2008-09 Issue 04 Loquitur

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Thursday, Sept. 25, 2008

YOU SPEAK, WE LISTEN

Radnor, Pa.

CABRINI COLLEGE

Pacemaker Winner Vol L, Issue 04

www.theloquitur.com

Freshmen learn Fair Trade first-hand

Financial crisis hits hard on Wall Street meghan smith

managing editor

mes733@cabrini.edu

fighting among other problems, AIDS, and Indonesia who is still recovering from the 2004 Indian Ocean tsunami. To find out more about Fair Trade, the students interviewed the owner of local shops in Media such as “Earth and State” and recorded their interviews using video, audio and photography as part of a multimedia project. Earth and State sells products like pottery, glass-work, metal-work and other Fair Trade items. Many

Last week was the most turbulent week in money since the Great Depression.   The following major financial institutions experienced bankruptcy failure or severe problems over the last few months: Freddie Mac, Fannie Mae, Bear Stearns, Merrill Lynch, Lehman Brothers and American International Group.   Finally on Saturday, the chairman of the Federal Reserve Bank and the secretary of the treasury decided, rather than deciding on a case by case basis as each financial institution cried for help, to give an unprecedented $700 billion rescue of all the bad mortgages in order to stop the problems. Loquitur spoke with Dr. Mary Harris, associate professor of finance and chair of the business department. She explained the basics of what happened.   What caused this financial crisis?   Bad mortgage loans are where this started. For a number of years banks have been making increasingly risky loans, called subprime loans. Subprime loans are loans made to people with risky credit who could not afford or even get a regular loan.

FAIR TRADE, page 3

ECONOMY, page 3

Staff photographer

Cabrini students: Kara Schneider, Emily Lewis, Lauren Miskofsky, Lauren Stanley and Holly Prendergast speak with a Fair Trade representative in Media, Pa. Recently a frehman Engagements of the Common Good seminar visited the town which has been recognized as the first Fair Trade town in the United States. andrew stettler staff writer

ads725@cabrini.edu

Cabrini freshmen got a chance at hands-on learning about Fair Trade when their class used multimedia reporting at a Fair Trade fair in nearby Media, Pa. Over the past two years, Media, Pa., has been recognized as the first Fair Trade town in the United States. Recently, a freshmen ECG 100 class visited Media for the town’s Fair Trade live concert and “Fair” Fair to learn first hand about Fair Trade. Freshman communications

major Michelle Costa said, “Speaking in class and taking notes on Fair Trade, certainly does not compare to being at a fair where one is surrounded by the pride, hope and quality of Fair Trade products and the passionate people dedicated to this moment.” A new core general education class, ECG 100 Our Interdependent World, pushes students down the path to making the world self sufficient. Putting emphasis on developing countries as well as impoverished people in the United States the class is challenged in their own personal

core values. “It made me want to get involved. I was so inspired by the dedication,” Alyssa Davies, freshman communication major, said. She was one of the ECG 100 students who attended the fair. “It is not just helping one person; it is helping a community, that is important.” In short, Fair Trade is a trade system that cuts out the middle man and assures that the majority of the profit goes to the suppliers themselves. This practice is helping to solve global problems around the world in developing areas like Africa who are

Gorbachev wins Liberty Medal christopher r. blake news editor

crb724@cabrini.edu diana trasatti copy editor

dlt722@cabrini.edu

Former Soviet leader and Nobel Peace Prize winner Mikhail Gorbachev was awarded the National Constitution Center’s 2008 Liberty Medal for his brave leadership in ending the decade-long Cold War, ultimately providing hope and freedom for generations to come. The 2008 Liberty Medal ceremony marked an early opportunity to remember the 20th anniversary of the fall of the Berlin Wall to come in 2009. “Tonight we honor a man who

INSIDE

this week’s edition

altered the direction of history and pointed it towards freedom. His actions encouraged freedom fighters old and new across Eastern Europe, and around the globe,” National Constitution Center President and CEO Joseph M. Torsella said. “And we will make some history of our own by bestowing the 20th Liberty Medal on Mikhail Sergeyevich Gorbachev, who reshaped our world for the better, for the freer. And whose life teaches us, above all, that none of us―not people and not nations― are prisoners of our past.” Former President George H.W. Bush, chairman of the Center’s board of trustees, presented Gorbachev the medal, a perfect union between the two previously powerful global leaders.

The Liberty Medal award was instituted in 1988 in recognition of the 200-year anniversary of the Constitution. The award acknowledges those who have “demonstrated their leadership abilities to pursue liberty in the face of oppression and ignorance.” The ceremony’s presenters included Torsella, Mayor Michael Nutter and Governor Ed Rendell. “What can one person do? Turns out he changed the world and so can we,” Torsella said reflecting on the impact that Gorbachev had on ending the Cold War. Gorbachev grew up in a world of totalitarianism under the rule

GORBACHEV, page 3

Christopher R. Blake/News Editor

Former Soviet leader and Nobel Peace Prize winner speaks with reporters following a press conference at the National Constitution Center in Philadelphia, Pa.

Men’s Soccer

BIG SCREEN GOES GREEN

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