Yale University is sitting on an endowment worth $25.6 billion. The state of Connecticut, on the other hand, is pretty broke. Now, Connecticut wants to tax Yale’s endowment. This could be more revolutionary than it sounds.

A study finds that a cheap, simple portfolio of three Vanguard index funds achieved better returns over five and ten years than almost all of the college endowments in America, which pay huge fees to hedge funds and elite money managers. Keep fuckin that chicken, smart people.

The 1%-vs-99% inequality dynamic that plagues America's economy as a whole extends to the world of higher education. And the richest universities in America had a great year last year.

Harvard's endowment grew 15.4% last year and now stands at $36.4 billion. Harvard remains very rich. If you give money to Harvard rather than to a better charity, you are an asshole.