“Why should it be?” (link)Smoot understands what "students and faculty" do not: His job is not to save the planet from global warming or to mend race relations or to help abandoned puppies or to nurture spotted owls or to prevent litter from creeping into our oceans or to keep kids from eating Big Macs or to get women equal pay for equal work or to protect old-growth forests or to fund abortion factories or ...
His one and only job is to protect the foundation's assets and to grow the foundation's wealth. Good for him.
But there are those who are shocked - shocked - by the fact that certain of the foundation's investments are in hedge funds that have investments in ... corporate-owned prisons and that ... ignore the environment!
[Phoebe] Rounds, the spokesperson for UnFairallon, a coalition of activist students seeking to publicize [one particular hedge fund's] investments, explained that Yale students became suspicious of the company's investment in the Corrections Corporation of America, the largest prison company in America. CCA has been condemned by Amnesty International for human rights violations. UnFairallon has accused the hedge fund for investing in companies that do not adhere to environmental regulations.It's not known whether Phoebe has any of her own wealth tied up in environmental investments, or that she has ever even had a real job.
“I think a lot of people are looking the other way and that's why it's so important to step up and start investigating these investments,” she said.
As for Smoot, the whole topic is a non-issue:
When asked about the Virginia Tech Foundation's interest in social responsibility when investing with Farallon, Smoot explained that “whether any particular investment is ethically questionable is a matter of opinion.”"I'm not here to tickle your toenails. Live with it." I love this guy. I want Raymond Smoot watching over my money. The planet will have to take care of itself.
Smoot also explained that social responsibility is not considered when the Virginia Tech Foundation makes investments.