Turks and Caicos: Caribbean Hangover

The blue water is so clear you can count every reef, so still you can see the odd cloud reflected in it. Lucy and Jeff have agreed to offer a view from the sky of what wary developers wrought on the ground: shuttered private-island resorts and abandoned luxury hotels marring the landscape, suspended in time by financing woes, criminal investigations, or both. This British territory, largely undeveloped in the 20th century, became a playground for celebrities and the ultrarich as its reputation grew along with the easy money and loose credit of the boom years.

By Irin Carmon, Businessweek