That's the right thing to do. You don't get to just do that, sit in a $53 billion endowment and take federal funds. I would argue, for example, that many of these institutions... have become large hedge funds with small educational annexes. educational annexes. I mean, $53 billion is a lot of money. It doesn't cost $53 billion or even the interest on $53 billion to run the institution. (27:15–27:26)
CLAIM
Asserts that some educational institutions function more like hedge funds than educational entities.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.