Higher-education funds in California diverted from classroom

From The Los Angeles Times: While California universities have faced crippling budget cuts and protests against increased fees have flared on campuses, administrators have tapped funds meant for classrooms and students to cover some extraordinary costs: losses on ill-timed real estate deals, loans to high-ranking officials and an ambitious construction project. At UCLA, student fees are being used to save a plan to renovate Pauley Pavilion, home of the school's basketball team.