Posted on 04/22/2020 8:38:59 AM PDT by LibWhacker
WASHINGTON, April 21 (Reuters) - Harvard University said it plans to keep an $8.6 million grant it received as part of a stimulus package to blunt the economic impact of the coronavirus lockdown, contradicting U.S. President Donald Trump who pledged the university would return it.
Speaking at a press briefing on Tuesday, Trump pointed to the institution's ample endowment - worth nearly $41 billion - as the reason why it should hand over the money.
"Harvard is going to pay back the money and they shouldn't be taking it," Trump said, adding that Harvard has one of the largest endowments "in the country, maybe in the world."
In a statement issued moments after the briefing ended, however, Harvard said it planned "to direct 100% of the funds to financial assistance to students, and will not be using any of the funds to cover institutional costs."
Trump said late on Tuesday that Harvard's endowment system should be looked at.
"Harvard should give back the money now. Their whole "endowment" system should be looked at", the U.S. president said in a tweet, which did not give further details
(Excerpt) Read more at news.trust.org ...
They didnt req or recv any
Yes I agree with your point. My point is in the long run this is meaningless as we have debased our money to zero.
“vows”. What bullshit. I solemnly swear they will pay back the money
Harvard sure has taken a dive when it comes to decency, integrity and honor. What a crap institution it has become
Harvard alumnus Thomas Sowell knew that decades ago:
“What I most disliked about Harvard was that smug assumptions were too often treated as substitutes for evidence or logic. The idea seemed to be that if we bright and good fellows all believed something, it must be true.”
>>>WHO gave them this money?? What BANK??
If I recall correctly, all the checks going out have the same signature, Donald J Trump.
Devil in the details. I haven’t read the law, I’ll bet you haven’t either. Depending how it is worded, Harvard may have thought “legally” (letter of the law) that they could TAKE it.
They could be wrong (spirit of the law).
In either case, it “might” (likely) be up to the government to determine who is eligible and to determine sanctions/punitive damages for those violating the law.
Just because the gubmit is going to put out FAQs for clarification, doesn’t mean they “NEED” to. The law may be very clear. They probably never imagined anyone would so flagrantly abuse the law in this case.
Just my conjecture, I didn’t read the law, but I will venture to guess that Harvard WILL voluntarily (after being threatened with a BIG STICK), return the money, sooner rather than later. In ANY case, they WILL RETURN THE MONEY!
>>>Devil in the details. I haven’t read the law, I’ll bet you haven’t either. Depending how it is worded, Harvard may have thought “legally” (letter of the law) that they could TAKE it.
Like most colleges and universities, Harvard has been ALLOCATED funds as part of the CARES Act Higher Education Emergency Relief Fund.
That is a separate program from the PPP designed to help small businesses retain employees amid the pandemic.
I’m willing to bet that you didn’t give it a second thought when Obama was sending pallets of our tax dollars over to the Iranians.
>>>I’m willing to bet that you didn’t give it a second thought when Obama was sending pallets of our tax dollars over to the Iranians.
And you would lose the bet. I do recall the Repiblicans in Congress unanimously voting against Obama’s $800 billion pallets but warmly embracing Trump’s $2.7 trillion truckloads.
BTW, note tagline. President Trump could keep his salary, but, because of his profound sense of morality, he gives it to charity.
Trump has fewer billions than Harvard does.
Harvard capitulated and is giving back the money.
As an aside: All universities & churches should be taxed.
Harvard caves. Trump wins again. CNN deeply saddened.
” Harvard Won’t Take Stimulus Funds After White House Pressure “
https://www.wsj.com/articles/trump-administration-boosts-pressure-on-harvard-over-stimulus-funds-11587569354
Ha! Harvard knows when it’s dealing with its betters, and President Trump is TEN times better!
Harvard has a sense of entitlement...it did not go over well in this environment.
I do, they have a 41 billion endowment. That money was meant to go to people, business that are hurting. It was not stimulus money. I hope Trump guts the grants and research funds that go to Harvard. FU Harvard.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.