>> but there are great schools out there that avoid legacy preference and they're doing just fine. cal tech doesn't cater to alumnae kids and it has one of the largest endowments in the nation. even oxford and cambridge with their centuries of hallowed tradition refuse to favor alumnae children. >> their endowments are into the billions. america is the land of democracy but at least in college admissions the reverse is true. >> when you add up all of the admissions preferences at elite schools, like legacies, recruited athletes, and children of wealthy donors, you get an astounding number. at some schools it's around 50% of the class. >> that is the behavior that's