Williams Faculty Lecture to Address Financial Crises

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WILLIAMSTOWN - Professor of economics Gerard Caprio will deliver the third lecture of the annual Williams College Faculty Lecture Series on Thursday, Feb. 21.

The lecture, "Financial Crises: A Hardy Perennial," will take place at 4 p.m. in Wege Auditorium on the campus. A reception will follow. The lecture is free and the public is invited to attend.

Caprio's talk will examine the field the finance, its propensity to crisis, what government should do when crises occur and how might they be prevented or made less painful. He will touch on the current subprime mortgage crisis.

He is the author or co-editor of a number of publications, including "Rethinking Bank Regulation: Til Angels Govern," "Financial Crises: Lessons from the Past, Preparation for the Future" and "Financial Reform: Theory and Experience."

Caprio has worked for the World Bank in Washington, D.C.; JP Morgan, the International Monetary Fund and the Federal Reserve Board.

He teaches "Money and Banking" and "Financial History" at Williams. He also has taught at George Washington University.

He received his bachelor's degree in economics from Williams and his doctorate from the University of Michigan.

Next week, Associate Professor of Psychology Safa Zaki will deliver a lecture on "Modeling the Mind: What Clues Can Be Gleaned from Amnesia." The event will take place Thursday, Feb. 28, at 4 p.m.
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Williamstown Board Opts to Negotiate with College on Water St. Lot

By Stephen DravisiBerkshires Staff

Newly elected board member Nate Budington, far left, participates in his first in-person meeting along with, from left, Matt Neely, Stephanie Boyd, Peter Beck, Shana Dixon and Town Manager Robert Menicocci.
WILLIAMSTOWN, Mass. — The Select Board on Monday decided to enter into negotiations with Williams College on the sale of the vacant town-owned lot at 59 Water St.
 
But the board members made it clear that the college's proposal to acquire the lot is a starting point, not a final deal that the elected officials would accept.
 
"For the sake of continued conversation, I'm in favor of [awarding Williams the site], but if this process wasn't continued with the opportunity for further negotiation, I wouldn't vote to continue this," Peter Beck said. "I think that next step is necessary for us to get to a yes on this."
 
"I think there's wide agreement on that," Matthew Neely said just before the 5-0 vote to enter talks with the college.
 
Williams was the sole respondent to a town-issued request for proposals to develop the former town garage site, currently a dirt lot.
 
The college's stated intent is to build a new Facilities office and create up to 170 parking spaces at 59 Water Street. That use will allow the college to redevelop the current Facilities building site and parking lot as part of a reconception of the school's indoor athletic and recreation facilities.
 
Under the terms of the RFP, the college's proposal was subjected to review by an ad hoc advisory committee to the town manager, who brought the question to the Select Board. That board will have the final say on any purchase and sales agreement.
 
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