[Marxism] Dartmouth’s Financial Piñata » CounterPunch: Tells the Facts, Names the Names

Louis Proyect lnp3 at panix.com
Tue May 27 14:04:41 MDT 2014


I merely work from the fact, acknowledged by the college, that as of 
last year 13.5% of Dartmouth’s $3.5 billion endowment (or $472.5 
million) is invested with firms controlled by current or past trustees 
or members of the college’s investment committee. If we assume as 
financial experts say we should that a 2% annual fee is charged on these 
funds, that means that nearly $10 million per year is going into the 
pockets of a handful of individuals associated with Dartmouth’s board of 
trustees. And that does not include any commissions on profits, which in 
the hedge fund industry amount to 20% of any gains. If this has been 
going on at this magnitude for the 15 years cited by Mr. Bruce in his 
letter, trustee-related firms have netted revenues from Dartmouth 
totaling well into nine figures. Yet, we are the ones who are 
“fortunate”?!! As the broadway song goes, being a Dartmouth trustee is 
“nice work if you can get it.”

full: http://www.counterpunch.org/2014/05/27/dartmouths-financial-pinata/



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