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Wednesday, September 23, 2015

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the statement

Former vice-chair 
of the U.S Federal 
Reserve calls on 

students to plan ahead

By EMMA KINERY

Daily Staff Reporter

Retirement may be a long way 

off for the University students 
who attended Tuesday’s Ford 
Policy Talk, but the president 
of one of the nation’s largest 

nonprofit financial institutions 
told them they should start 
planning now.

Roger Ferguson, president and 

CEO of TIAA-CREF, discussed 
financial literacy and economics 
during 
a 
discussion 
with 

University students and faculty.

TIAA is one of the largest 

nonprofit financial institutions 
in the nation and one of the 
retirement policy providers for 
the University.

Ferguson, 
the 
former 

vice chairman of the Board 
of 
Governors 
of 
the 
U.S. 

Federal 
Reserve, 
previously 

served 
on 
President 
Barack 

Obama’s Council on Jobs and 
Competitiveness 
and 
worked 

on a long-term study for the 
National Academy of Science 
on the effects of the aging 
population in the United States.

During the talk, Ferguson 

said he sees Americans’ lack of 
fiscal knowledge as one of the 
most pressing issues facing the 
U.S. economy.

Thirty percent of Americans, 

when tested on their financial 
literacy, fell into the category of 

financially illiterate, Ferguson said.

“The state of financial literacy 

is 
abysmal,” 
he 
said. 
“The 

problem is that most parents 
are not very comfortable with 
finances, and therefore their 
kids are not comfortable. Adults 
in general aren’t comfortable, 
teachers are uncomfortable … So 
I think that there’s this general 
lack of financial awareness that 
permeates our society.”

The solution, he said, lies in 

education, citing work he’s doing 
with 15 graduate schools to try to 

GOP presidential 
nominee hasn’t 

won the state since 
George H.W. Bush 

By SHOHAM GEVA

Daily News Editor

MACKINAC 
ISLAND 
— 

They came to Michigan, and 
they recited the usual platitudes 
Republicans in the state have 
been saying for at least the past 
27 years: 2016 is the year the 
GOP takes Michigan back in the 
presidential election.

Republicans haven’t won the 

state in a presidential election 
since 1988, but to the five GOP 
presidential 
candidates 
who 

came to Mackinac Island this 
weekend 
for 
a 
Republican 

leadership conference, it wasn’t 
just platitudes. They were high-
confidence predictions.

At a rally on the island, 

Sen. 
Ted 
Cruz 
(R–Texas) 

vowed to campaign hard in 
the state, promising a repeat 
of the Reagan Revolution — a 
reference to former President 
Ronald 
Reagan’s 
ability 
to 

attract Democratic voters, and 
the groundswell of support 
he found among Democrats in 
Macomb, Mich.

Sen. Rand Paul (R–Ky.), the 

winner of the weekend’s straw 
poll and a frequent visitor to the 
state, touted Michigan-focused 
policy — like his plan to return 
money to large urban areas like 
Detroit through what he calls 
“economic freedom zones.”

To reporters, he said he 

thought he’d be competitive 
in Michigan because of his 
positions on issues like Detroit 
and privacy, citing the NSA’s 
surveillance of cell phones 
through the Patriot Act.

“When you talk to college kids 

or you do a survey, let’s say even 
40 or under, 83 percent think we 
went way too far in collecting all 
the phone records,” he said. “And 

Students also choose 
election dates and 
strategize around 
intercouncil unity

By JACKIE CHARNIGA

Daily Staff Reporter

The director of the Office 

of Student Conflict Resolution 
addressed members of Central 
Student 
Government 
on 

Tuesday 
amid 
an 
ongoing 

revision 
process 
for 
the 

Statement of Student Rights and 
Responsibilities. 

Erik Wessel, the director, 

discussed ways student could 
contribute input during the 
revision. The statement outlines 
expectations 
for 
student 

conduct, and suggests sanctions 
and disciplinary procedures if 
they are not met.

