Good day all. Once upon a time, Harvard University was considered the finest University in America. (Although Yale and Princeton would argue the point) They produced people who became captains of industry, lawyers, doctors and presidents. Then things started downhill.
I’m not sure exactly when it happened, probably in the 1980’s or 90’s, but Harvard went from rather liberal to outright socialist totalitarian. It’s only gotten worse in the last 10-20 years, with accusations of racism against whites and Asians, and over the last 18+ months, flat out Nazi-like levels Antisemitism.
Not much was done to stop Harvard’s antics. There were lawsuits on their racist actions that went against them, but they paid the money and kept right on going. However, what appears to have started breaking the camel’s back was the Hamas October 7th attack into Israel and the response by the Israeli government. At that point the covers came off and Harvard was accused of institutional Antisemitism and supporting the terrorist groups Hamas and Hezbollah.
This got Congress off it’s dead ass and they started raking the Harvard, (And other Ivy League schools), administrators and presidents over the coals, culminating with the discovery that Harvard’s DEI hire President, Claudine Gay plagiarized portions of her “Scholarly” research papers. Then came a number of donors to the school saying they were fed up with Harvard’s refusal to crack down on the Hamas supporters who were terrorizing Jewish students and cut off the money.
The next nail in their coffin was the landslide reelection of President Trump. His administration has started taking action against Harvard for their continuing support of terrorist activities. The administration has cut off all federal funding to the school and is now looking at revoking their tax exempt status. This has caused Harvard to panic over their budget and now they’re looking at taking out a substantial loan. Here are the details from the Epoch Times:
Harvard University is looking to borrow $750 million through taxable bonds as the Ivy League school’s federal funding is under review.
“As part of ongoing contingency planning for a range of financial circumstances, Harvard is evaluating the resources needed to advance its academic and research priorities,” a university spokesperson said on April 8 in an emailed statement responding to questions about the bond sale.
I find this very interesting. Harvard is sitting on endowments worth in excess of $50 Billion Dollars. Frankly, they could pay for the education of every student for the next hundred years. Why they aren’t tapping into that is my question.
Proceeds from the debt will be used to support Harvard’s capital projects and for general institutional purposes, according to S&P Global, which on April 7 assigned the bonds a top-tier AAA rating with a stable outlook.
Capitol projects? Such as what exactly? Buying up more real estate in the city of Cambridge? (Which Harvard does not pay property taxes on, causing major issues for the city financially)
The outlook, S&P noted, reflects expectations that Harvard will sustain strong demand and maintain balance-sheet strength relative to operating costs and debt over the next two years. The credit rating agency also cautioned that financial performance “could be strained” because of changes in federal funding while the university continues to cut expenses.
I think some investment companies need to pull their collectivist heads out of their asses. Enrollments in Harvard are starting to decrease. People are beginning to learn that a Harvard degree isn’t what it once was. One of the reasons is that businesses are starting to rethink hiring Harvard graduates. They’ve seen how these idiots have been acting over the last year or so. I know that several law firms have pulled offers to Harvard Law School graduates and canceled internships.
As for “Cutting expenses,” if they were actually serious about this, they would lay off at least half of their administrative staff, especially anything to do with Diversity, Equity and Inclusion. That’s part of the problem. Harvard, like 95% of all colleges in the United States, is so Woke and Anti-American that they are doubling down on stupid.
Despite its $53 billion endowment—the largest among colleges in the United States—Harvard relies heavily on federal funding, particularly for its extensive research operations. That dependence has come under new pressure after three federal agencies last week announced a sweeping review of $9 billion in multiyear research funding awarded to Harvard and its affiliated hospitals in the Boston area.
One of the things that is happening, and not just to Harvard, is a review of all these research grants. It’s turning out that far to many of them should never have been issued in the first place. The “Research,” is turning out to be nothing more than left wing political crap.
“If this funding is stopped, it will halt life-saving research and imperil important scientific research and innovation,” Harvard President Alan Garber said in a campus-wide message.
Somehow, I really doubt that. Besides, there are any number of other, less controversial research centers out there and could to as good, if not better job then Harvard. Now, as to why the money spigot is been put into the off position? The answer is simple. The Trump administration, unlike the Biden or Obama administrations, takes a dim view to racism, sexism or any other sort of discriminatory “ism” out there and has but colleges and universities such as Harvard on notice.
The administration listed a number of steps that Harvard needs to take before the money is released. Most of these, people in general agree with.
Among those steps are the elimination of diversity, equity, and inclusion programs, a ban on masks during protests, and reforms to admissions and hiring systems that prioritize merit-based criteria over race- or gender-based preferences.
The letter also urges the university to fully cooperate with federal agencies, including the Department of Homeland Security, and to pursue structural reforms and leadership changes to ensure long-term compliance. No formal deadline has been set, but the government has requested Harvard’s “immediate cooperation” in adopting the proposed changes.
Harvard’s response has been typically arrogant. That response? Basically it boils down to “Oh HELL NO!” The Trump administration, along with the Republicans in congress has come down to “Oh really? Really?
On top of the mounting threats to its federal funding, Harvard is once again confronting the prospect of a steeper federal endowment tax. In 2023, then-Sen. JD Vance (R-Ohio) introduced a bill proposing a 35 percent levy on university endowments exceeding $10 billion. With Republicans now in control of both Congress and the White House, that proposal—or one similar to it—could become a reality.
I would put a small deduction in there. Moneys spent from that endowment that goes to educating the students, such as tuition, housing, books, food and medical if needed would be deducted from the total. Recently, Harvard announced a program for students whose families earn under $200,000 dollars a year will be completely free.
I suspect they might be seeing the writing on the wall and realize that they might have gone just a bit to far. Now they’re trying to make themselves look better then they actually are. I will say that if they maintain high standards, and stop trolling in places for students who shouldn’t be in Harvard but will be accepted solely due to DEI, you will see a lot of very qualified applicants from all walks of life.
The sad fact is, unless there is a structural management change at Harvard, (And with most of the other “Centers of Higher Learning” too), Harvard University is going to continue down the path to complete irrelevancy and potential failure and collapse.
Personally, I’m fine if Harvard does fail in the next decade and ends up shutting down. We’re seeing a number of other colleges and universities that are just as bad as Harvard, but without their resources. They ended up driving away all of their future “Customers” and now they’re closing their doors. Personally, I wouldn’t buy any of these Harvard bonds, but that’s just me.
Thatisall
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