Before Dick Fuld oversaw the implosion of Lehman Brothers, and before John Thain had to apologize for accepting an outrageous bonus from Merrill Lynch, there was Frank Woolworth. The gloss and shine that characterized New York pre-Crash of 1929, and then again pre-Panic of 2008/09 resulted, in large part, emanated from the publicity stunts and good business of Mr. Woolworth. Woolworth hired Cass Gilbert, a seasoned New York architect, to design the iconic building. Woolworth erected his eponymous Woolworth Building in Lower Manhattan in the 1920s, solidifying the space as the epicenter of the financial world. In an essay from the Times Literary Supplement, PD Smith examines how architecture and construction reflect and perpetuate political climates. The historical essay offers provocative patterns to consider in relation to the current trends of foreclosure and interruption construction projects while considering several important books on the topic. If the twentieth century was defined by its politically-erected cities, how will the twenty-first be molded by the bank-owned properties and vacant construction scaffoldings?
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