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America’s richest university sues US government to keep taxpayer money coming



Okay – “the richest” university would be Harvard, in case anyone needed help with this low-level Jeopardy question. Harvard is terrified that the government might reduce or cut off their taxpayer funded welfare. That would be a threat to $2.2 billion immediately, and around $9 billion in total. See link below.

Harvard has an endowment of $53 billion. Endowments are kind of like an IRA. Special tax rules, and your bank account keeps growing, year after year. Harvard is richer than Rupert Murdoch and Melissa French Gates – combined. You’d be outraged if Rupert Murdoch was getting billion dollar checks from the US government, wouldn’t you?

Here’s Harvard’s specific complaint: they refuse appoint an independent advisor to help ensure their classes and course material are “diverse”. Diverse is in quotes because it’s Harvard’s SPECIFIC objection. Harvard is now apparently against DEI. Last year they were for it. I guess the wrong kind of diversity must be resisted at all costs. It could be an existential threat to a university.

This case, of course, is probably going to end up in the US Supreme Court. Where four of the Justices graduated from Harvard Law School: Ketanji Brown Jackson, Gorsuch, Elena Kagan, and Chief Justice Roberts. Another 4 justices graduated from Yale, Harvard’s historic rival. This case could be better than the annual Harvard-Yale football game. (Harvard usually wins that. A rivalry that's been happening since 1875 - 150 years).

Harvard’s attorneys and administrators have another complaint: “Government should not dictate what universities teach”. Yeah, tell that to the politicians who are screaming bloody murder about the impending death of the US Department of Education. The DOE's sole mission was to dictate public school curriculums.

Of course, the Trump administration has a different story: this is about the recent pro-Hamas/antisemitic protests on campus. Replete with vandalism, arson, interruption of classes, cancellation of exams, and intimidation of students suspected of being Jewish. Well, I can see how protecting the rights of a religious minority and ending violent protests would sound alarm bells to a college sitting on a $53 billion bank account.

This wouldn't be the first time Harvard was on the wrong side of history. Until the state of Massachusetts outlawed slavery in the 18th century, Harvard faculty and staff owned dozens of slaves.

I'm just sayin' . . .

First Thing: Harvard sues Trump administration over grants freeze

Harvard University endowment - Wikipedia
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exchrist · 31-35
Endowments is the equivalent of having a well insulated high interest savings account. Pulling funding from universities of any size is playing with fire. Djt got a rejection letter from Harvard when he applied? Went to penn State instead? Probably. Its an ongoing process any federal grants\funding are tied to compliance and resesech initiatives.
Cut federal funding expect lesser quality research and fewer more biased results.
Furthermore if these are "DEI" cuts. Would America prefer the worlds best talent go to foreign institutions?
Apparently Trumps administration does.
SusanInFlorida · 31-35, F
@exchrist

not at all corrrect. See link below. The endowment's asset allocation is 34% private equity, 33% hedge funds, 14% equities, 8% cash, 5% real estate, 4% fixed income/TIPS, and 1% each to natural resources and other real assets.

https://flybynightgraphics.com/articles/what-does-the-harvard-endowment-invest-in/1781

if harvard wants to hire professors from foreign nations, or enroll foreign students, let them use their own money.

taxpayer dollars - if given at all - should benefit US citizens. If some foreign professor wants harvard money, let them become a citizen.
exchrist · 31-35
@SusanInFlorida ill read up but im doing stuff atm. So what did Trump cut?i didnt see federal funds in there at all.