Monthly Archives: February 2009

SAVING BRUTALIST BUILDINGS—PAUL RUDOLPH.

Posted on February 28, 2009 by Philip

SAVING BRUTALIST BUILDINGS—PAUL RUDOLPH. It seems strange that buildings that were built only fifty years ago are now threatened by the wrecking ball, but technological change—think of electrical requirements, for example—has been enormous. Another reason is the unpopularity of some … Continue reading →

Posted in Architecture | 2 Comments

LESSONS: BEWARE USING ONLY ONE NUMBER.

Posted on February 27, 2009 by Philip

LESSONS: BEWARE USING ONLY ONE NUMBER. Kids, I keep trying to identify lessons from the financial crisis that will apply down the road. Some of the particular follies that have happened will never be seen again; they will be replaced … Continue reading →

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WHAT WOULD BAGEHOT SAY ABOUT TOXIC ASSETS?

Posted on February 27, 2009 by Philip

WHAT WOULD BAGEHOT SAY ABOUT TOXIC ASSETS? I have posted before here and here on what Walter Bagehot had to say over a hundred years ago about the current financial crisis. Christopher Caldwell in the Financial Times had this quote … Continue reading →

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THE EQUATION THAT LED TO A LOT OF TOXIC ASSETS.

Posted on February 26, 2009 by Philip

THE EQUATION THAT LED TO A LOT OF TOXIC ASSETS. I have posted previously that a lot of the financial crisis seems to come from intellectual mistakes by brilliant people. Felix Salmon has an article in Wired which prints a … Continue reading →

Posted in Economics | 1 Comment

LOTS OF TOXIC ASSETS.

Posted on February 25, 2009 by Philip

LOTS OF TOXIC ASSETS. This quote from Lloyd Blankfein, the chief executive of Goldman Sachs, in the Financial Times for February 9 gives an idea of the scale of the toxic asset problem: “In January 2008, there were 12 triple … Continue reading →

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“ONE MORTGAGE AT A TIME.”

Posted on February 25, 2009 by Philip

“ONE MORTGAGE AT A TIME.” Professor Alan Blinder wrote in the Wall Street Journal on February 4 that “There are many foreclosure-mitigation plans.” He concluded “I fear that smart refinancing will have to be done one mortgage at a time.” … Continue reading →

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“PRODUCE THE NOTE”—LOOKING FOR THE BEANS SO YOU CAN COUNT THEM, REVISITED.

Posted on February 25, 2009 by Philip

“PRODUCE THE NOTE”–LOOKING FOR THE BEANS SO YOU CAN COUNT THEM, REVISITED. I posted here about the difficulties that the people trying to recover assets for Lehman Brothers were having in locating those assets. Rights in a mortgage might have … Continue reading →

Posted in Economics | 3 Comments

HOW TO SPEND $100,000,000.

Posted on February 24, 2009 by Philip

HOW TO SPEND $100,000,000. I spoke recently with a friend who works for a federal agency that received a large amount of money under the stimulus bill (I chose $100,000,000 to give you an idea of the number of zeroes … Continue reading →

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THE RETURN OF THE SEMI-COLON?

Posted on February 24, 2009 by Philip

THE RETURN OF THE SEMI-COLON? I posted here about the passions aroused by the semi-colon, including a duel that was fought over whether to use a colon or a semi-colon. In yesterday Financial Times, Lucy Kellaway celebrated over receiving a … Continue reading →

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ROMAN FOOD AND ROMAN NAMES.

Posted on February 23, 2009 by Philip

ROMAN FOOD AND ROMAN NAMES. I had known that Cicero’s family name came from the Latin word for chickpea. While looking at KITCHEN MYSTERIES, a book on the science of cooking by Herve This, I learned that other distinguished Roman … Continue reading →

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