The Michigan Daily - michigandaily.com
Friday, January 15, 2010 -7
The Michigan Daily - michigandailycom Friday, January15, 2010 - 7
ALL CHARGED UP
The politics of a bailout:
Study reveals connections
netted banks more money
AARON AUGSBURGER/Daly
A concept version of the Chevrolet Volt was on display at the Ross School of Business yesterday. University community members
got to take a look at the Volt, an electric vehicle with an onboard electric generator and a range of 40 miles on pure battery power.
HAITI
From Page 1
2005, gives Haitian students a
chance to learn and study a typi-
cal American nursing curricu-
lum and includes training for
natural disasters, according to
Barnard.
"It'sthesamekind of curriculum
that you get at any leading school
here in the United States like the
University of Michigan," she said.
Barnard said Haiti's public
infrastructure has been in need
of reorganization and assistance,
especially because of its lack of
healthcare for most citizens. There
are only 10.7 nurses per 100,000
residents and 30 doctors per
100,000 people in the country, Ber-
nard wrote in a statement released
by the University.
"The hospitals are not well sup-
plied because they have no system
CANDIDATE
From Page 1
the ballot.
The 21-year-old Rabhi is by far
the youngest candidate for the
post, which is responsible for all
County services. All the other can-
didates range in age from late 30's
to early 60's.
Rabhi, who will run as a Demo-
crat, said his interest in the posi-
tion stems from years of political
involvement.
After his freshman year, Rabhi
started getting involved in local
political campaigns, including that
of family friend and Ann ArborCity
Councilmember Steve Kunselman
(D-Ward 3), who was elected to
city council last November. Rabhi
said his work on the campaign
centered around student outreach,
since Ward 3 has a large University
student population.
In the weeks leading up to last
August's primary, Rabhi went
door-to-door through student
neighborhoods promoting Kunsel-
man's campaign. He also distrib-
uted campaign literature and put
up yard signs.
On the day of the primary elec-
tion, Rabbi said he returned to
those same neighborhoods and
encouraged students to vote.
TRANS FATS
From Page 1
registered dieticians, food ser-
vice directors and marketing
F experts to research and plan the
logistics of a Health System-wide
ban.
The movement against partial-
ly hydrogenated fats stems from
overwhelming evidence that they
contribute directly to obesity by
increasing bad cholesterol and
reducing good cholesterol.
According to a University
Health System press release, obe-
sity now accounts for between
COLEMAN
From Page 1
tion on the issue, and Athletic
Director Bill Martin released a
statement affirming the Univer-
sity's dedication to following
NCAA standards.
"We continue to cooperate
with the NCAA on this matter,
which is why we reached out to
both the Big Ten and the NCAA as
soon as we heard the allegations,"
Martin wrote in the statement.
"We remain committed to follow-
ing both the letter and the intent
of the NCAA rules."
At the start of the investiga-
tion, Coleman released a state-
to pay for things and even for a
regular patient in a hospital, they
have to send their family to the
drugstore to buy the IV bag or the
needle," Bernard said.
Many of those who survived the
quake are left without food and
water, surrounded by a scene of
ruined buildings mixed with dead
bodies.
The international Red Cross
estimated 45,000 to 50,000 dead
and recovery teams have resorted
to using bulldozers to transport
bodies. Brazilian U.N. peacekeep-
ers are trying to organize mass
burials.
Because of the crumbled roads
and damaged seaport, internation-
al aid to the survivors of the quake
has been minimal. According to
estimates by the Red Cross, one
third of Haiti's nine million people
are in need of aid.
President Barack Obama
announced that the United States
would start with $100 million
in aid, "one of the largest relief
efforts in our recent history." This
weekend 2,000 Marines are set
to join the 100 paratroopers that
landed in Haiti yesterday to pro-
vide aid, the U.S. Southern Com-
mand reported.
Obama appointed former presi-
dents George W. Bush and Bill
Clinton to lead the fundraising
effort for relief to the devastated
country.
