efficient market
The descendants proposed a $1 billion foundation and announced that they had raised $115,000 in seed money, an amount equivalent to the 1838 sales price for the 272 people Georgetown sold to pay off a debt. That amount is equivalent to about $3 million in today’s dollars.
“The foundation can only be a reality if we can establish a partnership with Georgetown University,” he said. “The foundation is our vision of an opportunity for us to have a partnership with Georgetown University that can take the history that we all now know about and turn it into a greater common good for Georgetown, the Jesuits, the Catholic Church, and humans overall.
He praised university leaders. “What Georgetown did was step out and away on an issue that has just dragged our whole country and society backward. They have stepped out in front and said, ‘We need to openly deal with this.’ I want to commend them for that. But we want to work with them on a greater vision that’s not dependent on the day-to-day educational mission of Georgetown, a separate foundation that we all have a role in. … We can take that, use it in a positive way to do much better for all of God’s wonderful humanity.”
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