CNN’s International anchor Julia Chatterley raging animus toward President Trump was clearly evident as she defended Harvard University receiving almost $9 million in stimulus money.
On CNN’s New Day, Trump Deranged host Alisyn Camerota played the part of ‘dumb blond’ asking Chatterley:
Hey Julia, what…what is this story with Harvard? You know, President Trump went after Harvard, basically claiming that they had sort of sucked up some of the funds that were supposed to be for small businesses. Harvard has refuted that. What’s the truth here?
Chatterley trashed as an “It’s a total fabrication. Facts first.” before needing to use wordplay to back up her and CNN’s typical repugnant Trump-Hate idiocy.
Trump Calls Out Harvard
While many small businesses, who were among the hardest hit in America by the coronavirus lockdown, are still awaiting for their stimulus lifeline. Harvard University with an endowment that’s worth nearly $41 billion, received an $8.6 million check.
During yesterday’s coronavirus press briefing, President Trump did little to hide the fact that he was livid upon hearing the news that Harvard received such a large stimulus payout and demanded the university return the money.
“Harvard is going to pay back the money and they shouldn’t be taking it, since they have one of the largest endowments in the country, maybe in the world.”
U.S. Treasury Secretary Steve Mnuchin also stated that the program had “very clear guidelines” on what companies were eligible for the stimulus funds.
The intent [of the program] was not for companies that have access to plenty of liquidity and other sources.
Shockingly, NOT Shockingly
In a statement issued moments after the briefing ended, however, Harvard said it planned to keep the funds and tried to deflect any criticism, while also placating liberal progressives by stating that they’ll use the $8.6 Billion:
“to direct 100% of the funds to financial assistance to students, and will not be using any of the funds to cover institutional costs.”
Julia Chatterley Word Game Defense Of Harvard
Julia Chatterley laughably screamed “Facts First” as she started trashing Trump’s criticism of Harvard University.
Julia Chatterley did admit that Harvard happens to be the richest college in the world. And that it has a $40 billion endowment.
But Chatterley claimed that President Trump was “completely wrong” and “making up facts as he went along” because the money that Harvard swindled didn’t come from the Stimulus package that was to help small businesses. Chatterley stated that the funds Harvard received were from a separate program.
Of course, as CNN often does she left out one very important detail that destroys their ‘Facts First” narrative. The name of the program, which was called the Education Relief Program.
Raise your hand if anyone thinks a University that has a 40 million dollar endowment needs “Relief“.
Julia Chatterley also defended Harvard by twisting what actually happened, or what was said.
Moments after President Trump ripped into them, Harvard university suddenly announced that ‘100% of the money will be used to help the poor people attending Harvard.” As if this magical Rainbow Pooping Unicorn actually exists.
But Chatterley defended Harvard by saying:
Two things. Harvard has said and perhaps we could question the timing. We don’t know. That all this money is going to go to their students that come from low- to moderate-income families. Forbes says that’s around 16% of their students.
Wait. So, while CNN who almost daily calls out everything President Trump says by immediately chalking up the timing of his statement to him having some devious ulterior motive.
But NOW after Harvard’s out of the blue announcement, CNN suddenly cries ‘perhaps we could question the timing.’
The second part of Chatterley’s defense claimed:
“Harvard’s endowment is there to make sure that this university, this college lasts forever. It’s not like a piggy bank, unfortunately, that you can raid.”
Besides not once did President Trump, or anyone else for that matter, call Harvard’s $40 million endowment a “Piggy Bank”
It seems Julia Chatterley should start doing her due diligence before spewing her idiocy.
The primary goal of a Harvard’s endowment is to protect the school’s educational and research programs. Similarly, a hospital’s endowment issued to treat patients and advance medical research or to upgrade medical equipment.
Every nonprofit which is what ‘University Endowments’ are, at some time, encounter a situation that is beyond its control that impacts their operations.
It might be a natural disaster, like an earthquake or fire, or it could be a financial collapse like in 2008, or as we are currently experiencing a pandemic.
Whenever these crisis arrives many Universities dip into their endowments which is often described as a rainy day fund to help pay for their expenses.
Hell, one could argue that these rainy day funds could also be called the University’s “Piggy Bank”.
Harvard’s Piggy Bank
In 2008 the president of Harvard University, Drew Gilpin Faust, defending her decision to sharply reduce expenditures following a 30 percent drop in the value of the school’s endowment.
Rather than drawing on Harvard’s still ample endowment to offset cuts to student services and research programs. Harvard President Faust instead dramatically began laying off University personnel while simultaneously cutting those same programs the endowment was meant to support.
Faust took these drastic austerity measures to preserve the endowment fund, which she treated as a rainy day fund which could be raided to pay off school debts if the 2008 financial crisis worsened
For a much more detailed explanation of how University fudge the use of their ‘Endowments’ read: Stanford Social Innovation Reviews: Endowment for a Rainy Day