Tom Smith is impressed that Yale--earning roughly $141 per second, he calculates--is asking him for money.

I like getting the letters.  They fill me with a kind of awe.  They remind me that greatness comes to those who dare to ask for more than anyone can possibly think they deserve.  They fascinate me.  What can they possibly say to make me think I should send what $50, $100? to the people who are making 28% a year on $22.5 Billion?

Fay Vincent speculated in the Wall Street Journal recently on what some of the side-effects of the Ivies' huge endowments will be.