Nobel Foundation to cut prize money by 20 pct
You know, I'm having a damn hard time feeling sorry that the crappy global economy has had a negative net effect on the Nobel Foundation. The policies that they help shape and/or champion are having a direct effect on their own pocketbook for once, and the schadenfreude is positively delicious. The irony that the socialism they espouse has caused the collapse of economies around the world is thick; that they have to cut back on their prizes in order to continue their ROI just makes it that much sweeter.STOCKHOLM, Sweden – The Nobel Foundation has decided to reduce the prize money of each of the six Nobel awards by 20 percent this year to 8 million kronor ($1.1 million) to help safeguard its long-term capital prospects.The board of directors also said Monday it wants to ensure the potential for achieving a good inflation-adjusted return on the Nobel Foundation's capital during the next several years.
I'm sure that it has nothing to do with the effects on the global economy of the bumbling efforts of a certain past Nobel Prize winner, right?
That is all.
Another dispatch from...
(image courtesy of Robb Allen)