As everyone knows, professors tend to have side projects that they fund, directly or indirectly, through their tenure. The law students end up paying for it.
I found myself chuckling uncontrollably while reading this story by Landon Thomas Jr. in the NY Times. In the middle of the semester, Duke Law Professor Mitu Gulati is busy helping Greece negotiate a nice reduction of its sovereign debt. Plus, he’s suggesting that all of the other countries should ask for a “haircut” too. Why not? I’m dialing my mortgage company right now.
“Instead of presenting an arcane paper on debt guarantees, Mr. Gulati titillated his audience by calling for other heavily indebted countries in Europe to carry out their own Greek-style swaps, albeit with smaller haircuts for creditors because the other nations are not as deeply indebted as Athens is.
Later on, Gulati jokes that he’s been told to keep these ideas on the Q.T. because if the word gets out, everyone might ask for a haircut.
So Duke Law Students, now’s your chance. If you’ve got more debt than you think you deserve, just call up the bursar’s office at Duke and tell them that Prof. Gulati sent you. He’s all in favor of sticking it to the man– although I’m not so sure how he’ll feel about you sticking it to an organization where he is the man.
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