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A look at the nation's financial crisis

Oct. 30, 2008

KALAMAZOO--A team of Western Michigan University economics and financial experts will tackle the nation's financial crisis and its impact in a panel discussion on Wednesday, Nov. 5, on the WMU campus.

The event, "The Financial Meltdown and Its Aftermath: Causes, Consequences and Policy Options," is being presented by the WMU Department of Economics. The discussion begins at 3 p.m. in 3508 Knauss Hall and is free and open to the public.

Panelists include Drs. Jon Neill and Susan Pozo, both professors of economics, Dr. James Hueng, associate professor of economics, and Dr. Christopher Korth, professor of finance and commercial law.

Speakers will talk about the causes of the crisis, its consequences for the economy and the policies being used to deal with it. The discussion will provide information to the community about the current state of the economy and provide a forum in which to thoughtfully consider the ramifications of the crisis.

"The current state of the country's capital markets is reminiscent of the condition of those markets prior to the Great Depression, and fear that the crisis we are facing today will have a similar effect on the economy is widespread," says Neill, who is organizing the event.

"However," Neill adds, paraphrasing Franklin D. Roosevelt, "the world today is a much different place than it was in 1929, and while there is real reason for concern, perhaps what we should fear most is fear itself."

Media contact: Mark Schwerin, (269) 387-8400, mark.schwerin@wmich.edu

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