The Time Mag paywall: it’s back, and higher than ever — Nieman Lab
Robert Sullivan’s fantastic story on bringing bus rapid transit to NYC. This can really happen, people! — NYMag
CMA Datavision has released its sovereign risk report for the second quarter of 2010. It’s based on CDS prices, and it makes for fascinating reading. It was a bad quarter for sovereign credit: 93% of sovereigns widened, and they widened a lot — by 30%, on average. Spreads in France, Portugal, and Spain all more than doubled, while Greece soared from 346bp to 1,003bp, at one point becoming the riskiest sovereign in the world, trading slightly wider than Venezuela. Only one country saw its CDS spreads tighten in significantly over the second quarter: Iceland tightened in by 17% to 330bp, making it riskier than Ireland but safer than Portugal.
Adam Ozimek has a bright idea:
Allow any company to become a bank with a very minimal regulatory barrier if they do 100% reserves on deposits. This means people will know their money is there whenever they want it, which will make the “bank” safe from runs, which will eliminate the need for FDIC insurance or heavy handed regulation.
Patrick LaForge was underwhelmed by his visit to McNulty’s Tea & Coffee:
I inquired about the roaster and was told with a shrug that the shop used an unnamed roaster in Long Island City, Queens. Presumably the beans had been roasted recently.