Experience Stern | News & Events

Excerpt from Treasury & Risk -- "As with any developing country, risks remain. David Backus, a professor at New York University’s Stern School of Business, says that unlike neighboring countries, however, Brazil’s political system has remained stable."

Excerpt from WFAE.org -- "NYU Stern finance professor Viral Acharya says Bank of America is now the weakest of the big banks and the most 'systemically risky.'"

Excerpt from Xinhua News -- "You never certain about these things. But there are some smart people whose opinions I respect on this that are saying the likelihood is substantial. So at this point, the odds are about fifty fifty that we could go into another recession because of all these weakness in economy. We can't use monetary policy. We can't use fiscal policy. Maybe exports can help but that takes a while."

Excerpt from Foreign Policy -- "At this point there is serious risk of a double-dip recession in the U.S. and most other advanced economies."

Excerpt from Proactive Investors UK -- "According to Nouriel Roubini, there is 70% chance of Italy seeking aid."

Excerpt from Bloomberg -- "President Barack Obama, former House Speaker Newt Gingrich and Roubini Global Economics LLC co-founder Nouriel Roubini speak about data showing U.S. payrolls rose by 117,000 workers in July. Former Federal Reserve Governor Randall Kroszner, Barclays Capital's Dean Maki, Cumberland Advisors' Robert Eisenbeis, White House economist Dean Maki and Tokyo-Mitsubishi UFJ's Chris Rupkey also comment."  Additional coverage appeared on Bloomberg and The Telegraph.

Excerpt from Reuters -- "There is an extremely elevated degree of anxiety that has dominated recently, both the corporate and the consumer sectors. This tends to aggravate what started initially as a moderate slowdown in economic activity in the spring."  Additional coverage appeared on MSNBC.

Excerpt from Seeking Alpha -- "What does it take to be number one? Two is not a winner. Three no one remembers. Bank of America is number one on the Bank Loser Board. The Loser Board is created by NYU Stern."

Excerpt from CNBC -- "Worries about default spooking investors, sending european shares plummeting to an 11-month low and as tensions grow abroad, recession jitters escalate here at home. The bears are out. Is your money safe?"  Additional coverage appeared on Capital.gr and Bloomberg.

Excerpt from Benzinga.com -- "Before you fire off a hot email defending the wonderfulness of "free" trade (there is no "free" trade, there are only trade policies with implicit incentives), please read Globalization and Unemployment The impact of globalization on income and employment by Nobel laureate Michael Spence."  Additional coverage appeared on Of Two Minds.

Excerpt from The Jerusalem Post -- "A related, more subtle possibility, analyzed in detail in a famous paper by economist Michael Spence decades ago, is that college is a way of proving to employers how smart and capable you are."

Excerpt from MoneyShow.com -- "Bernstein pointed out that “the S&P has been outperforming BRICs for the last three and a half years,” although the broader emerging-markets index is slightly ahead of the S&P for that period."  Additional coverage appeared on Seeking Alpha.

Excerpt from CNBC -- "I think investors got caught up in Washington's political rhetoric. They just decided the rules of economics don't apply anymore. You may not have liked how the government was spending money, but it was still spending and that's still stimulus," said Richard Bernstein.  Additional coverage appeared in The Wall Street Journal.

Excerpt from The Globe and Mail -- "The Stanford economist Paul Romer -- whose seminal work on the economics of technical change inspired what came to be known as endogenous growth theory -- says that when he came to economics from physics, he was puzzled by what economists called 'production'."

Excerpt from TheAge.com -- "[Michael Spence's] key insight about China is striking - that the sudden burst of growth that has revolutionised global economics and politics was the result of a conscious decision made by just a handful of people."  Additional coverage appeared on NineMSN.com.

Excerpt from The Sydney Morning Herald -- ''China is starting to internalise these things,'' Professor Spence said. "They are coming to realise that they will soon be big enough economically to put pressure on the entire globe's environment."

Excerpt from Bloomberg -- "Martin Feldstein, an economics professor at Harvard University, Bill Gross, portfolio manager at Pacific Investment Management Co., Lawrence White, economics professor at New York University's Stern School of Business, Hugh Johnson, chairman of Hugh Johnson Advisors LLC, and Barton Biggs, managing partner and co-founder of Traxis Partners LP, talk about the risk of another U.S. recession."

Excerpt from Sydney Morning Herald -- "'How long have they got? How much longer can China's extraordinary explosion of economic growth continue,' I ask Michael Spence down a phone line to Italy, where he lives six months of the year. 'I think the answer is something like two decades, in the later part of that they will start to slow down,' he says."

Excerpt from The Wall Street Journal -- "Paul Romer, a New York University economist who has spent his career thinking about economic growth, calls this time the "Great Distress," a period of pain that he predicts will last five or even 10 years."  Additional coverage appeared in The Atlantic.

Excerpt from Forbes -- "Today, on the heels of currency market intervention by Japan and Switzerland, Roubini predicted that a third round of quantitative easing here in the United States, tweeting, “QE3 started in Japan & Switzerland via fx action &/or monetary easing. Fed will eventually get to QE3 but it will be too little too late.”

Excerpt from FINS Finance -- "Batia Wiesenfeld, a management professor at New York University's Stern School of Business, said banks and brokerages tend to let months pass between when they announce layoffs and when they cut workers, a tedious period that cultivates brain-drain."  Additional coverage appeared on Glassdoor.com.

Excerpt from GlobalResearch.ca -- "[President Obama] was in a position to change the terms of the policy discussion by appointing advisors with a Keynesian background. Economists like Joseph Stiglitz, Paul Krugman, Nouriel Roubini and James K. Galbraith were willing to take on this responsibility."

Excerpt from a Financial Times blog -- "Many economists believe that UK gilt rates have not only fallen because of Britain’s economic relative credibility compared to certain eurozone nations and the USA. (Nouriel Roubini has dubbed it 'a beauty contest about the least ugly')."  Additional coverage appeared in The Independent.

Excerpt from BVWire News -- "The US will not default next week or in the near future, even if there is no debt ceiling legislation passed by August 2. However, the damage has already have been done."

Excerpt from Education Letter -- "More than 6,500 businesses worldwide have accelerated their business performance with Socialtext, including Egon Zehnder, Getty Images, Symantec, Meredith Corporation, NYU Stern, OSIsoft, and Epitaph Records."