| Participants Dr. Carol Alonso '63 Retired Assistant Associate Director, Lawrence Livermore National Mr. William S. Demchak '84 Managing Director, JP MorganChase Securities, Inc. Mr. Martin Pfinsgraff '77 Chief Financial Officer, iJet Travel Intelligence, Inc Dr. Roger W. Tufts '76 Sr. Economic Advisor, Department of The Treasury |
April 22nd, 2002 |
| "The American economy is becoming more and more integrated, and that integration depends on our transportation and telecommunication networks. Terrorists could interrupt delivery by striking at vulnerable points; creating more redundancies and protections would cost the economy, but would insure against catastrophic breakdowns." |
Dr. Carol Alonso '63 |
| "The U.S. economy had weakened considerably before the September 11 events, and the terrorist attacks merely accelerated the economy's decline. However, the economic decline could have been worse were it not for the patriotism of Americans, who continued to hold on to their stocks rather than selling them." |
Mr. William S. Demchak '84 |
Mr. Martin Pfinsgraff '77 |
"September 11 has made companies aware of their vulnerability. Security and crisis management planning have taken on new meaning, and companies are responding by allocating resources to previously lower priority activities, including the installation of security equipment, hiring of security experts, and the acquisition of intelligence information." |
| "The attacks immediately affected consumer and producer confidence. But although the ripple effects were pronounced and adversely affected the economy for months, those effects have moderated. While they worsened the already weakened economy, the aftershocks are not the principal factors in today's macroeconomic forecasts." |  Dr. Roger W. Tufts '76 Sr. Economic Advisor, Department of The Treasury |
