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William & Mary is realizing the true cost of President Gene Nichol's Wren Cross decision this week: a donor revoked a $12 million pledge. Ouch.

Nichol is still blind to his responsibility though: "Ultimately it only hurts our students."

And he justifies it through integrity: "Diversity, including religious diversity, remains a core value of this institution," he wrote. "The core values of the college cannot be for sale."

The lesson: William & Mary will pay $12 million to banish the cross (except for Sundays), and $1800 to solicit revealing performances by sex workers. That is the price of diversity.