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.
‘A Sea of Change in Admissions?’
Insider Higher Ed
The College of the Holy Cross is one of 80 colleges and universities that have joined the Coalition for Access, Affordability, and Success. The Coalition is dedicated to...09/30/15
Holy Cross Featured in U.S. News & World Report College Road Trip
U.S. News & World Report
U.S. News & World Report’s “Central Massachusetts College Road Trip” visited the College of the Holy Cross Campus last September. The article, excerpted from U.S....09/23/15
Holy Cross Community Members Make Headlines During Pope Francis’ U.S. Visit
New York Times | Associated Press | NECN | WBZ TV | Fox 25 | WCVB TV | Huffington Post | Fortune Magazine
With Pope Francis arriving in the U.S., members of the College of the Holy Cross community have been busy sharing their stories and expertise about the first Jesuit pontiff...