Alice in Wonderland

Punishment is supposed to fall on those who have been bad in some way. Bad in terms of illegal behavior: those are given their day in court. Bad in terms of inefficient: their costs balloon and they lose customers (30% if you're autos). Bad in terms of bad theory: their risk goes bad and they cause the Great Recession.

There has been help for all of these people. Criminals have trials and more or less expensive counsel. Bad managers, if they are big and bad enough, get billions of dollars printed just for them. Same for the bad financial theorists, whose $300, 000,000 annual salaries - ok, mostly between $3,000,000 and $30,000,000 a year - got a $12.8 trillion bailout by Bloomberg's count as of March 31.

Then there are the non-criminal, the competent organizations with stable and in fact growing markets, increasing productivity rates, and the activities that create human capital rather than serve as the financial lead ball that drags everything to the bottom of the sea.

The university was not bad, it was good. It did only small things wrong. It spend enormous quantities of time - hours, days, and weeks - checking itself. It had more applications every year, and took many students each year for free (the state didn't pay its share). It had good theories and made scientific progress and social development.

It appears therefore that it must be punished the most of all. It is the university that must get no help at all.