“Harvard’s endowment tumbled 27.3 percent in its latest fiscal year, largely because of problems with its private equity and hedge fund portfolios, lopping off $10 billion and shrinking its portfolio to $26 billion. Taking into consideration donations and spending, the endowment shrank by nearly 30 percent.
Yale also suffered about a 30 percent loss in its endowment, to about $16 billion, the university’s president disclosed in a letter Thursday, adding that final figures on performance were still being compiled.
“We want to alert you to the fact that another round of reductions will be necessary,” Yale’s president, Richard C. Levin, wrote in what he called a budget update to the Yale community praising the cost-cutting that had already occurred.
A year earlier, Harvard’s endowment had approached $37 billion, while Yale’s endowment had been $23 billion.”
contin...
http://www.nytimes.com/2009/09/11/business/11harvard.html
Is this where their money is going? One wonders who they’re really working for...? Certainly not the students who must pay even more for their leftist education.
“In Ethiopia, a process of “villagisation” by the government is moving tens of thousands of people from traditional lands into new centres while big land deals are being struck with international companies.”
This is also our future.
The first thing Obama did when he got into office was “land grab” millions of acres for “conservation”.