Harvard So Poor It Can’t Afford to Pick Up Its Evian Bottles

by Michael E van Landingham | July 13, 2009 at 1:30 pm

0908-HARVARDLost in the hullabaloo over the recent Vanity Fair profile on Sarah Palin and her subsequent, if unrelated, resignation was the magazine's article "Rich Harvard, Poor Harvard" by Nina Munk. The spread chronicles the massive expansion of Harvard's wealth, which grew from $4.8 billion in 1990 to $36.9 billion and the rapid pace Harvard opened new buildings. But since October the endowment has lost $8 billion dollars, with President Faust warning it could lose as much as $11 billion by the end of fiscal 2008. Now trash cans overflow, shuttles are fewer, and athletes have to suffer through continental breakfasts.

"Rich Harvard, Poor Harvard" is full of blind quotes pointing fingers at which administrator screwed which pooch. No matter who is responsible, though, one thing is clear:

"They are completely fucked."

To find out just how fucked Harvard is you have to buy the August edition of Vanity Fair. That is, unless you read our recap after the jump.

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