Is this comment about Harvard true?

The image of Harvard is subverted in my mind when I watched the documentary The Inside Job. Now I read this comment somewhere on the web:

Harvard is one of most snobbish college that taking applicant’s parents social statusĀ  into consideration in admission process. Harvard has a lot of criminal politician/businessman’s kids.

Is it true that there is a seamy side under all the glamorous images?

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