Welcome to the Counterparties email. The sign-up page is here, it’s just a matter of checking a box if you’re already registered on the Reuters website. Send suggestions, story tips and complaints to Counterparties.Reuters@gmail.com.
The donation will support 800 eponymous scholarships, and a new business professor. The office of financial aid, along with its director, will also be renamed in his honor. Harvard already employs need-blind admissions, and has made no indications that it is under any financial pressure to end that policy. 60% of its students receive financial aid.
Matt Yglesias thinks the fact the money will be spent on financial aid means that “in the scheme of misguided donations to Harvard this one seems not-so-awful... But really it's child's play to think of a better use of $150 million than to give it to the richest university on the planet”.
Griffin seems to have had his mind set on giving to Harvard. Griffin says he’s been talking to Harvard President Drew Faust, and her predecessor, Larry Summers, for 15 years about a gift, and that talking to Lloyd Blankfein pushed him towards financial aid. Giving to African universities apparently wasn’t considered.