Where You Partly Cloudy Read It First 65/54 THE TUFTS DAILY Est. 1980 VOLUME LVI, NUMBER 18 TUESDAY, SEPTEMBER 30, 2008 TUFTSDAILY.COM House rejects bailout bill; market plunges BY PR ANAI CHE R OO Daily Editorial Board The House of Representatives yesterday rejected a $700 billion bailout of the finan- cial industry, even as congressional leaders pleaded for its passage and argued that it was necessary to stave off a devastating economic collapse. The Dow Jones Industrial Average experi- enced an unprecedented fall yesterday, drop- ping by 777.68 points, the most ever in one day. Oil prices also plummeted. “Wall Street was counting on [the bill] pass- ing,” economics Lecturer Anna Hardman said, explaining the stock market drop. In the House, 228 representatives voted against the Emergency Economic Stabilization Act of 2008, and 205 supported it. Advocates of the failed bill are scrambling to craft substitute legislation that can appease representatives, whose phones rang off the hook in recent days with calls from angry con- stituents. “Those who have caused the problem [are] receiving the benefit,” Economics Lecturer Jack Green said, referring to how the legisla- tion would benefit Wall Street executives. This proposed payout to major companies has frus- trated many Americans, he said. The bill would inject taxpayer money into private financial companies, many of which are shutting down or being bought out as MCT the result of the mounting global recession. Speaker Nancy Pelosi leaves a news conference after the House rejected the bailout bill yesterday. Pelosi has harshly criticized Republicans for not rallying behind the legislation. see ECONOMY, page 2 female CEO of DuPont BY GIOVANNI RUSSONELLO you really want to be a part of AlumnaDaily Editorial Board is namedwhat she is doing.” first University President Lawrence Hillel helps DuPont has selected Ellen Bacow said Kullman’s appoint- Kullman (E ’78) to become its ment is an indication of the students Rock president and chief executive worth that a Tufts education officer (CEO), making her the carries. “Ellen Kullman is every- the Vote first woman to lead a major U.S. thing a great CEO should be chemical company, the corpo- — smart, strategic, thoughtful, ration announced last Tuesday. experienced and, of course, well Kullman, a Tufts trustee, will educated. DuPont is fortunate become the third board mem- to be getting the benefit of her ber actively serving as CEO of a leadership,” he said in a state- Fortune 100 company when she ment to the Daily. “[Her] suc- assumes the executive’s chair cess and [that] of many others on Jan. 1. She will take over as speaks well of the value of a company president tomorrow. Tufts education.” “She’s just a gifted leader,” Bacow noted the spate of DuPont spokesperson Anthony prominent business leaders Farina told the Daily. “Some that graduated from Tufts in people have this capability and Kullman’s class. Jamie Dimon, some people don’t. Ellen has the CEO of JPMorgan Chase, and this capability where you really REBEKAH SOKOL/TUFTS DAILY want to be a part of her team, see KULLMAN, page 2 Volunteers at yesterday’s Rock the Vote event achieved their goal by signing up over 100 students to receive absentee ballots for the upcoming presidential election. “It was definitely a success — it was always busy,” said sophomore Amy Glazier, who helped run the Hillel-sponsored event. Glazier and others set up a booth on the campus center patio, where they helped students enlist online to receive ballots in the mail. Volunteers also helped some students register to vote. BY NEESHA BHA G AT AND Shape Up Somerville program, Shape Up Somerville and C A R TE R R O G E R S a collaboration between Tufts an assistant professor at the Contributing Writers and the City of Somerville, Friedman School of Nutrition Curtatone, other officialsaccording to Lesleyvisit Hawkins, Tufts Science for health and Policy, talk joined State and city officials the public information offi- Somerville Mayor Joseph joined educators in Ballou cer at City Hall. Shape Up Curtatone and Springfield Hall yesterday to stress the Somerville promotes healthy Mayor Domenic Sarno on a need for involvement from living by focusing on nutri- panel. COURTESY DUPONT.COM local governments in build- tion and physical activity. Keynote speaker Mark Ellen Kullman chats with current DuPont CEO Chad Holliday. Kullman will ing healthy communities. Christina Economos, the take over as CEO on Jan. 1. The event grew out of the principal investigator for see HEALTH, page 2 Inside this issue Today’s Sections Sophomore runner Steph Professors are making McNamara leads Tufts to News 1 Editorial | Letters 10 more of an effort to learn a third-place finish at the Features 3 Comics 11 students’ names. Codfish