endowments greater than $1 billion, the median one-year return was 21 percent. Nationally, the median return was...

<p>THE fact that it's hip to be poor will no doubt come as a surprise to everyone but the rich.</p> <p>The rich don't stay rich by blowing all their dough, you know. Only the worst sort of nouveau riche parvenus think expensive clothes, flashy dinners and white stretch-limo nightclub jaunts make them more important.</p>