Endowment Controversy
During his tenure as President, $85 million, nearly one fifth of the Boston University endowment, was invested in a biotechnology company named Seragen. Investments continued, even after a rebuke from state regulators because of the risk involved. The bulk of the investment was lost when the Seragen stock collapsed.
Read more about this topic: John Silber
Famous quotes containing the words endowment and/or controversy:
“... it matters not what natural endowment a race may have if it prostitutes itself to the service of death.”
—Rebecca West (1892–1983)
“And therefore, as when there is a controversy in an account, the parties must by their own accord, set up for right Reason, the Reason of some Arbitrator, or Judge, to whose sentence, they will both stand, or their controversy must either come to blows, or be undecided, for want of a right Reason constituted by Nature; so is it also in all debates of what kind soever.”
—Thomas Hobbes (1579–1688)