Haitian President Rene Pre-
val is working from the airport to
remain in control of the situation,
according to President Leonel Fer-
nandez of the neighboringDomin-
ican Republic. The National Palace
and other government buildings
were destroyed in the earthquake,
interfering with national leader-
ship.
-The Associated Press
contributed to this report.
TARP funds
positively correlated
with political ties,
research'shows
By CASSANDRA PAGNI
For the Daily
In a recent study University
researchers found that banks with
connections to the federal govern-
ment tended to receive more fed-
eral bailout money than those that
did not.
Business Profs. Ran Duchin and
Denis Sosyura - the authors of the
study that has yet to be published
- relied on databases from the Fed-
eral Deposit Insurance Corporation
and the Federal Reserve to access
detailedinformationaboutthebanks
that received bailout money. Duchin
said the numbers revealed that banks
with ties to the government often
received more moneynthanthosethat
are politicallyindependent.
"Our study is able to show that
there is a positive correlation
between political connections of
different types, be it connections
to the Federal Reserve, connec-
SPANISH
From Page 1
Upper-level Spanish classes
are particularly popular because
many students take Spanish in high
school and test into the higher lev-
els once they get to the University,
Hannoosh wrote.
Assistant Spanish Prof. Daniel
Noemi, who is teaching a class that
had a waitlist of over 20 people as
of Tuesday, said another problem is
that there aren't enough classes for
the large number of Spanish con-
centrators.
He said this causes many stu-
dents to question why the 25-stu-
dent class size cannot be increased,
but he fears that larger classes
would be less productive for stu-
dents.
"The problem would be that the
classes wouldn't be very good," he
said.
Noemi added that though adding
tions to House members, or simply
being politically active in terms of
spending money on lobbying the
treasury or contributing to politi-
cal campaigns," and getting more
bailout funds, Duchin said.
Duchin said the study showed a
direct relationship between poli-
tics and public policy.
"It is a very interesting area of
investigation to see how, in general,
politics affects public policy, alloca-
tion of funds and markets," he said.
The researchers looked at about
700 financial institutions, consid-
ering individual histories, organi-
zational size, demographics and
quarterly reports. In particular,
they examined the relationship
between banks that received aid
from the Troubled Asset ReliefPro-
gram (TARP), the amount received
and their political associations.
DuchinsaidheandSosyurafound
that the original goal of the TARP -
to give monetary aid to financially
unsoundbanks-wasviolatedwhen
politics became involved.
"The fact that political con-
nections actually played a role in
TARP investments implies that it
is not necessarily the (financially
unsound) banks that should have
gotten the money that actually
more professors would be "ideal,"
it is not possible with the current
state of the economy.
While the packed waitlists of300-
and 400-level Spanish classes on
Wolverine Access clearly dominate
over the somewhat empty lists of
French and other language classes,
Noemi said he is content to deal with
the current enrollment system.
Noemi added that addressing the
problem would require a campus-
wide change to facilitate all depart-
ments with high student demand.
"I think that the department
does quite a good job," he said. "In
terms of in the end, everybody can
get into a class."
But LSA sophomore Sarah Hal-
linen said she disagrees.
Hallinen said she was put on the
waitlist for Spanish 368 and 410,
adding that she has noticed more
competition for Spanish classes this
semester than in previous semesters.
"It is extremely frustrating
for the large number of students
ended up getting the money," Duch-
insaid."There is evidence of a misal-
location of funds that is inconsistent
with the original TARP goals."
These findings, Duchin wrote
in a press release, are important
because taxpayer dollars are not.
being appropriated to "support
systematically institutions experi-
encing financial distress."
Because .information is only
made public for banks that actually
received TARP money, Duchin said
the status and political involve-
ment of banks that were denied are
unknown and complicate the issue.
"We'renotsuggestingthatthereis
a causal relation, we're simply docu-
mentinga positive relation between a
political connection or activism and
actually receiving TARP money and
the amount being received,"he said.
