Burzycki Speaks on Credit Crisis and Recession

Are we on the brink of the Great Depression of 2008? Are we experiencing a new economic world order, or is history just repeating itself? Thomas Burzycki, head of business curricula at Holy Cross College, spoke on these topics November 5th to a well attended public lecture in the Driscoll Auditorium.

In October, 2007 the Dow Jones Industrial average reached 14,164 points in a relatively organized and predictable market. The question for most investors was how long it would take to reach 20,000. One year later, after losing almost 50% of the value in the market, it suffers 500 to 1,000 point wild fluctuations on a daily basis.

Some of the world’s largest financial institutions have either gone under or were forced to be sold. How could these seemingly invincible businesses falter and fail so quickly? What has happened and what should we expect to happen next? Tom Burzycki discussed these questions and more. He reviewed causes, how they interlink, and what history reveals in comparison. He also spent time answering audience questions.

Tom has taught at Holy Cross College for five years after retiring from a 35-year career as an executive in the commercial business world. His last position was president of an international musical instrument manufacturing conglomerate that was listed on the New York Stock Exchange.

Included in the awards that he has received are the Indiana Governor’s Sagamore of the Wabash Outstanding Businessman’s Award, the World Trade Club International Business Person of the Year Award, and the Colonel Samuel Rosenbaum Memorial Award of the National Guild of Community Schools for the Arts Business Person. He has also served on many national boards of directors and advisory councils. Professor Burzycki is a Certified Public Accountant, holds an MBA from DePaul University in Finance, and a BA in accounting from Loyola University.