BY JONATHAN PETERS

In print | Published October 2, 2008

On September 16, the Federal Reserve bailed out insurance giant AIG. The Crash Bash Party fell upon Swarthmore society September 20. Could there be a connection? “We felt that the Crash Bash served as a warning sign for times ahead and for their probable effect on campus social life,” co-organizer of the bash Blaine O’Neill ’11 said. In the midst of what most are now calling the greatest economic turmoil since the Great Depression, what is Swarthmore doing to cope?

Whether or not this is a Depression yet, I feel something definitively Depressive in the air. Conversations about the future have grown darker, less optimistic. Before we investigate further, let us take a look back at how Swarthmore dealt with the last Great Depression. I did some research in the Phoenix archive room about the health of the school and found it to be pretty strong. In January 1931, Swarthmore had “The Largest Enrollment in History,” according to one headline — 390 students crammed into a much smaller school. As for the campus culture, no surprises there; left-leaning journalist Paul Blanchard spoke here in 1933, and according to Phoenix headlines, “Socialism is Necessary.” Yet peppered throughout older issues of The Phoenix are the same Swarthmore concerns, notices for lectures, sororities, package vacations, honors exams and Prohibition raids. Ah, Prohibition.

But back to the future. Some feel the same chill I do, but some do not. Elizabeth Crampton ’09 said, “I think that I haven’t exactly observed anything like that at Swarthmore … I haven’t heard anyone say, ‘I can’t buy this thing right now,’ mostly because I don’t see people using cash on campus very often.” On the other hand, Glenn Stott ’12 said that “[the crisis] is on the tip of everyone’s tongues, and yes, I think it will affect the way I do things.” Martha Townsend at the bookstore has not yet observed a change in consumption habits. “What people buy here is necessary, you know, books. I hope students find soap and toothpaste necessary.” Charlie Decker ’09, co-host of a program on WSRN “R3 to Center City” that encourages Swatties to attend performances said, “I think if anything, people will go to Philly less. Swarthmore could be even more insular.” But most Swatties I talked to seemed uncannily reticent about this topic.

I spoke with Laura Talbot at the financial aid office, who assured me that there will be no campus job lay-offs. She also said, “If families need more help there will be more help. Swarthmore has always been there if a family’s financial situation changes.” It is good to know that for the immediate future, not much will change.

Obviously, not everyone agrees this is a crisis. I spoke with Matthew Tilghman ’09, an economics major and my freshman year roommate. He assured me that “U.S. GDP growth is going to be positive for this year. It’s not even a depression, I’m not going to call it that. Yes. There may be a recession.” But of course, for those looking to work in finance, “people’s hopes are not so high.” Matthew may even be off to London next year, which might offer more jobs.

So, has anything changed? I think back to the Crash Bash. In a slightly portentous move, O’Neill and company have already made (tentative) plans for a sequel, the “Brother, Can You Spare Me A Dime?” party. However inevitable this party may be, let’s hope for the “Good Times Are Here Again” equivalent.

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