On Campus

Magna cum lousy

Could the elite universities that got us into this economic mess be its next casualty?

Joe Weisenthal reviews the universities and business schools attended by the American bankers, politicians and regulators who got us into the current economic mess. He says:

While you may get a kick out of sneering at the people who went to elite schools, that’s not the point. The point is that these schools may have seen their glory days already, and enter a permanent state of decline. Why? Well for one thing, the money and power networks that supported these schools through generous contributions are crumbling. What’s more, you can no longer go to one of these schools and be assured that they’ll open the doors to the investment bank you thought you were going to get a job at. A big piece of that network has been lost.

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