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Three prominent experts in finance delved into the complexities of sovereign debt and shared their perspectives on the impact of the U.S. Central Bank's intent to unwind its economic stimulus efforts during the annual summit sponsored by the Rutgers Master of Quantitative Finance Program.

The panel of speakers, Edward Altman, a professor of finance at New York University's Stern School of Business, Adam Ashcraft, senior vice president in financial risk management at the Federal Reserve Bank of New York, and Andrew Huszar, a senior fellow at Rutgers Business School who managed the Federal Reserve's $1.25 trillion mortgage-backed security purchase program in 2009, were guided through a provocative discussion by moderator Tom Keene, host of "Bloomberg Surveillance."

The talk opened with some background about sovereign debt and the imperfect science of predicting the probability of sovereign risk and default despite past crises in Asia and parts of Europe.

"With his focus now fixed squarely on Brazil, Altman suggested that a new metric - the health of the private sector - might be an appropriate one to add to the calculation. "I say, with some humility, that models don't always work," said Altman who has helped to build models for such things predicting corporate distress.

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Rutgers Business School students capture third place in national healthcare case competition

Students from Rutgers Business School's MBA Pharmaceutical Management Program captured third place in the Kellogg School of Management's prestigious biotech and healthcare case competition, securing a spot among the leading business schools in the country.

The Rutgers team - made up of second-year MBA students Sarah Kruse, Rema Bitar, Mitchell Ezra, Michelle Finn and Denise Kubata - placed with teams from the Haas School of Business at the University of California, Berkeley and the University of Chicago's Booth School of Business. Haas took first place for the third year in a row while Booth won second place.

"There are things we could have done better and there are things we learned from the experience," Kruse said, "but it's great to be on that list (of winners)."

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