Bowl. Arts | Living 5Classifieds 13 Captured 8 Sports Back see FEATURES, page 3 see SPORTS, back page 2 THE TUF T S DAILY NEWS Tuesday, September 30, 2008 Police Briefs ECONOMY just punish Wall Street, but put hard-work- BURN-IE BABY WOULD YOU LIKE A BLOODY continued from page 1 ing Americans at risk of losing their homes, NOSE WITH THAT? Backers of the bailout legislation back- their jobs and their savings.” Markey repre- The Tufts University Police Department ersWall include StreetFederal Reserve crisis Chairman Benaffects sents parts ofstudent Medford, including loans a portion (TUPD) received a call at 1:03 p.m. on A student reported at 2:40 a.m. on Bernanke, Treasury Secretary Henry M. of Tufts’ campus. Sept. 26 about a fire on the roof of the Sept. 28 that he had been headbutted Paulson, Jr., House Speaker Nancy Pelosi, Barton Edgerton, a lecturer in the Carmichael Dining Hall. The Medford Fire at the corner of Packard Avenue and President George W. Bush and the two major Department of Political Science, agreed that Department also responded and hosed Professors Row. The student said he presidential candidates, Sens. John McCain inaction will only exacerbate the problem. down the area. was waiting in line to buy something (R-Ariz.) and Barack Obama (D-Ill.). “I think the worst thing is doing nothing; I Someone had lit a stuffed animal on from Moe’s food stand when another Paulson promised to continue work- think that there’s pretty broad agreement that fire and thrown it out of the window of student came up to him and rammed ing to pass the bailout. “This is much too something needs to be done. [But there’s] a a dorm room, according to TUPD Sgt. him in the face, giving him a bloody important to simply let fail,” he told the good deal of dispute as to what should be Robert McCarthy. The creature landed on nose. press after the House’s vote. Paulson insist- done,” he said. the roof of the dining hall, causing the fire, ed that rejecting the bill meant doom not According to The Wall Street Journal, the he said. MIDNIGHT MARAUDER only for companies, but also for everyday bill would provide the Treasury with access to The minor blaze led to a small amount Americans. “Families, too, feel the credit a $700 billion line of credit and wide author- of damage. The Department of Facilities Officers received information at 3:23 crunch as it becomes more difficult to get ity to buy shaky mortgages, securities and placed a tarp over the area to protect it a.m. on Sept. 28 about a Tufts student car loans or student loans,” he said. financial assets that are undermining mar- from this weekend’s rainy weather. breaking and entering on Bromfield Opponents of the bill argued that it had ket confidence and limiting the liquidity of Avenue. When the police received been put together too hastily and that it financial institutions. HE CAME IN THROUGH THE word, the house’s resident was chasing committed too much of taxpayers’ money While current economic turmoil and lack DORM ROOM window… the student down Bromfield toward and not enough funding from Wall Street of liquidity will resound more immediately College Avenue. firms, whose irresponsibility many blame across Wall Street, they will impact students A resident of 14 Sawyer Ave. approached The student had kicked in the rear for the current economic turmoil. as well. TUPD officers on the road at 12:31 a.m. door of the apartment, waking the Supporters believed the bailout was vital “Already, in the past year, student loans on Sept. 28 to tell them that $300 had inhabitants, McCarthy said. The chase to helping both smaller businesses and major have come under tension,” Edgerton said. been stolen from her room while she was ended when he entered another house financial corporations weather the crisis. Last week, the Daily reported that 135 lend- downstairs in the common room. on Bromfield. “A lot of people who don’t like this still ers have suspended federal loans through She had left her door locked but neglect- The Somerville Police Department believe that it may be the least bad option,” the Federal Family Education Loan Program ed to lock her windows. The window was arrested the student for breaking and Hardman said. (FFELP), including the Massachusetts open when the student returned to her entering. “Nobody wanted to be in this situation,” Educational Finance Authority, the state’s room. Someone had entered through the Rep. Ed Markey (D-Mass.) said in a state- most prolific student lender. window by way of the fire escape and ment. “But, after careful consideration, taken money, McCarthy said. — compiled by Sarah Butrymowicz I decided to support this bill because I Alexandra Bogus and Giovanni Russonello believe that a failure to act now would not contributed reporting to this article.