This is open to debate. Some endowments are intended to be spent directly, and not everybody agrees that spending some fraction of the endowment curses the uni

This is open to debate. Some endowments are intended to be spent directly, and not everybody agrees that spending some fraction of the endowment curses the university to oblivion. Some financial policies can be suspended (they are not absolute, fixed rules). Many at Harvard felt the endowment was far larger than necessary for long-term viability, and wanted to spend money on capital improvements.