5 ms·

I don't think the institution will run out of money any time soon. It's a $50bn prop trading firm with a university attached.

by kleton 1y ago

sorcerer-mar 1y ago
https://www.forbes.com/sites/davidrosowsky/2020/06/01/why-not-use-those-large-endowments-to-save-colleges/ https://www.forbes.com/sites/davidrosowsky/2020/06/01/why-no...
- mgkimsal 1y ago
  "In fact, it is neither strategic for the university, nor respectful of the donors’ intent. It is neither financially responsible/prudent, nor is it permissible." Did the donors intend to have the entire university system ground down to the point where the ability to fund the donors' plans is completely gone? Donors funding programs to encourage research in to areas of science the Trump administration wants to outlaw... they should just ... sit on the money? Return the money to donors and say "sorry, 49% of voters decided that your family's wishes are illegal"? You want to fund weather research in to climate change, and set up a legacy endowment with your university. Research in to that is outlawed in 2027. What should the university do now, knowing this sort of thing is coming? The article was about covid. This is about an actual attack on the essence of what makes the universities attractive to donations in the first place.
  - sorcerer-mar 1y ago
    The point is that there's neither as much money nor as much flexibility as people imagine there to be. We shouldn't be flippant about these attacks because these institutions have what appear to be (but functionally are not really) giant war chests.
    - mgkimsal 1y ago
      I'm not flippant about it, and do not take the suggestion of using some endowment money for 'non-specified purposes' lightly. I don't think it should be completely off the table. The Trump administration has relied on people and companies responding to their aggression and violation of norms within the bounds of normalcy. None of this is normal. We are being gish galloped with attacks on all fronts of societal norms at once - threatening law firms, universities, students, immigrants. Attack the powerless and those with some power to protect those powerless at the same time.
      - sorcerer-mar 1y ago
        I don't think we disagree on any of this. I was taking issue with this framing: "I don't think the institution will run out of money any time soon. It's a $50bn prop trading firm with a university attached."
nkassis 1y ago
This is why they needed to be the one to fight, if they folded no one else had a chance to stop this government overreach.
- rofo1 1y ago
  I am not up to date on all details, but how exactly is it overreach? It's a good question whether government should give money (9bn but I could be wrong) for research, but lets put that aside for now. (who determines what "research" is this? it could be quantum mechanics, or it could be "gender studies") Curious as to why do you think this is an overreach.
  - mgkimsal 1y ago
    https://www.harvard.edu/research-funding/wp-content/uploads/sites/16/2025/04/Letter-Sent-to-Harvard-2025-04-11.pdf https://www.harvard.edu/research-funding/wp-content/uploads/... Did you read the demands? "By August 2025, the University must adopt and implement merit-based hiring policies, and cease all preferences based on race, color, religion, sex, or national origin throughout its hiring, promotion, compensation, and related practices among faculty, staff, and leadership. Such adoption and implementation must be durable and demonstrated through structural and personnel changes. All existing and prospective faculty shall be reviewed for plagiarism and Harvard’s plagiarism policy consistently enforced. All hiring and related data shall be shared with the federal government and subjected to a comprehensive audit by the federal government during the period in which reforms are being implemented, which shall be at least until the end of 2028." Trump administration is now the defacto HR department for Harvard, and eventually all universities.
    - JumpCrisscross 1y ago
      > cease all preferences based on race, color, religion, sex, or national origin But! Also! "The University shall commission an external party, which shall satisfy the federal government as to its competence and good faith, to audit the student body, faculty, staff, and leadership for viewpoint diversity, such that each department, field, or teaching unit must be individually viewpoint diverse."

I don't think the institution will run out of money any time soon. It's a $50bn prop trading firm with a university attached.

by kleton 1y ago

I don't think the institution will run out of money any time soon. It's a $50bn prop trading firm with a university attached.

sorcerer-mar 1y ago

https://www.forbes.com/sites/davidrosowsky/2020/06/01/why-not-use-those-large-endowments-to-save-colleges/ https://www.forbes.com/sites/davidrosowsky/2020/06/01/why-no...

mgkimsal 1y ago
"In fact, it is neither strategic for the university, nor respectful of the donors’ intent. It is neither financially responsible/prudent, nor is it permissible." Did the donors intend to have the entire university system ground down to the point where the ability to fund the donors' plans is completely gone? Donors funding programs to encourage research in to areas of science the Trump administration wants to outlaw... they should just ... sit on the money? Return the money to donors and say "sorry, 49% of voters decided that your family's wishes are illegal"? You want to fund weather research in to climate change, and set up a legacy endowment with your university. Research in to that is outlawed in 2027. What should the university do now, knowing this sort of thing is coming? The article was about covid. This is about an actual attack on the essence of what makes the universities attractive to donations in the first place.
- sorcerer-mar 1y ago
  The point is that there's neither as much money nor as much flexibility as people imagine there to be. We shouldn't be flippant about these attacks because these institutions have what appear to be (but functionally are not really) giant war chests.
  - mgkimsal 1y ago
    I'm not flippant about it, and do not take the suggestion of using some endowment money for 'non-specified purposes' lightly. I don't think it should be completely off the table. The Trump administration has relied on people and companies responding to their aggression and violation of norms within the bounds of normalcy. None of this is normal. We are being gish galloped with attacks on all fronts of societal norms at once - threatening law firms, universities, students, immigrants. Attack the powerless and those with some power to protect those powerless at the same time.
    - sorcerer-mar 1y ago
      I don't think we disagree on any of this. I was taking issue with this framing: "I don't think the institution will run out of money any time soon. It's a $50bn prop trading firm with a university attached."

nkassis 1y ago

This is why they needed to be the one to fight, if they folded no one else had a chance to stop this government overreach.

rofo1 1y ago
I am not up to date on all details, but how exactly is it overreach? It's a good question whether government should give money (9bn but I could be wrong) for research, but lets put that aside for now. (who determines what "research" is this? it could be quantum mechanics, or it could be "gender studies") Curious as to why do you think this is an overreach.
- mgkimsal 1y ago
  https://www.harvard.edu/research-funding/wp-content/uploads/sites/16/2025/04/Letter-Sent-to-Harvard-2025-04-11.pdf https://www.harvard.edu/research-funding/wp-content/uploads/... Did you read the demands? "By August 2025, the University must adopt and implement merit-based hiring policies, and cease all preferences based on race, color, religion, sex, or national origin throughout its hiring, promotion, compensation, and related practices among faculty, staff, and leadership. Such adoption and implementation must be durable and demonstrated through structural and personnel changes. All existing and prospective faculty shall be reviewed for plagiarism and Harvard’s plagiarism policy consistently enforced. All hiring and related data shall be shared with the federal government and subjected to a comprehensive audit by the federal government during the period in which reforms are being implemented, which shall be at least until the end of 2028." Trump administration is now the defacto HR department for Harvard, and eventually all universities.
  - JumpCrisscross 1y ago
    > cease all preferences based on race, color, religion, sex, or national origin But! Also! "The University shall commission an external party, which shall satisfy the federal government as to its competence and good faith, to audit the student body, faculty, staff, and leadership for viewpoint diversity, such that each department, field, or teaching unit must be individually viewpoint diverse."