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By Michael Hurricane Sandy is doing even more damage than originally anticipated. As I write this, parts of Manhattan are under several feet of water. Nobody expected that. It is also being reported that water is pouring into the New York subway system. Some of the subway tunnels reportedly have four feet of water in them at this point. That is absolutely unprecedented. All along the eastern seaboard we are seeing [...] Four million Americans could be at risk from flooding due to rising sea levels, scientists warned today. Researchers found people occupying a combined area larger than the state of Maryland could be at risk from a rise of just one metre – the projected sea level rise by the year 2100 made by many scientists and computer models. Two new studies claim the risk is far greater than previously thought. By 2030: The [...] Janet Tavakoli, from Letters to the Editor, Financial Times Greater Global Risk Now Than At Time Of LTCM Sir, The Financial Services Authority claims that hedge fund gearing has decreased (report, May 2) and the Federal Reserve Bank of New York suggests that there is no close correlation between hedge fund returns making the current situation less alarming than in the past (May 3). I believe it [...] |
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