Tuesday, January 06, 2026
Monday, December 11, 2023
Wealthy Donors and Universities
When wealthy donors oust university presidents over how they answer congressional questions
A frighteningly dangerous precedent
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[Rep. Elise Stefanik]
Friends,
America’s prestigious universities play a big role in determining who gets into America’s wealthy elite.
A degree from Harvard, Penn, or M.I.T., to take three examples, is a meal ticket to a lucrative job on Wall Street or a corporate law firm and to the richest and most influential people in the land.
But as America becomes increasingly stratified by wealth, those tickets are easily abused.
Universities that give preference in admissions to the children or grandchildren of major donors serve to widen inequality even further.
Universities that allow major donors to influence what is taught or expressed on campus could be seen to suppress ideas that threaten the wealthy — which could chill freedom of expression and fuel social resentment.
Which brings us to the latest imbroglio.
Last Tuesday, the presidents of the University of Pennsylvania, Harvard, and M.I.T. tried to give precise answers to questions from members of Congress about whether their university cultures had encouraged hostility towards Jews — hostility that has surged since Hamas’s October 7 attack on Israel and Israel’s attack on Gaza in response.
In their opening remarks, all three denied it, and repeatedly condemned antisemitism.
Then Elise Stefanik, a Republican representative from New York (and herself a Harvard graduate) asked a yes or no question: would calls for genocide of Jews on campus violate their codes of conduct or harassment policies?
The presidents hedged. “If the speech turns into conduct, yes, it can be harassment,” Penn’s president, M. Elizabeth Magill, a former dean of Stanford Law School, replied in lawyer-like fashion.
“I’m asking if specifically calling for the genocide of Jews — does that constitute bullying or harassment?” Stefanik pressed her point.
“If it is directed and severe or pervasive, it is harassment,” said Magill.
“So the answer is yes?”
“It is a context-dependent decision, congresswoman,” Magill said.
Faced with the same question, Harvard’s president, Claudine Gay, also temporized. “It can be,” she said, “depending on the context.”
The university presidents should have answered unambiguously and unequivocally that calls for genocide of any group are intolerable.
Their failure to do so has fueled a firestorm.
Ross Stevens, a hedge fund manager, said he would withdraw a $100 million gift to Penn. Other wealthy Penn donors called for Magill to resign.
Even prior to the hearing, a campaign had been launched by some of Wall Street’s most powerful figures to oust all three university presidents for failing to adequately condemn Hamas’s October 7 attack on Israel.
The influential board of advisers of Penn’s Wharton School’s, chaired by Marc Rowan of Apollo Global Management, one of the world’s largest private equity firms, called on alumni to withhold donations to Penn.
The billionaire investor Bill Ackman, Harvard alumnus and head of New York hedge fund Pershing Square Capital Management, called for the three university presidents to be fired.
The day after their testimony, Magill and Gay issued statements in efforts to contain the damage.
But on Saturday evening, after an emergency meeting of Penn’s board of trustees, Magill resigned under pressure.
Over the weekend, calls from donors for Harvard’s Claudine Gay to resign grew louder, as prominent donors demanded her ouster, too.
I can well understand the anger and frustration of these donors. In their congressional testimony, the university presidents should have been clearer that their institutions do not tolerate calls for genocide. Period.
But to use their power as major donors to force or seek the ouster of these presidents is almost as repugnant as the failures of these presidents to unambiguously condemn calls for genocide. It endangers the autonomy of America’s universities.
Who’s kidding whom? Those of us who have spent our lifetimes teaching in prestigious universities are well aware of the influence of big donors. The major job of today’s university presidents is to solicit money, and their largest targets are typically denizens of Wall Street.
For the same reason, boards of trustees are packed with wealthy alumni, often from the Street, who routinely veto candidates for university presidentships harboring views they find offensive.
But not until now have major donors so brazenly used their financial influence to hound presidents out of office for failing to come out as clearly as the donors would like on an issue of campus speech or expression.
As a Jew, I cannot help but worry, too, that the actions of these donors will fuel the very antisemitism they claim to oppose — based on the perilous stereotype of wealthy Jewish bankers controlling the world.
