Outgoing Harvard president joins Goldman Sachs, academia outraged

Goldman Sachs is arguably the most crony company in the US. And it pays well.

This is same Harvard president who made big deals with drug companies and other big companies while president. Harvard research could now be viewed as a subsidiary of Pharma.

(From The Washington Examiner)

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.

They perceive correctly.