I've been worried about the economic crisis, but since President Bollinger sent me a completely vague yet reassuring email yesterday, I'm feeling much better.

PrezBo first reminded students that "Columbia will be moving into this challenging environment from a position of strength after a period of impressive institutional development and improved management across our many schools, campuses, and administration. Thanks to the generous support of our alumni and friends, our fundraising campaign, which is one of the most ambitious in the country, continues to track ahead of schedule, with gifts and pledges totaling close to $3 billion of our $4 billion goal." Well that's a relief. Sounds like our endowment will still be greater than the Vatican's.

He then assured students that "Let me also make clear that we will not permit the economic downturn to affect Columbia's long-standing commitment to need-blind admissions and the meeting of full financial need in student aid for undergraduates in the College and the School of Engineering and Applied Sciences. We will also work to sustain, and when possible enhance, current levels of financial aid in other schools and programs."  Great! So the middle class will continue to get screwed, but everyone else will be okay. That whole Manhattanville thing is also still happening.

However, we do have to save money somewhere. PrezBo decided to go with a series of vague promises that seem like things the university should be doing anyway: "We have instituted a hiring review committee that will look carefully at every new or vacant position in the central administration before allowing it to be filled." Really, PrezBo? Your big money saving plan is to review positions before we hire people? And you really don't already do that? Really? I've always said that I hated Columbia bureaucracy, but this just takes it to a whole new level.

Finally, never missing a chance at political implications and self-promotion, PrezBo brought it back to the recent election, stressing that the president-elect is a Columbia alum: "One week ago, we elected an extraordinary new American President, the first Columbia graduate to hold the office, and we all feel enormous hope in what he and we can accomplish in the face of great challenges." Obama! Obama!