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.
Congressman McGovern Recognizes Chick Weiss’ Career Before Congress
In his recent remarks to Congress, Rep. Jim McGovern honored Charles “Chick” Weiss for his 41-year career at College of the Holy Cross and his contributions to the City...07/18/16
Holy Cross Professor Helps Demystify How America Views Medicated Children
Pacific Standard | The Week
The Pacific Standard picked the brain of Ara Francis, assistant professor of sociology at the College of the Holy Cross, to myth-bust the way America understands...07/11/16
Holy Cross Alumna Making Headlines for her Fight Against Tobacco
Forbes | Yahoo! Finance | Christian Science Monitor |Drug Store News
For Eileen Howard Boone ’86, “the social responsibility part of corporate leadership started as a side job and blossomed into an entire career,” according to a recent...