Endowed with generosity

“As if oblivious to the crisis gripping US universities’ endowment funds, victims of low interest rates, speculative investments and the current global recession, Batt O’Keefe is recommending that his new strategy group look towards encouraging endowments for Irish universities, asking them to seek out some more ‘Chuck Feeneys’. Certainly something for the longer term but in the current climate might be difficult to pull off and financially questionable in terms of revenue generation rather than funding for one-off projects. One could argue that a higher level of taxation for those on high incomes more in keeping with the European norm would greatly assist much of public services in this country, whether universities or the dilapidated school buildings into which our children are herded, but that’s a political decision …” (more)

[Summa cum Laude, 15 February]

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