President Marx writes in the LA Times:

But if the state of the stock market is any indication, the era of hefty annual — or even positive — returns for college endowment funds is likely to be over, perhaps for quite some time. It’s a good thing that colleges have been allowed to tend to our resources as needed, not as Congress would demand. Because of that latitude, endowed colleges can now use that money to continue to offer generous financial aid packages for our nation’s best, brightest and neediest students, including those from middle-class families whose parents may have lost jobs recently or seen their nest eggs dwindle.

Nothing new here, aside from a stronger emphasis on the volatility of markets.  The real question is, why would Pres. Marx send his Op-Ed to the LA Times?  I guess The Republican’s circulation isn’t big enough for Tony.