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Outgoing Harvard President Drew Faust Joining Goldman Sachs

Outgoing Harvard President Drew Faust Joining Goldman Sachs

“will receive an annual grant of restricted stock units valued at $500,000”

Is there any greater insult to the campus left than this?

The Washington Examiner reports:

Outgoing Harvard president joins Goldman Sachs, academia outraged

Just days after ending her 11-year tenure as president of Harvard University, Drew Faust announced she’s making the jump from academia to Wall Street, sparking outrage from many fellow academics.

According to the Crimson, Faust has agreed to become an independent director member of the Board of Directors at Goldman Sachs, a leading global investment banking, securities, and investment management firm that has served as a punching bag for Democrats who are angry at Wall Street since the financial crisis of 2008.

Faust’s new position also carries a number of lucrative benefits. She will receive an annual grant of restricted stock units valued at $500,000 as well as a $75,000 annual retainer fee that can be paid in either cash or stock shares.

After her announcement, many fellow academics were outraged by her decision, which they perceive to be evidence of the cozy relationship between elite higher education and big business.

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Comments

I thought Faust did a good enough job as Harvard president, was something of a surprise. Yes, she’s a leftie. But she tried to steer toward the middle. Compared to that weasel Summers, she was a step in the right direction. Also, her scholarship, unlike that of that fraud, Warren, is mostly sound. But this?

Used to be back in the old days sitting on a few corporate boards was a good way to get some fast cash, and for doing mostly nothing. By fast cash I mean say $10K.

$500,000 to do what? What is her expertise? Plus $75K “salary.” Is this a job, or a no show job?

And Goldman Sachs wonders why it is despised. Crony capitalism at its worst–unless I’m missing something.

Matt Taibbi forever!

So, please, if that’s the case, someone, set me straight.

Oversoul Of Dusk | July 15, 2018 at 8:01 am

Where’s the picture she drew of Faust joining Goldman Sachs?

Jack Klompus | July 15, 2018 at 11:52 am

I took two US history classes with Prof. Faust at Penn. She’s an outstanding professor and a very pleasant and down to earth person who always had time to chat even with us lowly undergrads. I say good for her changing careers and making the lefties cry.

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