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Harvard’s latest bond sale brought the school’s outstanding debt to $6.5 billion dollars, a debt load comparable to that of the city of Chicago. Proceeds from the sale—which attracted a mix of investors including high net worth individuals, hedge funds, and insurance companies—will be used to fund a building project at the Law School and to refinance previously issued University debt...
...bankers from creating mortgage bonds filled with risky home loans and then passing those bonds off as safe investments to foreign investors. "Most of the blame for the financial crisis lies in the choices that were made inside the U.S.," says Anil Kashyap, an economics professor at University of Chicago's Booth School of Business...
...Goldman money in 2008 was New Jersey private school Rumson Country Day School. Also on the list are Choate Rosemary Hall, Lawrenceville and Spence. Top colleges got their share of Goldman largesse as well. Harvard, Stanford Graduate School of Business, the University of Pennsylvania and the University of Chicago all got over $150,000 in donations from Goldman employees. "Corporations have to be careful to avoid the appearance of special access in return for charitable giving," says Ferrell. "If the public sees that, it can hurt the company's image, not help...
Cambridge residents can be a sketchy crew, and James W. Lewis may be the sketchiest among them. In 1982, seven people died in the Chicago area because some Tylenol pills they took were laced with cyanide. (CYANIDE!) The case was never solved—and the $100,000 reward offered by Johnson & Johnson for finding the culprit was never claimed. At the time, Lewis became associated with the case because he wrote a letter demanding $1 million from Johnson & Johnson to stop the killings. He spent over a decade behind bars for this act of extortion, but he was never...
...University of Chicago experienced its own controversy when it sent prospective applicants a sample admissions essay last month. Unfortunately, the chosen piece was written by a particularly amorous applicant, who confessed to feeling full of “that gooey sap you feel late at night” whenever he thought of his dream alma mater. Some students thought it was clever, others found it apalling, and some wanted to cry because it made them think their own essays weren't original enough...