Saturday, April 01, 2023
The Need to Defend Public Education
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Tuesday, November 13, 2018
Politics is About Power
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Monday, February 13, 2012
What is happening in Greece: Financial Crisis ?
Financial Crisis, Markets and Democracy, Climate Justice: SI Council in Costa Rica
23-24 JANUARY 2012
Thursday, August 18, 2011
The President proposes more jobs - its about time
Monday, August 15, 2011
Why do the Koch brothers want to end public education?
See how the oligarchy subverts public schools.
Sunday, July 17, 2011
The Federal Deficit Crisis
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Tuesday, June 28, 2011
The Republicans won the California Budget battle today
Wednesday, May 25, 2011
Quiz Time- Republican corporate greed
A. A typical 65-year-old in CA would spend $6,057.09 more per year out of pocket for health care by 2022 because Medicare's promise would be replaced with underfunded vouchers. (The national average is a $6,359 increase.)
B. At least 2,008,796 CA residents would lose Medicaid health care (at least 15 million nationally).
C. $4.2 trillion in new tax cuts would be handed out mostly to corporations and the rich.
D. All of the above.
If you answered D, all of the above, you're right. This Tea Party-inspired budget would do all of those things.
All but four House Republicans voted for this radical proposal. The Senate will consider it this week. How many Senate Republicans will vote to give even more tax cuts to Wall Street and the wealthy and pay for them by cutting deeply into services for seniors, children and low- and middle-income working families?
Let's make sure every U.S. senator knows this "right-wing social engineering" bill--which is what former GOP House Speaker Newt Gingrich recently called Rep. Ryan's budget--is not a starting point for a debate over America's future.
Monday, May 23, 2011
Economic Balance of Power
Saturday, January 22, 2011
Senator Steinberg and the California Budget Crisis
Thursday, January 20, 2011
Possible tax vote in California
Prop.25 may actually help.
Monday, January 10, 2011
The End of the New Deal Liberalism- Greider
The End of New Deal Liberalism
Political events of the past two years have delivered a more profound and devastating message: American democracy has been conclusively conquered by American capitalism. Government has been disabled or captured by the formidable powers of private enterprise and concentrated wealth. Self-governing rights that representative democracy conferred on citizens are now usurped by the overbearing demands of corporate and financial interests. Collectively, the corporate sector has its arms around both political parties, the financing of political careers, the production of the policy agendas and propaganda of influential think tanks, and control of most major media.
What the capitalist system wants is more—more wealth, more freedom to do whatever it wishes. This has always been its instinct, unless government intervened to stop it. The objective now is to destroy any remaining forms of government interference, except of course for business subsidies and protections. Many elected representatives are implicitly enlisted in the cause.
Friday, November 19, 2010
What is next ? A progressive agenda. Richard Flacks
Sunday, October 10, 2010
Fact based and perspective challenges to Waiting for Superman
Friday, October 08, 2010
The California budget crisis
Tuesday, October 05, 2010
Bill Gates et al and Waiting for Superman
Thursday, September 23, 2010
The continuing economic crisis
Saturday, September 18, 2010
California Schools- not in compliance????
Funds | Estimated Number of Teaching Positions Created/Saved* | |
Alabama | $149.5 million | 2,250 |
California | $1.2 billion | 13,318 |
Colorado | $159.5 million | 2,393 |
Connecticut | $110.5 million | 1,251 |
Georgia | $322.3 million | 4,397 |
Illinois | $415.4 million | 5,118 |
Iowa | $96.5 million | 1,503 |
Kansas | $92.5 million | 1,572 |
Maine | $39 million | 614 |
Massachusetts | $204 million | 2,083 |
Nebraska | $58.9 million | 966 |
Nevada | $83.1 million | 1,184 |
New Mexico | $64.9 million | 1,077 |
New York | $607.6 million | 6,263 |
South Dakota | $26.3 million | 574 |
Tennessee | $195.9 million | 3,279 |
Wisconsin | $179.7 million | 2,329 |
The $10 billion education fund was created to support education jobs in the 2010–11 school year and will be distributed to states by a formula based on population figures. States can then distribute their funding to school districts using their funding formulas or districts' relative share of federal Title I funds.
Only Congress can rectify this issue by repealing this provision.






