SOS Harvard

1. Harvard has the biggest endownment fund in the world.
2. Sadly in late 2008, it has invested about USD7.2 billion in commodities, and foreign equities, which later tanked in Oct to Dec 2008. Doing at 15.7% for the last 15 years. Then came the margin call and Harvard is fully invested!
3. Harvard has to raise USD2.0 billion IOUs at 6% while its investment is having a negative return.

MyView

Everyone thought that they are the brightest kid in town until they lose their pants. The moral here is "Greed", "Ego", "Pride" and "Stupidity"

With all combined, you will have a Harvard graduate. That is why, in the ancient time in China, morality is cultivated before a student are thought. Morality comes first, education comes second.