[Frantzie]

So they actually lost close to $1 billion? $497.6 million + $425 milion?

So to escape the $1.1 billion swap they paid $497.6 to make it go away and then $425 to unload the $764 million? I guess they could not just sell it it. I guess the swap is a contract that is there and you have to pay someone to take the bag of s**t off your hands.

Stinking liberals.

[dennisw]

$1.1 billion of interest-rate swaps intended to hedge variable-rate debt for capital projects

bag #1 of crap to make go away cost Harvard $497.6 million

it also agreed to pay $425 million over 30 to 40 years to offset an additional $764 million in swaps.

bag #2 of crap to make go away cost 425 million

Thus Harvard spends 925 million to make 1864 million in crap disappear

[dennisw]

Hmmmm.... you got it exactly right. My previous post was unnecessary