Thank god for congressional subpoenas.

This is incredible.

Over the last decade, Yale’s endowment has more than tripled, to $22.5 billion. But, the University’s disclosure reveals, that gain came at a significant price: Last year, the fees it paid to external managers — investment specialists who run many of the funds in which Yale invests — amounted to more than four times what Yale spent on undergraduate financial aid, for example, according to News estimates.