Duchin added that in any case,
the findings oppose any idea that
the market is free from political
influence.
"I think that is surprising that
given all this scrutiny and given all
the exposurethatweare ableusing
public data, to actually show such a
strong statistically significant rela-
tion between political connections
and between allocations of TARP
investments," he said.
attempting to take Spanishclasses,"
she said. "For some reason over-
enrollment does seem like more of
a problem this semester."
LSA freshman Rachel Emery
said she tried to avoid being wait-
listed by declaring a Spanish major.
She said she hoped to gain access to
the class spots reserved for concen-
trators, but she still wasn't able to
get into some courses.
Though other students have had
trouble getting into the classes of
their choice, LSA Freshman Dana
Van Oostenburg said she had a
positive experience with her enroll-
ment.
"I feel pretty luckyto have gotten
into my second choice Spanishclass
this semester," she said.
Hannoosh said that this flexibili-
ty is the key to the system, as enroll-
ment does work for students willing
to cooperate with the department.
"We have a dedicated staff who
work hard to help students find
appropriate courses," she said.
"I was like, 'Hey guys, let's go
out and vote,' and we all went out
and voted," Rabhi said.
According to an article pub-
lished in the Daily on Aug. 4, Kun-
selman won the primary election
by six votes.
Kunselman said Rablii's efforts
helped him secure the primary
win.
"I feel pretty confident in say-
ing that it was the student vote that
tipped the scale," Kunselman said.
"Yousef gave me a presence in that
neighborhood that I had not had in
previous races."
Acknowledging the close race,
Rabhi said, "I walked at least six
people to the poles to vote."
Now Rabbi is concentrating on
his own campaign as he prepares
for the primary election on August
3.
The Board of Commissioners is
in charge of allocating state fund-
ing to cities and townships and set-
ting budgets for the county.
"What the board is responsible
for doing is making sure state
money gets to the right places,"
Rabhi said.
Rabhi said he's running to help
defend services the county provides
for disadvantaged citizens- like
homeless shelters, mental health
care programs, and healthcare
packages for the working poor.
9 and 11 percent of total United
States health care costs, mak-
ing the ban of trans fats a sound
choice for protecting the future
of the nation's health care econ-
omy.
Erica Wald, registered dieti-
tian with MHealthy Nutri-
tion and Weight Management,
said the ban will not only make
the food healthier, it will also
improve the quality of the food.
"(Trans fat) has more health
implications than other fats, so
we are trying to substitute the
trans fats for higher quality sub-
stitutes," Wald said. "We're try-
ing lots of different alternatives
ment assuring that the University
strongly values the honesty of the
Athletic Department and will
comply with the procedures of
the investigation.
"As I said at the onset of this
review, we place the highest
importance on the well-being
of our student-athletes and the
integrity of our program," Cole-
man wrote in the statement. "We
continue to work with the NCAA
to ensure that a thorough and
objective investigation occurs."
Though Coleman released the
statement at the start of the inves-
tigation, she was largely silent on
the issue until last night.
At the University Board of
Regents November meeting Cole-
"People who are homeless in the
streets, don't have healthcare, are
mentally ill - these people need to
be taken care of," Rabhi said.
He added that, if elected, he'll
search for ways to retain those ser-
vice in the midst of"hard economic
times."
As Rabhi prepares his cam-
paign, he's relying on the same
demographic that Councilmember
Kunselman to victory - University
students.
"I need students to vote," Rabhi
said.
The lth district encompasses a
large part of the University com-
munity, including East Quad, West
Quad and South Quad, and the stu-
dent-heavy neighborhood on Oak-
land Avenue.
Rabbi said he plans to reach
out to those students and explain
how the county's decisions impact
them.
