"Spectacular error" sounds euphemistic compared to "devastating," "catastrophic," or "meltdown"--terms more commonly summoned to describe the credit crisis and ensuing global economic carnage. Whatever they are labeled, gross miscalculations on Wall Street are having a deleterious effect on college campuses across the country, with many…

The counterintuitive approach of the world's greatest value investor, Warren Buffett, may be the best hope for colleges and universities during this recession. Buffett's time-tested philosophy of seeking value and investing for the long term remains a sound approach, even if his short-term returns have declined along with those of the rest of the…