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Harvardís Bet on Interest Rate Rise Cost $500 Million to Exit
the B-word ^ | 101809 | the B-word

Posted on 10/18/2009 10:03:47 AM PDT by the invisib1e hand

Verbotten. story here.


TOPICS: Business/Economy; Crime/Corruption; Culture/Society
KEYWORDS: bravenewendowment; educationfunding; endowment; harvard; harvard4obama; highereducation; lielielie; lietome; noaccountability; summers; swaps; taxcheat; treasurycontrol; veritasmyeye
clearly not "the smartest guys in the room."
1 posted on 10/18/2009 10:03:47 AM PDT by the invisib1e hand
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To: the invisib1e hand

I hope they lose their ENTIRE endowment.


2 posted on 10/18/2009 10:04:23 AM PDT by Gaffer
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To: the invisib1e hand

http://www.freerepublic.com/focus/f-news/2365064/posts


3 posted on 10/18/2009 10:05:47 AM PDT by HangnJudge
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To: the invisib1e hand

And IIRC, this trouble started under Larry Summers tutelage at Harvard.


4 posted on 10/18/2009 10:06:14 AM PDT by SonOfDarkSkies (For good judgment ask...What would Obama do? Then do the opposite!)
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To: the invisib1e hand
of note:
The annual report provides new details on Harvard’s derivative-related losses. Many were entered into in 2004, said Harvard spokeswoman Christine Heenan. Lawrence Summers, director of President Barack Obama’s National Economic Council, was the university’s president at the time. White House spokesman Matthew Vogel declined to comment.

5 posted on 10/18/2009 10:06:57 AM PDT by the invisib1e hand (Fearing for the republic 24/7.)
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To: HangnJudge

thx.


6 posted on 10/18/2009 10:08:06 AM PDT by the invisib1e hand (Fearing for the republic 24/7.)
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To: Gaffer

What difference does it make? They’re just sitting on it anyway.


7 posted on 10/18/2009 10:12:51 AM PDT by DManA
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To: DManA
No, they were spending their leveraged gains, and making forward commitments to spend thereon.

Summers is demonstrably economically illiterate and dangerous.

8 posted on 10/18/2009 10:15:39 AM PDT by NativeNewYorker (Freepin' Jew Boy)
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To: the invisib1e hand

The best and brightest is really propaganda. They are the worst and the dumbest!


9 posted on 10/18/2009 10:16:01 AM PDT by WashingtonSource
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To: Gaffer

Only $500 million? They should lose billions - A bit of humility gained through extreme adversity now would actually help Harvard in the long-run.


10 posted on 10/18/2009 10:18:21 AM PDT by PGR88
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To: NativeNewYorker

What are they spending it on? For sure it isn’t going to keep tuition lower.


11 posted on 10/18/2009 10:22:37 AM PDT by DManA
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To: the invisib1e hand

that’s series money...


12 posted on 10/18/2009 10:26:40 AM PDT by bigbob
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To: DManA

They mark down the stated tuition for lots of folks, and no doubt “protected classes” get extra mark-downs. ‘vard also was undertaking a big edifice complex expansion.


13 posted on 10/18/2009 10:28:05 AM PDT by NativeNewYorker (Freepin' Jew Boy)
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To: WashingtonSource
The best and brightest is really propaganda. They are the worst and the dumbest!

The best-connected is more like it.

The real good ones drop out.

14 posted on 10/18/2009 10:33:52 AM PDT by the invisib1e hand (Fearing for the republic 24/7.)
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To: bigbob
that’s series money...

OK...

It's hugh.

15 posted on 10/18/2009 10:34:29 AM PDT by the invisib1e hand (Fearing for the republic 24/7.)
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To: Gaffer

Yep, shut the place down


16 posted on 10/18/2009 10:38:12 AM PDT by OregonTide
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To: the invisib1e hand

The only Economics Harvard teaches is that of Communism and its derivatives.


17 posted on 10/18/2009 10:39:42 AM PDT by Don Corleone ("Oil the gun..eat the cannolis. Take it to the Mattress.")
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To: the invisib1e hand
that’s series money...

OK...

It's hugh.

A half-billion here, a half billion there, and soon you're talking about real money.

18 posted on 10/18/2009 10:42:34 AM PDT by southernnorthcarolina (Now with ConstructionCam! Click on my name and follow the progress.)
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To: the invisib1e hand

‘clearly not “the smartest guys in the room.” ‘

My thoughts exactly. And this is where our fearless leaders come from? No wonder our economy is in the toilet.


19 posted on 10/18/2009 11:05:13 AM PDT by fujimoh
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To: DManA

It makes a buttload of difference! Were it for their endowments
they would be forced to accept people who could pay for their socialist
education. Gone would have been the likes of Obama and whatever
future Hitler that could have learned how to overthrow this country
for free. A whole lotta difference!


20 posted on 10/18/2009 11:25:17 AM PDT by Gaffer
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To: the invisib1e hand

A bunch of Ivy League professors in the breadline.

It would make it all worthwhile somehow.

Never happen though, they’ll be bailed out quicker’n sh*t through the proverbial goose,


21 posted on 10/18/2009 11:33:29 AM PDT by NaughtiusMaximus (To paraphrase the six year old balloon boy, "Excuse me while I puke.")
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To: NaughtiusMaximus

membership has its privileges.


22 posted on 10/18/2009 12:04:09 PM PDT by the invisib1e hand (Fearing for the republic 24/7.)
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To: NaughtiusMaximus

another cliche comes to mind; though I think the cliches of Wall Street lore are a bit more realistic: “money always returns to its rightful owners.”


23 posted on 10/18/2009 12:08:20 PM PDT by the invisib1e hand (Fearing for the republic 24/7.)
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