2008_09_30

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S P The

Serving Southern Miss since 1927

Tuesday, September 30, 2008

Volume 93, Issue 12

Congress rejects bailout deal

From staff and wire reports Subprime mortgage? Toxic loans? Securitization? As the U.S. Congress continues to grapple with how to deal with a massive financial bailout designed to save both the American and world markets, what’s a poor college student to do? “Students shouldn’t worry,” said Sami Dakhlia, USM assistant professor of economic. “I think everything will be fine.” In the short term, Dakhlia said students should take a “wait and see” attitude regarding the outcome of today’s volatile financial markets. But to be on the safe side, Dakhlia said students should think hard before making those bigticket purchases. “Don’t get in

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The real thing to fear is a rise in unemployment rate, which is already up 2 percent...If a recession isn’t avoided, a lot of people just coming out of college will have a hard time finding a job because of a slow economy in general.” -Mark Klinedinst, Economics professor

over your head,” he said. So how did we get here? The economy started to slump in 2003 and the Federal Reserve Bank lowered interest rates in hopes that more Americans would buy a home. Lenders sweetened the deal by introducing new kinds of loans – adjustable rate mortgages and subprime loans -- which made buying a home easier for those with questionable credit.

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The result? Lots of people bought lots of homes. But banks need liquidity in their assets so they started a process called securitization, which is selling packages of mortgage loans to financial institutions like Lehman Brothers at a profit. The banks would bundle good loans – those that are expected to be paid back – with not so good loans in the sales. Because securitization is fast

and profitable for banks, there was more money available to give loans to more people. Borrowers’ credit quality took a back seat to selling a higher quantity of loans. As interest rates decreased and the number of buyers increased, houses were in high demand and prices rose. But all those borrowers could not pay for the houses they bought, thus creating a “bubble” in the real estate market. The bubble burst when lenders started foreclosing on houses that could not be paid off by the subprime borrowers. The demand in houses decreased, which dropped their collective value, and the value of the housing market collapsed. Companies like Lehman BAILOUT continued on page 3

PRESIDENTIAL DEBATE IN MISSISSIPPI

Friday’s debate starts discussion Students sound off on presidential candidates Andy Hess Executive Editor

OXFORD - Even though Sens. Barack Obama and John McCain left the Ford Center at the University of Mississippi late Saturday evening, students and citizens who came to watch the debate on the lawn at The Grove were weighing in on the evening. The viewing party -- which was prefaced by a concert series featuring local favorites the North Mississippi All-Stars -- was half tailgating party, half a presidential debate with tents and booths set up by both Obama and McCain camps among others. “I love the school’s set up and everything they had going on in the Grove,” said Kenneth Anderson, a civil engineering major from the University of Alabama. “It’s been great. An Ole Miss student let me sit on their blanket. They were all very friendly and it was a very loving environment.” But the fun-loving atmosphere turned into a partisan event quickly as the sun set and the debate began. Cheers and boos could be heard throughout debate as Sens. Barack Obama and John McCain verbally sparred during the debate over foreign policy and the economy. While the general consensus was that there was no winner, the debate helped shape the opinion

For more coverage • Photo galleries • Video • Exclusive stories Check us out online: www.studentprintz.com of indifferent voters. “There were very strong in their opinions,” said Shane Russell, a junior computer engineering major from the University of Alabama. “They both brought up good points.” “There wasn’t a clear winner, but I think McCain increased his image with the votership,” the 21-year-old added. “He came off as a very stoic veteran and approachable and human. Obama already felt like that and I think the test for Obama is if he can stand up against that experience. I thought he faired pretty well.” But that’s not to say there weren’t plenty of people who thought their candidate easily won in a landslide. “John McCain just stuck to the talking points, while Obama answered the questions America wanted to hear,” said Dwight Mason, 41, of South Haven. “I think McCain was much more confident in his presentation and came off as more of a leader and Obama was struggling to come up with things to

