
Latest on Berkeley Art Museum, from Nicolai Ouroussoff, the NYT architecture critic. Interesting part is on page two, where practical concerns from the client (the museum) clash with the vision of the architect. Ouroussoff sides with the architect.
(muttered faintly under one's breath)
Autorickshaws in Chennai : autorickshaws in Delhi :: Asteroids : SinistarFor those too young to remember, or who were busy with an actual life in 1982 to have been playing Sinistar at their local Golfland, I've provided a helpful visual translation.
When the guy got to the part of his speech about [his company's] subprime-loan portfolio, he claimed to be expecting a modest default rate of 5 percent. Eisman raised his hand. Moses and Daniel sank into their chairs. “It wasn’t a Q&A,” says Moses. “The guy was giving a speech. He sees Steve’s hand and says, ‘Yes?’”The article ends with Lewis sitting down for lunch with former Salomon Brothers CEO and "King of Wall Street" John Gutfreund, who has still not exactly forgiven him for Liar's Poker, what he calls "your fucking book".
“Would you say that 5 percent is a probability or a possibility?” Eisman asked.
A probability, said the C.E.O., and he continued his speech.
Eisman had his hand up in the air again, waving it around. ... He had his thumb and index finger in a big circle. ...
“Yes?” the C.E.O. said, obviously irritated. “Is that another question?”
“No,” said Eisman. “It’s a zero. There is zero probability that your default rate will be 5 percent.” The losses on subprime loans would be much, much greater. Before the guy could reply, Eisman’s cell phone rang. Instead of shutting it off, Eisman reached into his pocket and answered it. “Excuse me,” he said, standing up. “But I need to take this call.” And with that, he walked out.
[W]ith a suddenness that has taken us all by surprise, the era of cheap and abundant food appears to be drawing to a close. What this means is that you, like so many other leaders through history, will find yourself confronting the fact — so easy to overlook these past few years — that the health of a nation’s food system is a critical issue of national security. Food is about to demand your attention.Of course, these "open letters" are merely literary devices that allow a writer to use prescriptive (as opposed to descriptive) language. They are designed to provoke discussion among a publication's readers, and there is never an expectation that the intended (or imagined) recipient actually reads these things.
I was just reading an article in the New York Times by Michael Pollen [sic] about food and the fact that our entire agricultural system is built on cheap oil. As a consequence, our agriculture sector actually is contributing more greenhouse gases than our transportation sector. And in the mean time, it's creating monocultures that are vulnerable to national security threats, are now vulnerable to sky-high food prices or crashes in food prices, huge swings in commodity prices, and are partly responsible for the explosion in our healthcare costs because they're contributing to type 2 diabetes, stroke and heart disease, obesity, all the things that are driving our huge explosion in healthcare costs.
(Via Kottke.)