Before they discriminated against Asians, they discriminated against Jews, Irish, Italians and other newly arrived immigrant groups.
Many of these elite univsersities were founded by W.A.S.P.'s, some of whome were slave traders. These instiutions strived to keep their blood as blue as it was when their ancestors first stepped off the Mayflower.
A Yankee is a W.A.S.P. without a trust fund.