Month: March, 2009

The AIG Hearings: Part 2, “… Uh, who’s gonna defuse all these bombs?”

24 March, 2009 (09:59) | AIG, CDCs, Contracts, Global news, Subprime, US News | No comments

[Continued from yesterday's Part 1.]
 
It takes two whole days’ worth of posts to document, in excruciating detail, just how asinine was the grandstanding taking place in Washington last week as first Ed Liddy and then every TARP recipient was skewered by an outraged Congressional mob. 
 

Citizens united for shibboleths!
 
As I keep listing the wrongheadedness, I’ve [...]

The AIG Hearings: Part 1, “Now that we’ve killed all the bomb-makers …”

23 March, 2009 (09:45) | AIG, CDCs, Contracts, Global news, Subprime, US News | No comments

“Now that we’ve killed all the bomb-makers, uh, who’s gonna defuse all these bombs?”
 

“Glad we killed all the guys who wired this together … oh, wait!”
 
What an idiotic week we have just seen in American politics, involving a hearing that was half circus and half show trial, culminating with probably the dumbest piece of tax [...]

When and where modern housing was born

20 March, 2009 (12:53) | Configuration, History, Infrastructure, Innovations, New York City, Tenure, Urbanization | No comments

What defines modern housing?  Tour enough castles, abbeys, and stately homes and it isn’t hard to identify the five critical features:
 

State of the art, thirteenth century
 
1. Central heating rather than fireplaces
2. Running water instead of basins and pitchers
3. Flush toilet and sewer instead of chamber pots and outhouses
4. Bright lighting instead of candles
5. Electricity for [...]

Month in Review, February 2009

19 March, 2009 (09:55) | Admin, Month in review | No comments

[Previous Month In Review available here: Jan 09.]
 
[A complete set of 2008 Months In Review available here: Dec 08 Part 1, Dec 08 Part 2, Nov 08, Oct 08 Sep 08, Aug 08, Jul 08, Jun 08, May 08, Apr 08, Mar 08, Feb 08, Jan 08]
 
Amid all the hoopla regarding capital markets and houses [...]

Rules you don’t enforce are worse than useless

18 March, 2009 (15:03) | Essential posts, Policy, Primer Posts, Regulation, Theory | No comments

Just as fuzzy boundaries are bad boundaries, rules that are not enforced are worse than useless.  For they give some people the illusion of order, while others know the reality of disorder.
 
Which led me, over the years, to expound this simple principle:
 
Rules you don’t enforce are worse than useless
 

I know alcohol’s Prohibited, officer, but can’t [...]