How Harvard's Investing Superstars Crashed

On this blog, I had recently made light of Harvard's endowment losses, saying that, despite the big losses, they still had $30 Billion in the bank and were therefore still in pretty good shape compared to the rest of us.

However, according to this new article from Forbes, the Harvard University endowment, which was recently worth $37 Billion, is now in shambles, a victim of greed, aggressiveness, and incompetence.

Which begs the question: if Harvard is in the toilet like the rest of us, how smart can they be...and to what extent can they be trusted?

And here's another question that I always ask: what good are college endowments, if most colleges don't spend them during good times, by saying that they need to hold on to them for rainy days, but then also don't spend them during bad times, saying that their losses are too great??

One more question: where is the leadership in this country that is going to look at all of the financial mismanagement of the past ten years or more, and say "enough is enough"?