you know more about the internal corruption of the place than I do.


UD thanks dmf for the link.


This blog’s Rutgers posts.

Trackback URL for this post:

3 Responses to “If you can read this and tell me why Robert Barchi is still president of Rutgers…”

  1. charlie Says:

    what’s amazing is that the article cites that rutgers claimed that a bank loan for several million dollars to keep their athletic department afloat was ‘other income.’ the school offers a bs in accounting, and it’s working on ph.d in creative accounting.

    but on second thought, i should do this. imagine how much better my financial status would be if i could claim my mortgage as income. my profile on that dating site would drastically improve….

  2. Greg Says:

    Charlie –

    According to theoretical physicists, the universe very well may be a cosmic free lunch:

    “{Guth] believes that the entire cosmos was created by quantum fluctuations from nothingness (which he argues is perfectly consistent with the Law of Conservation of Energy because its total energy value remains zero), and is quoted as saying that “the universe is the ultimate free lunch”

    And to serious economists, there can be an economic free lunch as long as there is room to move to more efficiency.

    But, in accounting as it is designed, it is impossible. As you point out, he proceeds of a loan are not income. Like a man falling from a building, who claims to fly, eventually these folks will get smacked by rising concrete. But, in so many realms these days, it seems to take forever for reality to obliterate the fake. Sadly it may smack innocent bystanders just as hard or harder.

  3. charlie Says:


    they believed they could fly
    they believed they could touch the sky

    but what they didn’t know
    was when they hit the floor

    their torso would go that away
    while their legs went the other way

Comment on this Entry

Latest UD posts at IHE