Sebe Dale IV, David Jackson, Patrick Laughlin/Printz

Top Left: Southern Miss alumni, now Ole Miss grad students, (from left) Nathan Wilson, first year law grad from Gulfport; Leslie Gaddis, first year pharmacy grad from Meridian; and Jaime McKercher, first year law grad from Vicksburg watch the 2008 Presidential Debate from The Grove on the Ole Miss Campus. Bottom Left: Camaron Robinson shows support for Sen. Barack Obama with a sign at the 2008 Presidential Debate Friday. Robinson said that she only wishes she could vote as a 6-year-old. Right: Students gathered inside the Power House watch as Senator Obama speaks at the presidential debate last Friday. The debate was shown by the USM College Democrats and the College Republicans.

say,” said Sara Balch, 20, a senior marketing major at the Unversity of Mississippi. For others, the debate did not clarify policy and was nothing more than rhetoric. “I personally felt that these candidates have been saying the same thing over and over,” said Asma Al-Sherri, 18, a doublemajor in political science and

public policy leadership. “I was one of the few students who was invited to the debate and I decided not to go because I felt it pointless to go. “Honestly, they were both attacking each other and nothing was really discussed in the end other than a bunch of slandering.”

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Honestly, they were both attacking each other and nothing was really discussed in the end other than a bunch of slandering

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-Asma Al-Sherri, political science and public policy double major

Counseling center to increase awareness about suicide Candi Johnson Printz Writer

The University of Southern Mississippi Counseling Center will host Suicide Prevention Awareness Week, Sept. 30 through Oct. 2, 2008. The week will feature various events and a guest appearance by Ross Szabo, national speaker and author of “Behind Happy Faces: Taking Charge of Your Mental Health, A Guide for Young Adults.” According to a report by MSNBC. com, suicide is the second leading cause of death among college

students. The report revealed that more than half of American college students have considered suicide at some point in their lives. Brandi Gunter, licensed marriage and family therapist of USM Counseling Center, said there are many different complex personal, environmental, social and cultural factors that contribute to a person’s risk for suicide. “In general, a person considering suicide may experience increased feelings of hopelessness and helpless, feelings of being a burden to others, and lacking a sense of purpose in one’s life,” Gunter explained.

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The purpose of the week is to remember those on our campus and in our community who have been affected by suicide and to bring awareness to the relevance of this topic on college -Brandi Gunter, USM Counseling Center campuses.

Gunter said it is important to address the issue of suicide on college campuses. “The purpose of the week is to remember those on our campus and in our community who have been affected by suicide and to bring awareness to the relevance of this topic on college campuses.” Gunter added that Dr.

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Joe Paul, vice-president of Student Affairs, would officially announce the beginning of Suicide Awareness Week on Tuesday at 12:15 p.m. The announcement would signal the beginning of several activities to occur throughout the remainder of the week. On Tuesday, Sept. 30 from 10

a.m. until 2 p.m., there will be an information fair held in the Thad Cochran Center. The fair will feature Pine Belt Mental Healthcare Resources, Pine Grove Behavioral Health, Student Counseling Services, Memorial Behavioral Health, Shafer Crisis Center and the Domestic Abuse Family Shelter. Kym Garraway, a local artist, is donating a painting to be given away in a drawing. On Wednesday, Ross Szabo will present “What Happy Faces are Hiding: Talking about Depression.” Gunter said Ross will share his personal story of struggles

with Bipolar Disorder as a young adult and emphasize the danger of substance abuse, isolation, and untreated mental illness. Ross is currently the Director of Youth Outreach for the National Mental Health Awareness Campaign and began speaking about mental health at age 17. In the last 6 years he is the only person in the country who has spoken to well over half a million young people in high schools and colleges about mental health issues. He was named 2007 Best Male Performer of the Year by Campus Activities Magazine which recognized him as one of


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