How the geniuses running Harvard pissed away $1.8B in cash

Courtesy Digg - Business & Finance  Mon, 11/30/2009 - 00:30

The warnings fell on deaf ears, under Summers’s regime and beyond. And when the market crashed in the fall of 2008, Harvard would pay dearly, as $1.8 billion in cash simply vanished.

Indeed, it is still paying, in the form of tighter budgets, deferred expansion plans, and big interest payments on bonds issued to cover the losses.

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