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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/ ________________________________________________ Send list submissions to: Marxism@lists.csbs.utah.edu Set your options at: http://lists.csbs.utah.edu/options/marxism/archive%40mail-archive.com
