Word: crashing
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Dates: during 2000-2009
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Your chances of being involved in a plane crash are pretty slim. By some estimates, they're as low as 1 in 11 million. But should you live through one - possibly as a gesture toward cosmic compensation - your shot at a book deal goes way up. There are two new memoirs out by survivors of plane crashes: Ollestad's Crazy for the Storm (Ecco; 272 pages) and Robert Sabbag's Down Around Midnight (Viking; 214 pages). Starbucks has picked Ollestad's memoir for its book program, and you can see why: plane crashes are usually unknowable, secret events...
Before he survived the crash, Ollestad had to survive his childhood. His father was a dashing adventurer who pushed his son to feats of preadolescent derring-do as a surfer and skier that are unimaginable by today's nurturing parental standards. It may have been his familiarity with physical danger, and his calmness in the face of it, that saved Ollestad on Ontario Peak. It helped him manage the psychic aftermath too, to put a frame around it. To the Ollestads, life was "raw and wild and wonderfully unpredictable." To be paralyzed by fear of it, by the inevitability...
Sabbag was even unluckier than Ollestad, if that's possible. In 1979 - four months after Ollestad's crash - Sabbag was on an Air New England flight that went down in a trackless forest just short of the airport on Cape Cod. There was no warning. "I breathed in," he remembers, "and when I breathed out I was pulling six Gs." His back and pelvis snapped on impact. He survived - along with the co-pilot and the other seven passengers, though not the pilot - and even learned to walk again. But he never escaped a sense that his life had been...
Sabbag is more of a writer than Ollestad. At the time of the crash, he was already a published author, and he has a knack for thumbnail portraits and sardonic humor, whereas Ollestad's prose has a more breathless, unpolished, confessional quality. But Sabbag's book, while more eloquent, is less complete. If there is a tragedy in Down Around Midnight, it is not of the Greek kind - Sabbag's bad luck was purely random, and if there was a fatal flaw involved, it wasn't his. He circles and circles around the trauma, interviewing his fellow victims, and their...
Fisher fell on hard times after the 1929 crash--getting by thanks only to the generosity of a wealthy sister-in-law and his employer, Yale--and so did the myth of the rational market. For a few decades, financial markets were seen as unruly beasts that had to be tamed with tight regulation to help protect the hard-earned savings of regular Americans. But memories of the 1930s eventually faded, and in the 1950s, the idea that markets knew best began its comeback. This was part ideological reaction to the antimarket conventions of the day, part scientific progress...