A year after the economic crisis shifted into high gear, financial scholars and policymakers gathered at Georgetown for the Global Finance Conference presented by the McDonough School of Business and the Financial Times.
Larry Summers, economist and the Director of the White House's National Economic Council for President Barack Obama, tells the audience that his concerns remain in commercial real estate and that the availability of credit and capital remain tight, but says there are signs of economic normalization.
"We know that our economy will be stronger than ever if we commit ourselves to the work that needs to done today," says Summers. "It would be irresponsible for us to not learn the lessons of what is happening."
John J. DeGioia
Since graduating from Georgetown University in 1979, John J. DeGioia has served both as a senior administrator and as a faculty member at the school. On July 1, 2001, he became Georgetown's 48th president.
Dr. DeGioia is a professorial lecturer in the Department of Philosophy. He earned a bachelor's degree in English from Georgetown University in 1979 and his PhD in Philosophy from the University in 1995. He has most recently taught "Ethics and Global Development," "Human Rights: A Culture in Crisis," and a seminar on "Ways of Knowing."
Prior to his appointment as president, Dr. DeGioia held a variety of senior administrative positions at Georgetown, including senior vice president, responsible for university-wide operations, and dean of student affairs. In 2004, he was presented with a Lifetime Achievement Award for Excellence in Academia from the Sons of Italy.
Lawrence H. Summers is the Charles W. Eliot University Professor at Harvard University, where he is also president emeritus. During the past two decades, he has served in a series of senior policy positions, including vice president of development economics and chief economist of the World Bank, undersecretary of the US Treasury for international affairs, director of the National Economic Council for the Obama administration from 2009 to 2011, and secretary of the US Treasury from 1999 to 2001. He is the recipient of the John Bates Clark Medal, given every two years to the outstanding American economist under the age of 40, and the National Science Foundation’s Alan T. Waterman Award for outstanding scientific achievement. He is a member of the National Academy of Sciences.
Larry Summers, Director of the National Economic Council, addresses accusations made in ads funded by the Chamber of Commerce attacking the White House's proposed agency to protect consumer rights.
Summers compares the advertisements to the "death panel ads" produced by opponents of healthcare reform. "Those with an argument, make it," he says. "Those without a good argument, try to scare people."