Month: August, 2008

How a slum dies: Part 2, in the 21st century

29 August, 2008 (08:19) | Cities, History, Slums, United Kingdom | No comments

[Continued from yesterday's Part 1.]
 
Yesterday’s essay inspired by a provocative new book, The Blackest Streets: The Life and Death of a Victorian Slum by Sarah Wise, asked how and why a slum dies, based on the gradual and not—so-gradual elimination of London’s 1880 Old Nichol.
 

London, 1880
 
In today’s developed nations, slums are where, as the Times’ [...]

How a slum dies: Part 1, in the 19th century

28 August, 2008 (07:24) | Cities, History, Slums, United Kingdom | 1 comment

 
Where do slums go to die?  And what kills them?
 
That question is raised by a provocative new book, The Blackest Streets: The Life and Death of a Victorian Slum by Sarah Wise.  Although not yet published in the States, and hence unavailable to Your Humble Blogger, it’s the subject of an interesting review in The [...]

The unequal struggle: Part 2, unlimited downside and limited upside

27 August, 2008 (08:22) | Capital markets, Finance, Policy, Subprime, Theory | No comments

[Continued from yesterday's Part 1.]
  
“A short option position with unlimited downside and limited upside”
– Anonymous risk manager, describing the career implications of rejecting a deal
 
Yesterday’s post featured the anonymous confessions, published in The Economist, of a risk manager giving a fear’s-eye view of recent turmoil in the capital markets.  They’d had a nasty scare in [...]

The unequal struggle: Part 1, risk and reward

26 August, 2008 (08:27) | Capital markets, Finance, Policy, Subprime, Theory | 1 comment

                              “A short option position with unlimited downside and limited upside”
– Anonymous risk manager, describing the career implications of rejecting a deal
 
A few weeks back, The Economist published a truly remarkable confession by a (prudently) anonymous risk manager from a major financial institution, explaining in candid detail precisely how and why the risk-management function is structurally [...]

Subsidy portage, proof of concept

25 August, 2008 (09:34) | Configuration, Henry Hudson, Housing, Innovations, Markets, Tenure, Theory | No comments

If you do something innovative, you should win an award, no? 

I’d like to thank the Academy for creating awards so I can win one!
 
Henry Hudson Townhouses, the property so badly built it had to go somewhere to die, has been reborn as Village Green Apartments, and is up for Best Preservation of the Year [...]