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June 7, 2015 10:00 am
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/jmP261Rm4ks/everyone-hates-harvard
Everyone Hates Harvard
theodp writes: Hedge fund manager John Paulson personally took home nearly $4 billion in 2007 after convincing banks to create securities of sub-prime mortgages he could bet against. Now Harvard, which originally passed on an opportunity to join alum Paulson in his big bet, is also reaping the rewards of the nation's financial crisis as it renames its engineering school the "Harvard John A. Paulson School of Engineering and Applied Sciences" after receiving a staggering $400 million donation from Paulson, the largest gift in the university's history. Quartz argues that Paulson's $400 million Harvard donation just reinforces inequality. Author Malcolm Gladwell took to Twitter to voice his distaste (sampling: 1. "It came down to helping the poor or giving the world's richest university $400 mil it doesn't need. Wise choice John!" 2. "If billionaires don't step up, Harvard will soon be down to its last $30 billion." 3. "It's going to be named the John Paulson School of Financial Engineering.") And, in Everyone Hates Harvard, Philip Greenspun notes that even WSJ readers reacted with vitriol to the news. "I would have thought that Paulson would be a hero to market-following WSJ readers," remarks Greenspun, "not a villain."Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/jmP261Rm4ks/everyone-hates-harvard
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