The Chronicle T h e i n d e p e n d e n t d a i ly at D u k e U n i v e r s i t y
WEDNESDAY, FEBRUARY 9, 2011
ONE HUNDRED AND SIXTH YEAR, Issue 93
www.dukechronicle.com
Bair: recession a failure of accountability
UNC
DUKE
CAMERON • TONIGHT • 9 p.m. • ESPN
GAME TIME
by Alex Zempolich THE CHRONICLE
In her visit to Duke, the chairman of the Federal Deposit Insurance Corporation recalled failures that led to the financial crisis and offered suggestions for avoiding similar problems in the future. Sheila Bair, who was elected chairman of the FDIC in 2006, noted in a panel discussion Tuesday that a strong moral compass and sense of a responsibility would have gone a long way in avoiding the financial crisis. In the aftermath of a downturn intensified by failures of accountability, Bair and other panelists stressed the role of education in promoting business ethics and future crises. “I think everybody could have seen [the recession] if they were looking, but they were looking the other way,” Bair said. “There was a systematic breakdown in accountability.” Complementing the idea of vigilance in business, the panel criticized the common perception that regulation is harmful—an issue Bair consistently encounters in her position. “Culturally, we see regulation as an annoying thing,” Bair said. “I think public support for the regulatory practices is very
Outright lead in ACC up for grabs tonight by Tim Visutipol THE CHRONICLE
Students in the class of 2009 never felt the joy of a home win over rival North Carolina in Cameron Indoor Stadium. Last season, fans saw a much different story than the seniors from a year ago. Duke demolished the Tar Heels, 82-50. Tonight, the No. 5 Blue Devils (21-2, 8-1 in the ACC) have a chance to keep the bragging rights and the balance of power here in Durham, when they face off against No. 21 North Carolina (17-5, 7-1) at 9 p.m. in Cameron Indoor Stadium. The stakes are higher this year than the last. The outright lead in the conference is up for grabs, and Duke will take on its first ranked opponent since beating then-No.6 Michigan State on December 1st. See duke-unc on page 12
See bair on page 4
GRaduate YOung trustee finalist
undergraduate young trustee finalist
Makaron to use financial Davis stresses globalization, skill to build Duke brand draws on board experience by Nicole Kyle
By Stephanie Tsimis
As a former manager of the men’s basketball team and a current Fuqua student, Joshua Makaron is no stranger to the Duke brand. Makaron would like to continue to be a part of the ongoing development of that brand as a graduate Young Trustee. “I would love the opportunity to serve my peers to ensure that the graduate student perspective is conveyed as accurately as possible in the University’s decisionmaking process, with an eye towards building the brands of all of Duke’s programs in an increasingly competitive marketplace,” Makaron wrote in an e-mail Tuesday. The second-year MBA candidate concentrating in social entrepreneurship and finance is one of three finalists in the race for the
If elected Young Trustee, Matt Davis strives to enable students to benefit from their time at Duke even more than he has. Former president of Wayne Manor and a member of The Duke Student Publishing Company Board of Directors, Davis believes that his classroom, boardroom and organizational experiences prepare him to bring a unique perspective and impact to Board of Trustees meetings. “I’ve gotten a lot from Duke. It’s been a place where I’ve been presented with a lot of opportunities to grow. I want to make sure that those opportunities are present and available to students who follow after I leave,” Davis said. The senior will graduate with a major
See makaron on page 4
See davis on page 5
THE CHRONICLE
tyler seuc/The Chronicle
A second-year MBA student at the Fuqua School of Business, graduate Young Trustee finalist Josh Makaron looks to establish a “culture of entrepreneurship.”
DSG reviews programming in K-ville, Page 3
THE CHRONICLE
ONTHERECORD
“You don’t aspire to be like everyone you admire, but you admire everyone you aspire to be like.”
—Senior Daniel Wong in “Are you doing too much good?” See column page 14
maya robinson/The Chronicle
Undergraduate Young Trustee finalist Matt Davis hopes to make New Campus a priority and continue to build on Duke’s globalization efforts.
Durham unemployment rate lower than state level, Page 3