The previous blog post - “Why the 92ers?” - discussed the origin of the term “92ers” and its significance to the financial crisis.  The term’s origins lay in the fact 92% of Harvard undergraduates were on the Dean’s List.  The statistical impossibility of this was shown by the role Harvard alumni played in the financial crisis.

The term “92ers” traces its origin to the fact that at the time Harvard considered eliminating its Dean’s List, 92% of Harvard undergraduates were on the Dean’s List!  A Dean’s List is supposed to represent students who have gone above and beyond their peers, and thus merit some sort of special recognition.  How could a Dean’s List comprised of 92% of students represent students who have gone above and beyond their peers?