Bubble

How to Save American Finance from Itself

Has financialization gone too far?

As chairman of the Federal Reserve, Ben Bernanke can explain a lot about its response to the housing bubble. What he can't explain is whether much of our finance industry is more trouble than it's worth. 

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To accurately assess trends in architecture and urbanism one needs a time horizon longer than 365 days. Just to design a building often takes longer than that. Even so, 2008 may come to be seen as a watershed year for contemporary architecture. The electrifying campaign for the U.S. presidency, the sputtering housing market and the global economy's free fall, the ever-more chilling and urgent need to slow the pace of global warming: these developments and more awakened architects to the realization that they've more important things to design than monolithic, high-end goodie bags.

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