The Justice

Media Credit: David Brown Deans Lisa Lynch and Bruce Magid speak at the Student Union- and Office of Communications-sponsored event on Sept. 24.

About one hundred and fifty students attended the "Financial Crises at Home and Abroad-Imagining the next President's agenda" forum to discuss the current state of the United States economy on Sept. 24, according to Student Union Director of Communications Jamie Ansorge '09.

The event, sponsored by the Student Union and the Office of Communications, featured Dean Bruce Magid of the Brandeis International Business School and Dean Lisa Lynch of the Heller School for Social Policy and Management as they discussed the current state of the United States economy as part of the Brandeis University "Spotlight on Economic Distress."

The goal of the hour-and-a-half forum was to have a better-informed student body by providing insight into the origins of the economic crisis by discussing how the crisis will affect the United States domestically and abroad in the future and addressing the challenges the next president of the United States will face in order to facilitate the economic recovery.

In an e-mail to the Justice, Daniel Acheampong '10 wrote, "[The session] was really informative and appropriate, especially at a time when the economic situation is highly affecting everyone in some regard. [The panelists] provided an in-depth analysis to explain why the economy is in a downfall, the future of the economy, and the long/short-term benefits and consequences of government intervention."

Lynch, currently chair of the Board of Directors of the Boston Federal Reserve and former chief economist at the Department of Labor under the Clinton administration, explained that the significant signs of the economic crisis emerged in February and March of 2007. At this point in time, the prices of homes began to decrease dramatically. Additionally, as a result of the price decrease in homes the default rate of sub-prime mortgages increased.

Lynch also discussed the Bush administration's proposed $700 billion rescue plan. She explained that there would be "opportunity cost" associated with spending that amount of money to assist with the economic recovery because spending that much money will have an impact on the next president's financial plans.

Continued...

Page 1 of 2 next >

Article Tools