Harvard's Endowment has suffered a staggering eight billion dollar loss, or a loss of at least 22% in the last four months. That's the worst endowment drop for Harvard in 40 years, and dwarfs most comparable recent plunges in University endowments. Read on.

Given uniformly dolorous news in the financial sector, it's encouraging to see that the Stanford Provost and President have taken a 10% salary reduction, and each Stanford dean has pledged additional salary cuts, reports the Stanford Daily.