Though most students won't
be here for the August primary,
Rabbi said he plans to encourage
them to vote absentee and wants
to serve as a voice for students on
the Board. If elected, he plans to
hold regular office hours at cof-
fee shops like Cafe Ambrosia or
Espresso Royale.
"If I'm elected, I'm going to
count on students to be constantly
involved," Rabbi said.
such as prune puree."
In addition to finding trans
fat substitutes, one of the big-
gest challenges this initiative
has faced - both in Michigan
and around the nation - is find-
ing food vendors who will com-
ply with these regulations. Since
so many of the ingredients and
other food products are out-
sourced, the Health System has
to insure that those companies
also abide by the new regulation,
said Luck.
"It made our process more
grueling," Luck said. "A lot of
companies are thinking about it,
and just haven't done it."
man did not make herself available
for comment after the meeting,
something she normally does. At
the same meeting, Regent Andrew
Richner (R-Grosse Pointe Park)
read a statement saying the
Regents would not comment on
the matter.
The NCAA Committee on
Infractions would be responsible
for reviewing the NCAA's find-
ings if it discovers any major vio-
lations by the Michigan football
team. The University would then
face a possible hearing process
regardingthe issue.
- The Associated Press and
Daily News Editor Nicole Aber
contributed to this report.
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Walk to Clubs & Concerts
For Saturday,.J n. 16, 2010 SCORPIO
ARIES it you are patient whi (Oct. 23 to Nov. 21)
(March 21 to April t9) This is a mildly accident-peone day.
You'll have a much easier time today This is not an accident waiting to hap-
pen. Rather, it means that your own
groups. Little flare-ups with friends and impatience, anger or irritation could dis-
acquaintances could cause a problem. tract you. It's up to you.
TAURUS SAGITTARIUS
(April 20 to May 20) (Nov. 22 to Dec. 21)
Demonstrate grace under pressure Avoid arguments with siblings and rel-
when dealing with bosses, parents, atives today. It's very easy to think that
teachers and VIPs today. Don't blow you're right, and to end up in conflict
your cool, because you could regret it mith oders. Take it easy.
later. (Act in such a way that you'll have CAPRICORN
no regrets.) (Dec. 22to Jan. 19)
GEMINI Squabbles and differences about cash
(May 21to June 20) flow, possessions or financial matters
Avoid religious, political and racial could arise today. These difficulties will
arguments or discussions today. Things be fleeting; therefore, hold your tongue.
will get heated too quickly, and nobody AQUARIUS
will win anyhow. (Think about this.) (Jan.20 to Feb. 18) .
CANCER Today the Moon is in your sign, but it
(June 21 to July 22) is opposite fiery Mars. This makes you
You might have to defend your bound- too quick to fight with others. Cool your
aries or your turf today with respect to jets. In your effort to win a silly argu-
shared possessions. Something will ment, you could lose a friend. (Why do
make you quickly feel quite territorial! that?)
LEO PISCES
(July 23 to Aug. 22) (Feb. 191to March 20)
Relutions with partners and close Bebpatient with co-workers today.
friends are mildly explosive today. This There's no need to prove that you are
occurs only for a short window of time, right about something. Just let things go.
but when it does, it's a doozy! You'll be happier if you keep the peace.
VIRGO YOU BORN TODAY In whatever you
gAug. 23 to Sept. 22) do, you're unusually hardworking and
Parents must be patient with children thorough. Essentially, you strive for that
today. People playing sports must guard ultimate sense of accomplishment. You
against accidents. Today's a bit of a crap- want to be fulfilled in whatever task you
shoot. undertake. Nevertheless, you constantly
LIBRA rise to new challenges and seek more
(Sept. 23 to Oct. 22) excitement and thrills. Your year ahead
Avoid domestic conflict or difficult will be focused on partnerships and close
conversations with parents and relatives. friendships.
Just let it go. You will lose more ground Birthdate of: Kate Moss, supermodel;
trying to prove something. (It's no big Dian Fossey, zoologist; A.J. Foyt, race-
deal.) car driver.
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