Sticks and Stones

This is our hope. This is the faith that I go back to the South with. With this faith we will be able to hew out of the mountain of despair a stone of hope. With this faith we will be able to transform the jangling discords of our nation into a beautiful symphony of brotherhood. With this faith we will be able to work together, to pray together, to struggle together, to go to jail together, to stand up for freedom together, knowing that we will be free one day.

This will be the day, this will be the day when all of God’s children will be able to sing with new meaning “My country ’tis of thee, sweet land of liberty, of thee I sing. Land where my father’s died, land of the Pilgrim’s pride, from every mountainside, let freedom ring!”

And if America is to be a great nation, this must become true.

And so let freedom ring from the prodigious hilltops of New Hampshire.

Let freedom ring from the mighty mountains of New York.

Let freedom ring from the heightening Alleghenies of Pennsylvania.

Let freedom ring from the snow-capped Rockies of Colorado.

Let freedom ring from the curvaceous slopes of California.

But not only that; let freedom ring from Stone Mountain of Georgia.

Let freedom ring from Lookout Mountain of Tennessee.

Let freedom ring from every hill and molehill of Mississippi - from every mountainside.

Let freedom ring. And when this happens, and when we allow freedom ring - when we let it ring from every village and every hamlet, from every state and every city, we will be able to speed up that day when all of God’s children - black men and white men, Jews and Gentiles, Protestants and Catholics - will be able to join hands and sing in the words of the old Negro spiritual: “Free at last! Free at last! Thank God Almighty, we are free at last!”

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Gary Vaynerchuk asked us all to make today Good People Day, which is a wonderful idea. It’s not naive to decide to think about what we appreciate in others, and it isn’t unfair to turn our eyes away from the mainstream media’s flow of death and destruction. Sometimes we should talk about good news, sometimes we should publicly celebrate the people we consider good.

My contribution is to share a story with you - specifically how I got to know the wonderful people at CNET’s Buzz Out Loud podcast. It was mid-2005, the show was pretty new and a few people were beginning to develop what would become a vibrant community. We were in the hundreds, and at the CNET forums learnt about each other, discussed all sorts of issues, and so on. It was a great community and the hosts dropped in often. The forum was one of the places I had to visit everyday; the conversations there were as important to me as my ‘real-life’ conversations.

Late 2006 turned out to be a tough time in my life and the people I had known, but never met, rallied around to provide moral support. These people strewn across the planet came to share kind words with me and show that I mattered to them. That forum has always meant a lot to me, because I have met some amazing people there, people I later met in real life, and others spread all over the world with whom I have started online projects!

What was equally remarkable about the listeners’ community was how much we interacted with the hosts. They didn’t live one step withdrawn, watching from afar at what we said about their opinions and analysis. They participated, which made the whole atmosphere far more conducive to lively conversations, not just responses. Tom, Molly, and Veronica were always in the forum talking to their listeners. It was never a ploy to suggest they cared about the audience, it was real interest in the listeners. Even as the show has grown to the tens, likely hundreds of thousands of listeners it has today, you’ll still see Tom, Molly, and Jason joining in.

There are several thousands of miles east and west from me, here in London, separating us in the Buzz Out Loud community but I know that through my many years of interactions with the Good People involved with the show, I have gained real friends and am better for having known them.

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For the last thirty years one of the loudest way to demonstrate wealth was by building a McMansion. These ostentatious homes could be built on a budget while retaining a grand appearance. Building with pre-fabricated materials, not hiring an architect, and skimping on design by only having the face built in stone - or even out of composite that looked like stone, cut costs dramatically, allowing people to build houses that looked more expensive than they were.

The result was ugly, disproportionate homes. They had glamorous faces but sides built with plywood and very few windows. These homes had large heating and cooling bills. They loomed over their diminutive lawns. They were unoriginal; that cost-cutting decision to not have an architect meant many houses looked alike.

What few people predicted was another format growing around the same time: prefab modular houses, would later rise from its roots as trailer-park centerpieces to the sort of thing Silicon Valley billionaires like Phillipe Kahn want to live in. The difference is of course a dramatic change in style and building quality; but two things remain the same: affordability and convenience.

I was drawn to Marmol Radzinger’s designs for a totally different reason. It seems odd to say these homes are beautiful - they are designed to be purely fuctional and completely ignore aesthetics  - but in their drive to lower costs and reduce the amount of energy needed, the designs bear a striking resemblance to the work of the Internationalist architects of the 1930s - 1970s. The homes are not adorned with pediments and columns, they are purely functional, which ironically forms a style of their own.

Firms like Resolution: 4, Marmol Radzinger, and Jeriko House have designed striking model homes. These can be up to 5,000 square feet and include pools, second floors, and garages. These three firms in particular, along with LivingHomes and Michelle Kaufmann design beautiful modern homes for six, sometimes seven figures. Those on a much tighter budget can also build their own brand new, green, modern homes from Rocio Romero, whose LV homes can be bought, built, and completed for $80,000.

Some of the particularly appealing aspects are the modular designs, which allows for easy extendability and customisation: if you choose to add a library, it’s fairly simple to do so, and that library can be built exactly to your specification. Another recent draw is green technology. Marmol Radzinger offers the option of installing solar panels, and all firms use materials and building techniques which limit the impact on the environment. Most firms build to LEED certification.

