‘Concerns about impact of government shutdown growing’

Channel 3/NECN

October 7th, 2013 by 

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.

| More

Comments are closed.

Sort By:
or
05/04/15 Holy Cross Commencement Speaker Bryan Stevenson Making Headlines Around the Country
04/30/15 Media Turn to Religious Studies Prof. to Make Sense of Tragedy in Nepal
04/29/15 The Clash of the Crusaders: An Ancient Greek Spring Weekend 2015
04/29/15 ‘Mentoring Scholars, Not Just Filling Sections’
See All
See All

Featured Videos

See video
Video: Students Celebrate Purple Pride Day

Watch Video >
See video
Video: Alumni Couples Share Their Tales of Love

Watch Video >
See video
Holy Cross Launches Groundbreaking Web Resource for Exploring Catholic Practice Around the World

Watch Video >
More

What’s Happening on Campus

05/05/2015

34th Annual Biology Undergraduate Research Symposium

See More >
05/06/2015

Introducing the Fall 2015 ATB Artists-in-Residence: Reception & Skype Conversation with Troika Ranch

See More >
05/06/2015

Midnight Breakfast

See More >
05/07/2015

Midnight Breakfast

See More >
More

Holy Cross in the News

05/04/15

Holy Cross Commencement Speaker Bryan Stevenson Making Headlines Around the Country

Vanity Fair | TIME | CNN | New York Times | Los Angeles Times | Washington Post

“Justice needs champions, and Bryan Stevenson is such a champion,” wrote South African civil rights activist, retired bishop and Nobel Peace Prize recipient Desmond Tutu,...

04/30/15

Media Turn to Religious Studies Prof. to Make Sense of Tragedy in Nepal

CNN | WBZ Radio | Yahoo News! Canada | Telegram & Gazette

Todd Lewis, professor of religious studies at the College of Holy Cross and a leading scholar in Buddhism, Hinduism, and East Asian religions, recently spoke to multiple news...

04/29/15

‘Mentoring Scholars, Not Just Filling Sections’

Inside Higher Ed

In a recent feature story, Inside Higher Ed highlights the College of the Holy Cross for the success of its faculty mentorship program.  According to the article, both...