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One casualty of the decline is the planned resignation of Marc Seidner from Harvard Management Co., the school's endowment, by the end of June as the head of the school's fixed-income investment. Stephen Blyth will temporarily take on Seidner's position until a new appointment is made. Blyth is the managing director of international fixed income for the endowment. Seidner had joined Harvard to become the domestic fixed-income vice president in 2006 from Standish Mellon Asset Management. According to a report in December from Harvard Magazine, Seidner was the second-highest-paid official at Harvard Management at $6.3 million. In addition to Seidner falling on his sword, to shore up its endowment The New York Times reported earlier in the year that Harvard put about 38% of its $1.5 billion private equity portfolio up for sale. - Gerald Magpily
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Even Harvard University couldn't weather the economic crisis. The Ivy League school, which boasts the country's largest endowment, reportedly has predicted it may take a 30% decline to around $25 billion by the end of this fiscal year, which ends in June. 
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You know the country is in a truly sad state economically when even the big giants begin to fall.