From ai5000 Magazine: The Fires by Joe Flood

In a testament to ai5000 Editor-in-Chief Kip McDaniel's judgment of talent (or luck, as some see it), ai5000 book reviewer Sara Nelson critiques ai5000 Editor-at-Large Joe Flood's The Fires -- his first (of what we hope is many) non-fiction novel.

It may seem politically incorrect to say so, but one of the (very) few positives to come out of the terrorist attacks on New York City on September 11, 2001, was the improved stature, in the minds of citizens and government alike, of the city’s firefighters. Those of us who witnessed or survived that period remember it as one in which firemen (and, surprisingly rarely, women) were lauded both publicly and privately. It was not uncommon for locals to leave notes and flowers near firehouses that had lost people that day, or for those who had behaved heroically and survived. For months after the attacks, average citizens would go to restaurants and, seeing a table full of rescue workers (many of them from the firehouses) nearby, promptly pick up their check. Firemen were the new, and maybe the only, heroes of that era, a time in which government and corporations seemed to fail us, when the individual act of bravery was the only one we could count on.

However, it was not ever thus, certainly not in New York City—as Joe Flood’s magnificent The Fires makes clear. Gotham in the late 1960s and early 1970s was an economic and social ruin. Crime was rampant, the city was broke: Every New Yorker remembers the headline about President Gerald Ford telling the city to “drop dead,” before eventually giving the almost-in-default state government funds. Something had to be done, and the wisdom of the age suggested that that “something” should be a modern, futuristic, examination of the city’s situation. Enter the RAND Corporation, an outfit known for its computer-generated analyses and its success in high-level military operations, even in the just completed war. (Talk about the military industrial complex!) Surely there was a system, an algorithm, a plan that could be implemented to save the city.

To read the rest of the magazine article, click here.

Ruling: Ex-Hevesi Aide to Proceed to Trial in NY Pension Scandal

In an 82-page ruling, Supreme Court Justice Lewis Bart Stone in Manhattan dropped some of the charges against Hevesi, which include felonies and misdemeanors of bribery, grand larceny, money laundering and fraud.

(July 29, 2010) — Henry “Hank” Morris, the former chief political adviser to New York’s ex-comptroller Alan Hevesi, will go on trial for a majority of the 90 charges against him as part of the state pension fund probe.

State Supreme Court Justice Lewis Bart Stone in Manhattan dismissed 13 of the 90 charges against Morris — five counts of falsifying business records, five counts of filing false documents, two counts of grand larceny and a count of scheme to defraud. The judge ruled that many of the most serious ones could remain. Morris still faces up to a 25-year prison term for enterprise corruption.

New York Attorney General Andrew Cuomo accused Morris, who advised former comptroller Alan Hevesi, of corrupting the investment process at the pension to grant deals that would benefit himself, his colleagues and contributors to Hevesi’s campaign. The grand jury heard “sufficient evidence” to maintain most of the charges regarding his corrupt operation, where decisions about which funds to invest in were based on whether the fund “agreed to pay placement fees or share management fees with Morris rather than solely on the prudent investor rule,” the judge said, according to Bloomberg.

Six people have pleaded guilty following the investigation into New York’s $122 billion pension fund, including Raymond B. Harding, the former chief of the Liberal Party in the state, and David J. Loglisci, the former chief investment officer for the state’s pension fund.

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To contact the <em>aiCIO</em> editor of this story: Paula Vasan at <a href='mailto:pvasan@assetinternational.com'>pvasan@assetinternational.com</a>; 646-308-2742

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