Rav Dovid Yosef Shlita, Rav of Yerushalayim’s Har Nof neighborhood, warns of difficult times ahead for the Torah world in Eretz Yisrael, at least in the coming months.

He presented a scenario, asking rhetorically “what is the relationship between Lehman Brothers and an avreich in a kollel until last week”. He explained most would correctly respond “none” but since last week’s collapse of the fourth largest American investment bank, the avreichim and others will quickly learn this is not the case.

For Rav Yosef Shlita, trips to North America are perhaps no less common that trips to many locations in Eretz Yisrael, for fundraising for hundreds of avreichim is a major responsibility that he has accepted upon himself as head of the Yechavei Da’as institutions. This coming week, Rav Dovid Shlita has canceled a planned trip to North America, stating it would not be worth the cost of the ticket at present, deciding to travel to France instead, hoping to raise some funds as the situation in Eretz Yisrael begins worsening at a rapid pace.

The rav explains many of the “heavy donors” to Torah institutions in Eretz Yisrael are/were employed in the banking and brokerage institutes in North America, adding one does not need to explain this in further detail. He adds that other major donors are importers from the Far East, and today, chains like Wal-Mart in the United States are holding major orders, fearing too much unemployment and a growing recession will result in declined holiday spending in America until the end of the Gregorian year. There is also the issue of limited bank credit for businesses explained the rav, as well as fears from smaller banks who are freezing assets in an effort to prevent a mass withdrawal of funds.

This together with other contributory factors explains Rav Dovid paints a bleak and difficult picture for mosdos Torah in Eretz Yisrael.

(Yechiel Spira – YWN Israel)