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UNLV facing bankruptcy

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02/16/2011

The university where Murray Rothbard and Hans Hoppe once taught is facing what the Las Vegas Review Journal describes as bankruptcy. UNLV president Neal Smatresk “said he believes the state’s higher education system will have to declare financial exigency, a declaration similar to bankruptcy, to deal with the cuts.”

A financial exigency declaration would allow the university to fire tenured faculty and break other contracts.

“Our state is nearing a state of fiscal collapse,” Smatresk said.

The Las Vegas Sun reports that the president’s message moved many of the faculty members to tears.

“I’m sick we are destroying much of what we’ve built,” said Cecilia Maldonado, an educational-leadership professor and chairwoman of the Senate.

The Sun reports that Maldonado read a list of grievances, each beginning with “I’m sick.”

She said she is sick of politicians caricaturing professors with “our fat salaries and easy living.”

She said she is sick that the public doesn’t seem to understand the importance of higher education.

Increasingly, taxpayers are getting sick of funding higher education.

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