In these ways, the firms have turned a cheap, efficient, and highly customisable medium into a luxury good. They come with 20 year warranties, are built to a truly impressive standard with high-grade materials, and by being easily customised are usually unique. The only downside is that as a relatively new phenomenon; you can’t just go and buy one on the street. While appealing because you can build exactly what you want, in densely packed, highly urbanised cities and suburbs, the cost of tearing down an existing house is included. Nevertheless, the impressive qualities outweigh these costs, which is why this option is growing in popularity so rapidly.

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We’ve had major surprises in the past few weeks. Politically, the Eliot Spitzer revelation and resignation caught everyone totally unaware. Socially, some of us witnessed a gory geek-led attack on Sarah Lacy for soft-balling an interview with Facebook’s notoriously-shy Mark Zuckerberg. Culturally, France’s foreign minister suggested an EU boycott of the Olympic opening ceremony as a result of China’s repression of Tibet.

But economically, the-tip-of-an-island blew the world into searing chaos. The three firms most heavily involved in the sub-prime mortgage crisis; Bear Stearns, Lehman Brothers, and Merrill Lynch all teetered on the edge of bankruptcy. While so far only one has collapsed, the other two remain balanced, delicately, on the whims of Wall Street traders.

The collapse of Bear Stearns was only surprising because it seemed Wall Street believed these firms could get away with their incredibly profitable but totally absurd subprime lending. The International Herald Tribune reported yesterday from within Bear Stearns, about the employees’ reaction. Many spoke of total shock, a feeling of betrayal, and ominously; none seemed aware that this sort of collapse was well within the realms of Bear Stearns operations.

Bear Stearns’ operations were so risky because they were bundling valueless loans with some good loans and then sold them to other institutions which were totally unaware of what they had bought (other than seeing the AAA rating on the bundles).

Surely a firm operating in this manner should go bankrupt. It had made risky financial maneuvers, assumed it would not get caught, and when it all fell apart - everyone was surprised. The story should have ended there. Bear Stearns would have collapsed into a smoking heap, other firms would peer at the wreckage and learn some valuable lessons. Although the following year would be fraught with panicking traders feeling insecure about deals, it would be the ultimate culmination of Milton Friedman’s pro-free-market ideals. Leave it to the market, we chanted.

But when the market fell apart because their brash deals collapsed, they called in the Federal Reserve. Although the Fed deserves blame for not reigning in Wall Street during Alan Greenspan’s boom years, it should not be paying for Bear Stearns collapse. Nevertheless, it floated $30 billion to grand old JP Morgan and Bear Stearns was snapped up on Monday for $236 million, massively down from the $3.54 billion it was worth on Friday.

Most impressively, JP Morgan has an option on Bear Stearns World Headquarters (photo above of the Kohn Pederson Fox-designed skyscraper built in 2001) so if Bear Stearns stakeholders vote down the JP Morgan bid, not only will they likely be bankrupt immediately, they could get evicted from their own headquarters; a building which is worth approximately 5 times what JP Morgan bid for the whole company.

Here in England when our government did something very similar: nationalising Northern Rock, our Senior Staff Writer wrote a sarcastic article labeling the Prime Minister a ‘dyed-in-the-wood Commie’. While joking, the point is that the nationalisation of Northern Rock was direct government intervention in the financial system after its collapse. Which is exactly what the Fed did for Bear Stearns. Headlines across the world trumpeted it as JP Morgan saving Bear Stearns, but this was funded by the Fed’s $30 billion.

Government intervention in this ways is like giving candy to the class bully. Bear Stearns was ruthless in its quest to make money from subprime mortgages. For this, Bear Stearns should not be nursed back to life, it should be allowed to collapse because it brought its downfall upon itself. Notice Goldman Sachs, another player in Wall Street, has $21 billion to hand out in bonuses; it was not necessary for Bear Stearns to operate in this way. It chose to, and for that error, it should fall. Saying it is too big to fail should only be a justification for propping up necessities like waterworks, electricity suppliers, and so on.

The blame remains at the feet of Alan Greenspan. Bear Stearns, Citicorp, Lehman Brothers, Merrill Lynch, Countrywide, and the rest should be free to operate and make vast profits. Their activities fuel economic growth and generate wealth across the world. However, regulation should have been in place to ensure those worthless loans were not ‘mislabeled’ AAA. These firms should be free to invest, invent, foster entrepreneurship, and make trillions of dollars; but not by swindling others.

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Reporters Without Borders, the Paris-based international non-governmental organization which advocates freedom of the press, has today launched a one-day protest against Internet censorship in the nine worst offending nations. While they include obvious ones like China and Cuba, RSF also shines a light on the offenses of Turkmenistan and Eritrea, both nations which cripple Internet access as a means of controlling what the public knows, thinks, and understands of their government and global events.

The protests are very easy to join; you click on a country - perhaps the one that offends you most, or as I did, the one with the fewest protesters - and fill out 4 text fields; name, surname, city, and country. Then you pick the slogan you wish to hoist above your virtual head and join in with thousands of others who right now are protesting in virtual representations of famous plazas around the world, including the infamous Tienanmen Square in Beijing.

Join in (French)
Join in (English)

The graphic above, from the Wikimedia Foundation, is the Reporters Without Borders 2006 press freedom ranking map, showing from blue to red the severity of Internet restraints across the world.

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