>>And as an aside, the Harvard managers were/are so close to Wall Street that they undoubtedly knew some of what they were investing in was at least very risky, if not dubious in nature.
–Correct me if I’m wrong, but isn’t Harvard the biggest single source of lawmakers, federal regulators and . . . (drumroll) . . . finance capitalists?
Saying that Harvard is too close to Wall Street is like saying fish are too close to water.
Harvard isn’t too close to Wall Street.
Harvard is Wall Street.
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Here’s an article that discusses the interdependency between the two institutions. According to it, 41% of Harvard’s 2007 class of MBAs went straight to the Street.
http://tinyurl.com/harvard-grads-flood-wall-st
And speaking of fishies . . .
Do you know how a clownfish avoids getting stung by the tentacles of the anemones in which it frolics? If you understand that, you’ll understand the relationship between Harvard and Wall Street.