Posts tagged as Schemes
How to Steal Money from Manhattan, with Columbia's Pro-Biz Think Tank
The Center for Urban Real Estate of the Columbia’s Graduate School of Architecture, Planning and Preservation sounds like such a refined academic institution! But apparently it's pretty much the Heritage Foundation of land use. The direct of the "Center" (funded in part by your developing friends at the Durst Organization!) is a former executive vice president at your friendly local developer the Related Companies, where he still consults. (Just to pick one: guess who's responsible for the disgusting Gwathmey building on Astor Place? Yes.) And so this oh-so-objective piece in the Times on the Center and, I paraphrase, "wouldn't it be hilarious if they connected Governors Island to Manhattan with a landfill bridge" and "wouldn't it be neat if they rezoned to basically do away with the guiding principles of air rights in Manhattan," is an exceptional launching pad for the Center's pro-developer "ideas." All this is cast as how it would make the City money. (Landfilling around Governors Island would "generate $16.7 billion in revenue for the city" over 20 to 30 years is their claim.) This would be the next Westway if it wasn't pretty much obviously untenable. Points for dreaming big (business) though!
Korea's Narc Economy is Perfect for See-Something, Say-Something USA
"Snitching for pay has become especially popular since the world’s economic troubles slowed South Korea’s powerful economy. Paparazzi say most of their ranks are people who have lost their jobs in the downturn and are drawn by media reports of fellow Koreans making tens of thousands of dollars a year reporting crimes." READ MORE
Why Do Our Diplomats Keep All the Good Secrets to Themselves?
There is so much gold still to be had in the WikiLeaks cables. Such as this, found today: "Embassy officers do not reach out to [Allen] Stanford because of the allegations of bribery and money laundering"—from May, 2006. Stanford, you'll recall, is allegedly the ringleader of the world's largest Ponzi scheme (largest, to be fair, only after a number of religions and several "personal training and development" forums). Stanford, by the way, is getting screened by a state shrink today, as his attorney claims Stanford is "too heavily medicated to assist in his own defense." Well, hmm, tough one, maybe... someone should cut back on his medication?
Huge Thieving Mortgage-Servicing Schmucks Indicted
Outfit that was already basically theft accused of more obvious theft! Since being raided by the feds last year, Taylor, Bean & Whitaker's decade-long attempt to make money out of nothing at all has not gone unpursued. The company, which bought and packaged millions of dollars in residential loans, including servicing mortgage loans for Freddie Mac, "filed for bankruptcy in August.... The lender began to experience cash flow problems in 2002 and in an effort to cover the shortfalls, the company devised a scheme to misappropriate funds from a bank and eventually did so as well from the federal government." To the tune of half a billion in TARP money. And another half a billion in fake mortgages presented to banks!
AT&T's New Data Charging Scheme: It Is Explained!
I knew-because I saw a ton of pieces online about how the new AT&T data pricing was a great thing for America!-that actually it will be not at all a good thing. It is a delight to feel vindicated. Let the machine that writes Felix Salmon's blog posts explain: "AT&T could easily have saved consumers all the trouble of having to try to predict their next month's data usage by having a single plan: $15 for the first 200 MB, say, and then $10 per GB thereafter. They didn't, because they're looking forward to getting $30 per month from people exceeding 200 MB of data but who use nowhere near the 2 GB that 'Pro' users get for $25." MM HMM.
The Future of Journalism: Ira Stoll's New Business Model
Did you know that former New York Sun vice president Ira Stoll is back in business? He is running a website with the impressive name The Future of Capitalism. It launched two months ago, and where have we been on this important news? What is most wonderful is his business model. This man has a plan! In it, the more money you give, the more influence you have. Ta da, capitalism and the future of it! For instance, for $250K? You will "support a reporter to cover the Federal Reserve, Treasury, Congress, White House, or other beat designated by the sponsor in consultation with the editor." Hoo boy. Though! For just $75K a year, you get to call and email Ira Stoll anytime you want, night or day. Which, you know, I'm pretty sure we could do that for free? For now at least. Soon he will be so rich and powerful that he will not accept our free phone calls and emails.
