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He wasn’t kidding
Posted by: Bryan Pick on Wednesday, September 05, 2007

Sometimes you read two things in quick succession and things just click.

Conan O'Brien, Commencement Speech to Harvard Class of 2000:
There is also sadness today, a feeling of loss that you're leaving Harvard forever. Well, let me assure you that you never really leave Harvard. The Harvard Fundraising Committee will be on your ass until the day you die. Right now, a member of the Alumni Association is at the Mt. Auburn Cemetery, shaking down the corpse of Henry Adams. They heard he had a brass toe ring, and they aims to get it.
Imagine: These people just raised 2.5 billion dollars, and they only got through the B's in the alumni directory. Here's how it works. Your phone rings, usually after a big meal, when you're tired and most vulnerable. A voice asks you for money. Knowing they just raised 2.5 billion dollars you ask, "What do you need it for?" Then there's a long pause and the voice on the other end of the line says, "We don't need it, we just want it." It's chilling.
Richard Vedder, Center for College Affordability and Productivity:
Harvard's endowment is now $34.9 billion, or close to $2 million for every student, including those at the graduate and professional schools. At the beginning of the fiscal year 2007, Harvard's endowment was $29.2 billion, and it spent somewhere around $1.1 billion in income from the endowment on financing programs during that fiscal year —about 4 percent of the beginning principal, and perhaps 3.5 percent of the average principal during the year. If Harvard had spent 5 percent of its endowment principal (as required of non-university foundations), and if it had devoted the added spending to reducing tuition, fees, and room and board charges, all such charges could have been eliminated for all students attending Harvard College.
And that's after this "minor setback". On second thought, maybe that's why they do need it.
 
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Previous Comments to this Post 

Comments
Harvard is obviously the extreme, but abundance (and lack of fiscal discipline) why I don’t give money to my alma mater, especially when they keep raising their price higher than the rate of inflation.

 
Written By: Grimshaw
URL: http://
And liberal academia rails against Big (Oil, Pharma, Tobacco, take yer pick)?

Maybe Big Education should have their books looked at...
 
Written By: shark
URL: http://
Yeah, isn’t it funny how much money Harvard has sitting there and yet... I have to wonder how much they’ve hiked tuition over the last 10 years.
 
Written By: Teresa
URL: http://technicalities.mu.nu
And liberal academia rails against Big (Oil, Pharma, Tobacco, take yer pick)?

Maybe Big Education should have their books looked at...
Yeah, but this is For The Children!
 
Written By: Crusader
URL: http://www.coalitionoftheswilling.net/
Big education, and the publishing houses. The prices for student textbooks is a blatant rip-off.
 
Written By: Mikey NTH
URL: http://
"Shark: And liberal academia rails against Big (Oil, Pharma, Tobacco, take yer pick)?
Maybe Big Education should have their books looked at... "

A few other places liberal/leftists don’t want to look at is the high prices/paychecks in: Hollywood, entertainment, law firms (trial, tort, etc)...

"Don’t piss down my back and tell me it’s raining".
 
Written By: Sharpshooter
URL: http://
That’s the way the left sees the free market. "They’re all robber barons ripping off the innocent, so since we live in a capitalist society, why don’t we do some of that?"
 
Written By: jows
URL: http://

 
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