The George Washington Bridge over the Hudson is the most beautiful bridge in the world. Made of cables and steel beams, it gleams in the sky like a reversed arch. It is blessed. It is the only seat of grace in the disordered city. It is painted an aluminum color and, between water and sky, you see nothing but the bent cord supported by two steel towers. When your car moves up the ramp the two towers rise so high that it brings you happiness; their structure is so pure, so resolute, so regular that here, finally, steel architecture seems to laugh.
— Le Corbusier
When the Cathedrals were White (1947)
From the legislative history of the U.S. Investment Advisers Act of 1940:
Not only must the public be protected from the frauds and misrepresentations of unscrupulous tipsters and touts, but the bona fide investment counsel must be safeguarded against the stigma of the activities of these individuals. Virtually no limitations or restrictions exist with respect to the honesty and integrity of individuals who may solicit funds to be controlled, managed, and supervised. Persons who may have been convicted or enjoined by courts because of perpetration of securities fraud are able to assume the role of investment advisers. Individuals assuming to act as investment advisers at present can enter profit-sharing contracts which are nothing more than “heads I win, tails you lose” arrangements. Contracts with investment advisers which are of a personal nature may be assigned and the control of funds of investors may be transferred to others without the knowledge or consent of the client.
S. Rep. No. 1775, Investment Company Act of 1940 and Investment Advisers Act of 1940, 76th Cong., 3d Sess., 21-22 (1940).
“UnSCRUpulous TIPsters and TOUTS.” An alliterative, rhythmic and evocative phrase.