Skip to comments.Harvardís Bet on Interest Rate Rise Cost $500 Million to Exit
Posted on 10/18/2009 10:03:47 AM PDT by the invisib1e hand
Verbotten. story here.
I hope they lose their ENTIRE endowment.
And IIRC, this trouble started under Larry Summers tutelage at Harvard.
The annual report provides new details on Harvards derivative-related losses. Many were entered into in 2004, said Harvard spokeswoman Christine Heenan. Lawrence Summers, director of President Barack Obamas National Economic Council, was the universitys president at the time. White House spokesman Matthew Vogel declined to comment.
What difference does it make? They’re just sitting on it anyway.
Summers is demonstrably economically illiterate and dangerous.
The best and brightest is really propaganda. They are the worst and the dumbest!
Only $500 million? They should lose billions - A bit of humility gained through extreme adversity now would actually help Harvard in the long-run.
What are they spending it on? For sure it isn’t going to keep tuition lower.
that’s series money...
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.
The best-connected is more like it.
The real good ones drop out.
Yep, shut the place down
The only Economics Harvard teaches is that of Communism and its derivatives.
A half-billion here, a half billion there, and soon you're talking about real money.
‘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.
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!
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,
membership has its privileges.
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.”