Despite claims that the government shutdown is a driving factor for the recent stock market drops, Victor Matheson, professor of economics at the College of the Holy Cross, tells Channel 3/NECN that people should instead be more concerned about the approaching debt ceiling deadline. He compares the current situation to the Lehman Brothers shutdown in 2008 with a default on $500 million debt, causing stocks to drop by fifty percent.
“What we have going down in two weeks is potentially the government not paying out on twelve trillion dollars of money, twenty five times bigger than Lehman Brothers. And so, the effects on the stock market there can be catastrophic,” said Matheson.
This Holy Cross in the News item is by Sara Bovat ’14.
Alumnus Bill Simmons Gives ‘Today’ Show a Sneak Peek into his New HBO Talk Show
NBC’s “Today” show
In a recent interview with NBC’s “Today” show, Bill Simmons ’92 revealed that his new talk show, “Any Given Wednesday,” will touch on pop culture, tech,...06/17/16
Alumnus Awarded for Work in Boosting Diversity at MassMutual
The Bay State Banner
Dominic Blue ’98 recently received the Founders’ Award, an award given by The Lawyers’ Committee for Civil Rights and Economic Justice. The award, which commemorates...06/17/16
Holy Cross Graduate Drafted to the Boston Red Sox For the Second Year in a Row
MLB.com, ESPN, CBS Boston, Boston Herald, Boston Globe, Telegram & Gazette
Dominic Lovullo, a history and political science major who graduated from Holy Cross this past May, was selected to play with the Boston Red Sox. Media outlets including...