University Of California Deals With Wall Street Banks Could Wipe Out Prop 30 Gains, Report Says

Earlier this month, California voters passed Proposition 30, a ballot measure containing a number of tax increases that will help avoid drastic cuts to the state's higher education system.But according to a recent UC Berkeley report, all of those gains could be wiped out by a series of deals made by University of California administrators. Many of those officials, the report notes, have close ties to Wall Street firms making millions in profits from the state's cash-strapped institutions. Aaron Sankin, The Huffington Post, November 15, 2012