630 West 5th Street
Los Angeles, CA
Architect: Bertram Grosvenor Goodhue
This building is a synthesis of International Style and Mexican late baroque that opened in 1926. It was added to the National Register of Historic Places in 1970, but with maintenance problems, space constraints and development pressures, the building faced demolition in the 1970s. This threat resulted in the formation of the Los Angeles Conservancy in 1978. Two arson fires on April 29 and September 3, 1986 severely damaged both the building and collections (what a coincidence). The result was the sale of air rights for the construction of Library Tower, and an extensive renovation and expansion that included an atrium and underground parking garage. The library reopened on October 3, 1993.
Much of the financial industry has become a racket - a game in which a handful of people are lavishly paid to mislead and exploit consumers and investors. And if we don't lower the boom on these practices, the racket will just go on. (Paul Krugman)