One of Those Reminders That Capitslism is Often a Gamble and Sometimes a Dumb One

Why Nobody Wants to Live in NYC's Thinnest Skyscraper. The problems included an absurd set of engineering problems. Even solved, the building sways and groans in high winds. At $10 million and up, spectacular views and a wonderful location on Central Park failed to sell all the apartments. The $2 billion (yes, with a b) invested led to foreclosure; the investors lost everything.

If I had $2 billion sitting around looking for a place to park, I would run like my mad from a hogh-risk project like this. My IRA has grown 41% this last year. I could take out $200 million annually with almost no risk. That $200 million could be invested in essentially zero risk tax-free municipal bonds with an annual return of $8 million. Some people are clearly too stupid to stay rich.