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 Planning Board Narrowing in on Subdivision Bylaw Changes

By Stephen DravisiBerkshires Staff
WILLIAMSTOWN, Mass. — The Planning Board late last month discussed specific features of what it plans to pass as a new subdivision control bylaw this year.
 
The board long has discussed the complex set of regulations as being out of date and cumbersome to both potential developers and the board itself, which has needed to hear requests for waivers of outdated rules for the handful of residential subdivisions that have been proposed in town in recent years.
 
This spring, the town engaged consultants from Northampton's Dodson and Flinker Landscape Architecture and Planning to go through the existing bylaw, compare it to more contemporary regulations in other communities and help craft a revised bylaw.
 
Unlike the zoning bylaw, where amendments require approval of town meeting, the subdivision control bylaw is a creation of the Planning Board, which can make changes on its own after a public hearing process it hopes to complete this year.
 
At a special Planning Board meeting on May 26, Dillon Sussman of Dodson and Flinker and his colleagues walked the board through a dozen different decision points that the board must resolve — either by leaving the bylaw as is or making a change — and offered suggestions based on best practices.
 
All of the issues are technical and ranged from the fundamental, like how the bylaw will define types of subdivisions, to the highly specific, like what turning radii will be required in new streets that are constructed to serve planned developments.
 
One example of a topic that came up in the recent approval of a four-home subdivision off Summer Street is stormwater management.
 
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