Alexander Draine

Recent Articles:


Financial sector lacks standards

Quarterly profits are quarterly profits, right? A company simply reports the revenues and costs associated with a three-month period and the difference must be the net gains or losses accrued by the firm. In theory this is how it works; reality often paints a different picture.


Stressful testing for economy

The stock market has been lurching upward, with the Dow Jones Industrial Average recently crossing the 8,000-point threshold. Many pundits and commentators have interpreted this sign as the beginning of a recovery. This assumption is based on the belief that the stock market is a leading indicator of economic growth. While it is true, historically speaking, that the trough of the stock market has preceded economic recovery, it is still premature to declare that we have reached the trough. There are several reasons to believe that the current uptick may not herald the recovery we all hope is around the corner.


Underlying cause of AIG's financial woes

The popular fury at the executive bonuses paid out by American International Group is well placed. Despite the fact that these bonuses represent only one tenth of one percent of the total bailout money received by AIG, the symbolism of these bonuses enrages the average taxpayer. However, rather than bonuses, I would like to examine the underlying cause of AIG's financial woes.


Ideas for better health care

President Barack Obama's recent budget proposal, as outlined in his address to Congress, requested $634 billion to be set aside for health care reform. Health care reform is a topic that has been touted by many politicians with little to show for it. Due to a lack of specifics from the Obama administration, I will instead outline my own proposal for health care reform.


On Nationalism

It seems as though a day cannot go by without hearing the N-word. That's right, I'm talking about nationalization.


Stimulus plan vs. the bailout

There is a lot of financial and economic jargon and buzzwords floating around these days. From Washington to New York, numbers and terms are being thrown about with abandon. It has become clear many people do not fully understand the subtle and not-so-subtle differences in economic policy.


Black Friday was a disgrace

The Friday after Thanksgiving has come to be known as Black Friday. It is a chaotic day characterized by sales, shopping and throngs of people. Black Friday is perhaps the busiest shopping day of the year. The term "Black Friday" was coined because it is the day that retailers typically become profitable for the year or go "into the black."


Government must make concerted effort to promote stability

During times of economic turbulence we need a concerted effort by the government to promote stability. The magnitude of the situation precludes most individual private efforts from meeting any success. There are two tools that the government has available: fiscal policy and monetary policy.


Change is inevitable, but can America survive as a 'peaceful power'

By the time you're reading this, the next president of the United States will have been swept into office by the largest American voter turnout in history. Right now, the future of the country is more on the minds of the American people than ever before. As good an indicator of the excitement as any is the 300-plus point surge the Dow underwent during trading yesterday. Watching the MSNBC pre-game show, there is unanimous agreement on at least one point: This is the most important election in U.S. history. Ask yourself why that is? What is at stake? Increasingly, we as a people are realizing that the time-honored tradition of American global supremacy is in danger. From a historical perspective, we see this as a critical moment in time where our actions and the actions of our leaders will come to define our continued prosperity or eventual decline. With that in mind, we propose to consider the coming challenges facing the American people, and of course, our new president, whomever he may be. What are the dangers we face, and how should they be addressed?


Voting machines are not secure

Representative forms of governments are based upon on the concept of voting. Casting a vote gives an individual a voice in matters of government, which affect all citizens. For these types of governments to be considered legitimate, they must obtain a consensus or mandate from the voting public to carry out their political agenda. This makes it absolutely necessary for voting and elections to remain free and fair. The voting public must be sure that their intent is accurately transmitted through the voting process.


A glance at Fannie and Freddie

Anyone who has picked up a newspaper or glanced at a television in the past month can tell that we are in the middle of a financial crisis and that it has something to do with subprime lending and mortgages.


Voting should not be restricted

In a letter printed in The Daily Targum on Oct. 8, the author of "Too lazy to make an informed decision? Then don't vote" decries the lack of knowledge most students possess about politics and the upcoming presidential election. This is an interesting topic that deserves further examination.


Stop 'not-for-profit' politics

In the midst of all the controversy that surrounds the presidential election, it was easy to miss an interesting piece of news that deals with the First Amendment. The First Amendment guarantees the right to free speech, free assembly, free press and prohibits the establishment of any state religion.

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