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International sport has become big business and totally corporatised, with high-back leather chairs accompanying it, not to mention the massive endowments given to those at the top.
And what is driving the need for such increases when massive endowments continue to go untapped?
Powell asked: "What do you make of it all?" Everyone is struggling in higher ed, other than those with elite students and massive endowments.
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The recession seems to be making even Harvard University, with its massive endowment, reconsider its ambitious expansion plans.
It has a massive endowment - $36.4bn £23bnn) - and this is the engine of its wealth, underpinning an annual operating budget of $4.4bn £2.8bnn).
They parallel the massive royal endowments to temples of land and other resources, which resulted in their becoming very powerful economic and political institutions.
Greenwich Associates, a pension-fund adviser, says that typically "only the top 25 private-equity funds generate better returns than the S&P".An even gloomier picture is painted by one of the most successful investors in private-equity funds, David Swensen, who has been chief investment officer of the now massive Yale University endowment since 1985.
Harvard, with its massive brand and endowment, will most likely still be among the best, but it will matter less.
It is hard to make the case for a massive increase in private funding when university endowments are crashing throughout the world, imperilling basic research.
Harvard, whose endowment stands at a staggering $22.6 billion, had launched plans for a massive expansion.
The interplay of several factors such as basement architecture, inhomogeneous decratonization, crust-mantle interaction, mantle dynamics, magmatic characteristics, high heat flow and massive flux of deep-derived ore-forming fluids operated in generating the gold endowment.
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