Endowment funds hurt
This was an interesting piece about how U of T has said they won't be funding any projects next year because of their investment losses.
"The funds, which were slated to generate $62-million in income next year to support research, student aid and faculty posts, have been hit like many other investments by the recent financial market freefall.
As a result, the "protective cushion" that was built up in good times is now gone, says a recent memo sent by the university's interim provost, Cheryl Misak."
I suspect this type of funding is going to be hurt everywhere...