This week, the Boy Scouts of America filed for bankruptcy as the organization faces a growing number of sexual abuse allegations from former scouts.
In recent years, patterns of abuse and cover-up have come to light at several powerful institutions — from the Catholic Church to USA Gymnastics and the scouts — and broader public awareness of the abuse has driven more victims to come forward.
In response to victims’ legal claims, these institutions have all employed a common strategy: bankruptcy. USA Gymnastics filed for bankruptcy in late 2018, and more than 20 Catholic dioceses have done the same since 2004 (including the Diocese of Harrisburg, Pennsylvania, which filed this week). A bankruptcy declaration halts depositions and discovery in sexual abuse lawsuits, usually leading to quieter mass settlements in the form of payouts to victims. For the Boy Scouts, the strategy is a financial one that protects the assets of its local scouting councils, many of which face declining membership.
But filing for bankruptcy doesn't guarantee protection. Last month, victims of USA Gymnastics’ abusive longtime doctor sought to dismiss the bankruptcy case altogether — a move that could force the organization to face the lawsuits that were put on hold, potentially exposing it to more dire financial distress.
Admares Ltd.
Smart In a Shot
Here’s a creative way to adapt to rising sea levels brought about by climate change: buildings that float.
Several companies are working to design hotels, offices and homes that rise and fall with the water level, potentially extending vulnerable coastal cities out into the ocean. Sixteen floating hotels, or floatels, are under construction in Qatar, where they’ll house visitors at the 2022 World Cup. In Rotterdam, Netherlands, a developer is building a 54,000-square-foot, three-story floating office building. There are even floating dairy farms.
For some developers, the idea originated with the waterborne housing built for oil rig workers in the ocean. Now it’s being applied more broadly. Koen Olthuis, of architecture firm Waterstudio, told the Wall Street Journal: “Climate change has definitely helped us spread our designs and ideas.”
The Numbers
Covid-19 has infected more than 75,000 people worldwide. Let’s look at the impact of this coronavirus.
2.3%
That’s the estimate, from Chinese authorities, of the fatality rate of Covid-19 — the proportion of people infected by the virus who have died. Compare that to SARS, which had a mortality rate of 9.6% during the 2003 outbreak, or MERS, which proved fatal to 35% of those infected. According to health experts, 80% of those who get coronavirus experience “mild” symptoms and recover.
3,000
That’s the number of health workers who have contracted coronavirus at last count. The virus is more contagious than SARS or MERS, which puts the people treating patients at risk of infection.
$144 billion
That’s how much Chinese consumers spent during the first seven days of the annual Lunar New Year holiday last year. This year’s spending tally is expected to drop sharply, as families spent the holiday indoors, venues canceled events and stores closed up out of caution amid the outbreak.
Christopher Furlong/Getty Images
This week on the podcast
Episode 150: Every problem is a housing problem
That's according to New York Times reporter Conor Dougherty. We talk with him about the affordable housing crisis and his new book "Golden Gates." (Listening time, 37:13)
Tell us what’s making you smarter at smarter@marketplace.org. We'd love to include your recommendation in a future newsletter.
Famous for being rich
"Make Me Smart" writer-producer Erica Phillips recommends “Greed Is Good,” an episode from CNN’s series “The Eighties” that follows what happened on Wall Street after deregulation in the early 1980s. You’ll see some familiar faces in the episode, including Donald Trump and Michael Milken.
•••
How we value a human life
Listener Mark L. recommends this 2018 episode of the “Freakonomics” podcast featuring victim-compensation expert Ken Feinberg. Feinberg has been tapped by Boeing to distribute money for 737 Max victims; in the podcast, he explained how those funds work.
•••
A good yarn
Marketplace editor Carrie Barber recommends the podcast “Fiber Nation,” about yarn, knitting, women’s labor and so much more. “The most recent episode tells how hand-knit stockings helped solve murders in Victorian England — and the exploitative piecework labor system that women endured,” Carrie says.
Enjoying Make Me Smart? Forward this email to a friend!
Sign up for Make Me Smart and our other Marketplace newsletters here.
Elevate your understanding of what's trending, breaking and buzzing with Make Me Smart. Because none of us is as smart as all of us.
