Word on the street has it that as a consequence of the damning new WASC report, the U.S. Department of Education has frozen the funds in the New College of California account. If our source is correct, this would enable DOE to assist students and faculty in transitioning out of the derelict institution.
Word also has it that the disgraced former New College president, Martin Hamilton, is attempting to get his hands on some of that dough prior to a declaration of bankruptcy by the trustees.
If the trustees of the school, in one of their final desperate acts, attempt to short students and faculty in order to cover golden parachutes for their pals, that would certainly put them back above the fold on page A-1 of the San Francisco Chronicle. Meanwhile, we can think of somewhere else we’d like to see these scoundrels.