Observer the
The Independent Newspaper Serving Notre Dame and Saint Mary’s Volume 45 : Issue 7
Wednesday, SEPTEMBER 1, 2010
ndsmcobserver.com
Revisions made to regulations in duLac By JOSEPH McMAHON News Writer
T h e U n i v e r s i t y ’s s t u d e n t handbook, duLac, was revised t h i s s u m m e r, w i t h c l a u s e s clearly defining sexual consent and the Office of Residential L i f e a n d H o u s i n g ’s ( O R L H ) sanctions added while a proposed section defining medical amnesty was not adopted. Other major changes included rel a x i n g r e s t r ic t i o n s o n where students can host tailgates, clarifying the University’s policies on holding disciplinary records and mak-
ing the formatting easier to read, said Nick Ruof, student government chief of staff. “They clarified a lot of things and made it more user-friendly,” he said. The revisions were made after a three-year review process, which began under former vice president for student affairs Fr. Mark Poorman, was finalized this summer under his successor, Fr. Tom Doyle. “Both men provided strong leadership to the entire team that worked on the three-year
see DULAC/page 4
BLAIR CHEMIDLIN | Observer Graphic
Professors debate Goldman-Sachs
University hosts activities night
PAT COVENEY/The Observer
George Enderle, professor of International Business Ethics, debates during the John A. Berges Lecture Series Tuesday. GRACE KENNESSEY/The Observer
By PAT VINETT News Writer
Tuesday marked the first lecture in the John A. Berges Lecture Series in Business Ethics run through the Mendoza College of Business. In “The Ethics of Goldman Sachs: A Debate,” a panel of professors discussed ethics in business. Mendoza College’s Jordan Auditorium was full, leaving only standing room, for George Enderle, professor of International Business Ethics, and Paul Schultz, professor of finance to lecture on one of the top global investment banking and securities firms in the world. To b e g i n t h e i n f o r m a l debate, Enderle gave a PowerPoint presentation titled “Security and
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Exchange Commission vs. Goldman Sachs & Co. and Fabrice Tourre,” in which he claimed that Goldman Sachs misled investors. The case of Goldman Sachs was explained as being a faulty investment, titled Abacus 2007, Enderle said. Abacus 2007 was constructed by Paulson & Co. — a major hedge fund — who according to Enderle “had adverse economic interest.” In essence, the investors of Abacus 2007 did not know of Paulson & Co.’s influence, and thus received flawed information, he said. “Abacus was handpicked by a client who believed that the bonds would fail,” Enderle said. By default, this demonstrated the perception that Goldman Sachs was guilty of being “blind to the ethical
dimension,” Enderle said. Schultz discussed how Paulson & Co. approached Goldman Sachs to develop a Collateralized Debt Obligation that would anticipate that “real estate prices would fall.” Paulson & Co., as a result, made $1 billion, while Goldman Sachs, Deutsche Industriebank (IKB), and the ACA management lost a great deal of money, Schultz said. According to him, SEC made a case of fraud against Goldman Sachs and the company eventually settled with the SEC for $550 million. “The SEC action smells fishy,” Schultz said. Schultz then discussed how the SEC might have been those who were unethical
see GOLDMAN/page 4
James Ware, left, a member of the Class of 2013 Council talks to an observer while Brett Rochelleau, right, gets t-shirts. By EMILY SCHRANK News Writer
Thousands of Notre Dame and Saint Mary’s undergraduate students flooded the Joyce Center Tuesday at the annual Activities Night, sponsored by the Student Activities Office (SAO). Students visited the booths of over 270 campus clubs and organizations, along with a variety of local groups and agencies, Mary Kate Havlik, Student Programs Coordinator, said. “We had about 4,100 total attendees, which is great for our groups,” Havlick said. Freshman Will Cronin said he thought Activities Night was a great way for first-year stu-
dents to get involved in the Notre Dame community and see what opportunities are available to them. “As a business major, I know I’d definitely like to get started with the Student International Business Council (SIBC),” he said. “I’m excited to see all of the other possibilities that exist for involvement on campus.” Cronin said he was also hoping to become an active member of the College Republicans. College Democrats co-president Eileen Flanagan said her club is expecting a large increase in membership this year. “We see a big surge during election years, which will be especially important as we
see ACTIVITIES/page 4
Council of Representatives discuss outreach program page 3 ◆ Football releases depth chart page 16 ◆ Football now and then page 8 ◆ Viewpoint page 6