Condensed News Report:
http://www.sfgate.com/default/article/Prop-30-funds-for-UC-will-go-to-Wall-Street-4031472.php
Full Report:
http://publicsociology.berkeley.edu/publications/swapping/swapping.pdf
"In other words, the UC Regents forgot the first rule of casino gambling: The house always wins. Now the rest of us are paying the price.
It's hard to overstate the cost to students and taxpayers of UC management's financial strategies. In recent years, the Regents have overseen a threefold increase in in-state tuition, declining in-state enrollment, reduced course offerings and draconian cuts imposed on UC workers. They also have continued to increase the number of university executives making more than $200,000 annually.
Even with the passage of Proposition 30, the regents warn of more cuts and tuition increases in the near future."
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