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...University argues that they are simply paying these managers “fair market value,” based upon the compensation reportedly earned by leading private hedge fund managers. But should the university’s endowment be treated like private fortunes or treated as a public trust? No one should accept the argument that it is necessary to pay anybody $25 million to $35 million per year as an incentive, or reward, for giving best efforts to Harvard, whether as a money manager, dean of students, professor of biology, cafeteria worker, security guard or anything else...
These fund manager payouts also send exactly the wrong signal to students who are deciding upon careers—and mark a dramatic symptom of unhealthy changes in American higher education since we went to college. When we entered Harvard in the fall of 1965, tuition was under $1800 annually, and room and board charges were only about $1000. Since then, adjusting for inflation, tuition has increased by 2.4 times, and room and board charges have roughly doubled. We don’t believe today’s students are getting an education twice as good. Despite recently increased financial...
Peter Renn, president of Lambda, the Law School’s student gay rights group, applauded Kagan’s move. “The swiftness of her response reflects the seriousness of the harm that was inflicted upon Harvard’s gay and lesbian students each day that the exception to the nondiscrimination policy was in place...
...because I'm unhappy or mad about the Congress. I've been here 32 years in the House and Senate, and I've enjoyed every single minute of it. Some minutes I've enjoyed more than other minutes. But I think that there is a danger that has come upon the system, where we are running a risk of not being in control of our own destiny as a Congress. There are so many outside forces that try to dictate to us what we do, when we do it, and how we'll do it. There are groups that...
...that has been inherited by the entire human race. It's a problem all over the world and in our own hearts. That's why the Gospel of Jesus Christ is the answer to sin, because when he died on the Cross, he took the sins of the world upon...