Historically black colleges and universities (HBCUs) have suffered disproportionately in the current financial crisis. The difficult situations at these institutions have many causes, but they stem in large part from the commitment of HBCUs to serving disadvantaged students and from the history of underfunding and discrimination that disadvantages HBCUs themselves. Tightening budgets and low enrollments have forced some HBCU leaders to take drastic steps to keep their institutions vibrant or in some cases afloat. This essay looks at how well some HBCU leaders have maintained respect for academic integrity and shared governance amid pressure to impose austerity on their institutions.