Educational video on ‘Quants’ and their role in the financial crisis

YouTube: “Quants: The Alchemists of Wall Street (Marije Meerman, VPRO Backlight 2010)”

Related: “The Modelers’ Hippocratic Oath”: I will never sacrifice reality for elegance without explaining why I have done so….I understand that my work may have enormous effects on society and the economy, many of them beyond my comprehension.

Charlie Lord, RIP

“Charlie Lord, Mental Ward Photographer And Activist, Dies At Age 90”.

Charlie Lord’s work, which exposed the horrors of Byberry State Hospital here in Philadelphia in the 1940s, was recently profiled by NPR:

At Byberry, Lord sneaked a small Agfa camera in his jacket pocket. It was the camera he’d borrowed to take on his honeymoon. But he’d dropped it in a lake and then felt he had to buy the damaged camera from his friend. Now he could use it to take pictures to show conditions in the A and B buildings.

When no one was watching, he’d quickly shoot a picture without even looking through the viewfinder. “I’d try to fill the frame,” he says. “You know, not just have little people far away. I’d get up as close as I could. I was aware of composition. But the main thing was to show the truth.”

Over a few months, Lord filled three rolls of film, with 36 exposures each. His pictures showed the truth, in black and white. In the past, reformers and journalists like Dorothea Dix and Nellie Bly sneaked into institutions and wrote exposes about the horrific conditions there.

But Lord was one of the first to ever expose institutions by using the power of photography. “I just thought this would show people what it was like. It’s not, not somebody writing to describe something,” he says. “They can use flowery words or you know, do whatever they want. But if the photograph is there, you can’t deny it.”

Two from the Boston Globe on the Need for Better Filters

Boston Globe: Joe Keohane: Imaginary fiends: In 2009, crime went down. In fact it’s been going down for a decade. But more and more Americans believe it’s getting worse. Why do we refuse to believe the good news?

Boston Globe: Easy = True: How ‘cognitive fluency’ shapes what we believe, how we invest, and who will become a supermodel

A quote from David Foster Wallace’s commencement speech

WSJ: David Foster Wallace on Life and Work: Adapted from a commencement speech given by David Foster Wallace to the 2005 graduating class at Kenyon College.:

…the world will not discourage you from operating on your default-settings, because the world of men and money and power hums along quite nicely on the fuel of fear and contempt and frustration and craving and the worship of self. Our own present culture has harnessed these forces in ways that have yielded extraordinary wealth and comfort and personal freedom. The freedom to be lords of our own tiny skull-sized kingdoms, alone at the center of all creation. This kind of freedom has much to recommend it. But of course there are all different kinds of freedom, and the kind that is most precious you will not hear much talked about in the great outside world of winning and achieving and displaying. The really important kind of freedom involves attention, and awareness, and discipline, and effort, and being able truly to care about other people and to sacrifice for them, over and over, in myriad petty little unsexy ways, every day. That is real freedom. The alternative is unconsciousness, the default-setting, the “rat race” — the constant gnawing sense of having had and lost some infinite thing.

Shirky confirms Shenk

Clay Shirky, in a recent talk at Web 2.0 Expo New York, challenged us to stop talking about information overload as an excuse, recognize it as a fact (one that’s existed for a long time and will not diminish in the future), and to work on building better filters.

Watch Clay Shirky on information overload versus filter failure:

Titles like the Boing Boing one are kinda unfortunate because they frame Shirky’s view to be one that would be in opposition to lets say, David Shenk’s from his book “Data Smog”.

Far from it.

David Shenk attempted to identify the information landscape we are living in now way back in 1997. In a 2007 piece in Slate he took a critical look back.

As with any look forward, the book wildly missed the mark with some of its more grim predictions, but in many ways still has much to offer and think about.

In particular, towards the end of the book Shenk proposed a personal call to action for building better filters (learning to be our own for example) and to be better information producing citizens (being our own editors). Big foreshadowing of Shirky’s talk there.

Most reviews of the book focussed on Shenk’s definition of the problem and pooh-poohed his suggestions. So here we are, many years down the line, and most of the focus is *still* grousing about ‘information overload’.

Clay Shirky’s point is its high time to stop doing that and get busy building the tools, protocols, customs and businesses that will help us not only deal with it, but thrive from it.

Was the call to Conan’s defense against Leno a Gen-X and Gen-Y cry against Baby Boomer entrenchment?

When you get older, these kinds of reflections start to seem all the more uncomfortable don’t they? That makes them all the better to consider and think about.

reddit.com: “It just hit me: Leno vs. Conan perfectly embodies the struggle in America between the greedy, selfish Baby Boomers who refuse to go away, and its youth”

In the comments someone posted a monologue from Craig Ferguson that was worth a listen:

When housing homeless people isn’t enough

Monica Yant Kinney, in today’s Philadelphia Inquirer, shares the story of ‘Mary’ a Pathways to Housing client, and the difficulties she and her neighbors are facing.

Many of the chronically homeless have mental illnesses that, like many disabilities, require them to have special services available to be able to live their lives independently. Where someone with a wheelchair might require a special transportation to get about, a person facing these difficulties might require a technician to visit daily to insure they are taking their medication. Provided the right tools and structure, many do very well.

Kinney’s article, and ‘Mary”s story, raise hard questions for which there are no easy answers.

My Mom, our family, was thankful for the efforts of Carelink which provided similar services for her. Many deal with the effects of dementia in their loved ones as they age, and for her, the last few years of her life were probably her most lucid and clear with their help.

Everyone deserves a life of dignity.