The statement is amended 

every 
three 
years. 
Wessel 

said 
it 
was 
important 
for 

students 
to 
be 
actively 

involved in the amendment 
process, particularly because 
a 
University 
student 
is 

automatically 
bound 
the 

statement upon their enrollment 
at the University.

“The statement is best served 

when the entire community 
has a voice in its continued 
creation,” Wessel said, “My 
hope is that you will join me in 
that process.”

CSG’s 
Student 
Conduct 

Advisory Board is in charge of 
drafting the amended statement. 
They draft the statement based 
on 
conversations 
with 
the 

student body. The next forum 
will be held Oct. 1 at Weill Hall.

Wessel provided examples of 

the kinds of conflicts that may be 
addressed in the new statement, 
such as how the University 
handles students who enter 
buildings unauthorized, such as 
the Big House.

Remarks highlight 
opportunities for 
LSA students after 

graduation

By EMILY MIILLER

Daily Staff Reporter

The 
setting 
was 

intimate 
Tuesday 
at 
the 

#withDeanMartin event held 

in the basement of Bursley 
Residence Hall.

LSA Dean Andrew Martin 

hosted the open discussion 
Tuesday night, continuing a 
series of forums held last year.

The 
audience 
included 
a 

handful of freshmen as well 
as several dean ambassadors, 
the 
students 
who 
helped 

organize the event and work 
with Martin’s office over the 
year to engage with students as 
part of the Dean’s Ambassador 

Program.

The tone was informal, with 

questions ranging from study 
tips to the dean’s role at the 
University.

Martin 
emphasized 
the 

importance of taking advantage 
of LSA’s growing internship 
programs, and said his office 
was looking into opening a 
Opportunity Center to ensure 
students are aware of internship 
opportunities.

 $12 million 
allocated for 
North Campus 

building renovation 

By KATIE PENROD

Daily Staff Reporter

More than 10 years after 

disassembling 
its 
nuclear 

reactor, 
the 
University 
is 

allocating 
$12 
million 
to 

renovate 
the 
building 
and 

create a Nuclear Engineering 
Laboratory in the existing space.

The 
building 
was 
first 

created following World War 
II, as part of a project called 
the 
Michigan 
Memorial 

Phoenix Project. Its purpose 
was to honor members of the 
University who had died in the 
war, and was recognized by 
President Dwight Eisenhower 
as a facility for peaceful 
nuclear research.

Alum Bob Beyster and his 

See POLICY, Page 3A
See GOP, Page 3A

See NUCLEAR, Page 3A
See DEAN, Page 3A
See CSG, Page 3A

GOVERNMENT

RESEARCH
STUDENT GOVERNMENT

EMILIE FARRUGIA/Daily

Justin Wolfers, professor of Economics and Public Policy, and Roger Ferguson, president and CEO of TIAA-CREF and former vice chairman of the U.S. Federal 
Reserve, have a conversation about fiscal knowledge and financial literacy in Lydia Mendelssohn Theatre at the Ford School on Tuesday.

RITA MORRIS/Daily

LSA Dean Andrew Martin answers students questions and discusses undergraduate opportunities in the Living Arts 
Lounge at Bursley Hall on Tuesday.

Policy talk highlights need 
to prepare for retirement

Optimism 
for 2016 

abounds on 
Mackinac

At CSG, OSCR 
director speaks 
about amending
rights statement

Dean Martin talks student 
internships at open forum

Former ‘U’ 
reactor to 
become lab 
for nuclear
research

INDEX
Vol. CXXIV, No. 130
©2015 The Michigan Daily
michigandaily.com

NEWS......................... 2A

OPINION.....................4A

A RT S . . . . . . . . . . . . . . . . . . . . . . . . 5A

SPORTS ......................7A

CL ASSIFIEDS...............6A

THE STATEMENT..........1B

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