Syracuse Finance

by Dr. Boyce Watkins

The other night on the Oprah Winfrey Christmas special, President Barack Obama made an unwise move. When asked what grade he deserves as president, Obama gave himself a B+. Giving himself a grade was not necessarily the best decision, since there are over 300 million Americans who then realized that they should be giving him grades as well.
So, allow me to be the first to provide our president with a grade for his performance. I’ve been giving grades to college students for the last 16 years, and one thing my students will tell you is that I am fair. My other argument is that I never actually GIVE you a grade; I simply report the grade that you’ve earned.
1) Handling of the Economy (B-): President Obama is better than John McCain ever could have been when it comes to managing our economic downturn. The problem is that while the president has spiraled our deficit out of control, our nation has yet to see any concrete evidence that the economy’s fundamental strength has returned. He has made an enemy out of Wall Street by grandstanding around executive pay issues, but he has lost the backing of Main Street because job losses continue to mount. That’s the problem with always reaching across the isle: Sometimes, you don’t have firm support on either side of it. The president’s inability to translate massive spending into real jobs is going to cost him big time.
2) Management of the wars in Iraq and Afghanistan (B): On one hand, the president must face the stern reality that you can’t just walk out of a war in the middle of it. We all know that Bush got us into these messes, and Obama must get us out. At the same time, Obama pledged to get us out of the wars faster than he is actually doing it, and it is incredibly awkward for a man to accept a Nobel Peace Prize while simultaneously escalating the troop presence in an occupied country. Sure Obama didn’t give himself the Nobel Prize, but he still must be held accountable.

Click to read.

Click here to watch!

Dr Boyce Watkins is a Finance Professor at Syracuse University

by Dr. Boyce Watkins 

Uncle Ben from Spiderman made the most prophetic statement of the entire film series in his dying days (I almost cried, but don’t tell anybody): "With great power comes great responsibility." Most of us understood what Uncle Ben was trying to say, and that includes Barack Obama.

Uncle Ben should have been the keynote speaker at the latest G-20 Summit, taking place this week in Pittsburgh,PA. The G-20 Summit is a gathering of the Finance Ministers and Central Bank Governors of the world’s 19 wealthiest countries, plus the European Union. These countries encompass 85 percent of the world’s gross domestic product, so they would probably meet Uncle Ben’s qualification for "great power," at least when it comes to money.

The G-20 Summit’s primary objective is to achieve broad cooperation on the preservation of international financial stability. The motivations of the group, created in 1999, are seemingly noble and make perfect sense in light of the fact that the global economy has reached an unprecedented level of integration. If large nations do not work together, the world’s financial system will be subject to alarming amounts of volatility.

Not everyone can see the vision behind G-20 ambitions. Usually, the gatherings of the G-20 are as out of control as a frat party, as protesters have made a game out of disrupting the meetings as much as they possibly can. To prepare for this year’s economic fiesta, the city of Pittsburgh has brought in 4,000 police, 2,000 National Guard troops and 11 Coast Guard vessels.

Police, in an overwhelming show of force, declared Thursday’s march illegal almost as soon as it began, firing rubber bullets and canisters of pepper spray and smoke after small bands of anarchists responded to calls to disperse by rolling huge metal trash bins, throwing rocks and breaking windows. As of Friday morning, reports said nearly 70 people had been arrested and police were bracing for scattered protests around downtown.

President Obama, being the conflicted capitalist/black man/ex-community organizer that he is, made some telling comments about the demonstrators.

Click to read more on MSNBC’s TheGrio.com.

Dr Boyce Watkins, Syracuse University 

After reading about Kentucky Coach John Calipari being found guilty of cheating by the NCAA, I wasn’t surprised in the least. Calipari has never been known for producing the most highly educated athletes in the world (his graduation rate among African American athletes is 44 percent), and he seems to want to win above anything else. The idea that my alma mater, The University of Kentucky, would immediately step in to pay tens of millions of dollars to a coach that has been proven to be a cheater makes a powerful statement about the ethical disposition of this university. Kentucky is like many NCAA institutions in their mass pillage of African American athletes for the sake of their multi-million dollar fortunes.

John Calipari and his old school, The University of Memphis, have been charged with having an SAT exam taken for a player on the basketball team (believed by many to be Derrick Rose of the Chicago Bulls). According to several published sources, the SAT exam was falsified during the 2007 – 2008 season. The team has been required to give back 38 wins from that season, costing the school millions in revenue. These kinds of abuses don’t just occur at The University of Memphis. The University of Kentucky’s basketball program has nearly received the death penalty for its long list of violations in the past, so it is only fitting that they hire yet another arguably unethical coach to continue their storied tradition. Here are some quick thoughts about John Calipari and The University of Kentucky:

Click to read.

by Dr. Boyce Watkins, Syracuse University 

He’s back. After a 2 year saga that kept my head spinning, the young man who made a terrible mistake is finally being allowed to make a living. I have supported Michael Vick all along, but not because I felt that he was innocent. I’ve supported him because I do not believe that dog fighting is the kind of crime that deserves a lifetime punishment. So, to the extremists at PETA who want to see Michael Vick burn in the hell of unemployment and incarceration for the rest of his life, I only have one thing to say: grow up.

Michael Vick’s reinstatement to the NFL and recent signing by the Philadelphia Eagles unleashed a plethora of thoughts within me. On some level, his return is a bit of an "Athletic Juneteenth" for those who tire of seeing our country make African American athletes into public enemy number one whenever they screw up. To this day, we act as if Marion Jones is the devil, Barry Bonds is a monster, and Terrell Owens is some kind of criminal. This treatment is nothing new, as black athletes have been getting villified for decades, and their molehills are consistently turned into mountains, ripe for high-tech lynchings. This is the tradition of America.

It only seems appropriate that Michael Vick sign his contract in a city like Philadelphia, the place that I love and fear at the same time. I love the city because they’ve supported me in my work with the great Wendy Williams, Dom Giordano andCharlamagne Tha God. But there is a dark side of "Killadelphia" that shows itself in the way they support their sports teams. They are the fans that cheered when it appeared that Michael Irvin may have broken his neck, so they sure as heck aren’t going to pay much attention to animal rights protestors blocking their path to a Super Bowl. In a city like Philly, the slogan is simple: "If you win, we forgive all sin." Vick will be right at home.

Click to read more.