Reader Quote of the Day: “Harvard is to America what the Bastille was to France. Bring it down and make a bridge to freedom with the rubble.”
Thanks to reader OC Madam.
Harvard had a $36.9 billion endowment, the largest in academia. The endowment has imploded, and the university faces the worst financial crisis in its 373-year history.
Unemployment is at record levels and growing. The tsunami of commercial loan foreclosures still hasn’t begun. The “stimulus” money is sitting unspent in bank vaults across America. The national debt is spiraling out of control. Yet there is a ray of sunshine.
“Only a year ago,” Vanity Fair says in its latest issue, “Harvard had a $36.9 billion endowment, the largest in academia. Now that endowment has imploded, and the university faces the worst financial crisis in its 373-year history. Could the same lethal mix of uncurbed expansion, colossal debt, arrogance, and mismanagement that ravaged Wall Street bring down America’s most famous university?
One can only hope.
Source: Vanity Fair
