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I'm also not aware of an effort to shut Harvard down. All I've heard are proposals to remove certain privileges it enjoys, some of which I think it should keep (tax exemption) and others it shouldn't (receiving public funds).
I haven't heard a single thing that sounds to me like an existential threat.
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I guess I find myself aligned with Matthew Hennessey. If it's worth saving, surely some money can come out of its own endowment fund for doing so?