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N.Y. Investment Firm Donates $100,000 to Georgetown After It Returns $600,000 Gift to Libya

February 26, 1981
See Original Daily Bulletin From This Date

A gift of $100,000 has been made to Georgetown University by a New York investment banking firm “for its courageous stance” in returning to the government of Libya a gift of $600,000 for its Arab Study Center.

Mal Cameron, associate director for public affairs, at Georgetown, said that an official of Bear, Stearns & Company, one of the nation’s largest investment banking concerns, informed Rev. Timothy Healy, president of Georgetown, that the $100,000 donation was being sent “because we were moved and impressed by the courageous decision” on the part of the university.

Alan Greenberg, the investment firm’s chief executive officer, said the firm’s executive committee also made the gift “because we wanted to show our respect for the principles and standards, uncompromising standards, that Georgetown evidenced by returning” the $600,000 to Libya because of Libya’s record in support of international terrorism.

The Bear, Stearns & Co. gift is specifically earmarked for use for undergroduate student aid and not for the Arab Study Center, Cameron said. She said Healy was gratified by the gift and had remarked that “This is the first time I have ever seen a gift before I saw the giver.”

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