Matt Chaban manages to get a quote today which perfectly encapsulates the self-defeating nature of anti-bike activists. He lays out the basics of New York’s bike-share scheme — 600 stations, 10,000 bikes — and then quotes one friend and one foe. The friend is Gene Russianoff of the Straphangers Campaign. Here’s the foe:
Ryan Avent’s 90-page Kindle single, The Gated City, is a bargain at $1.99. It was produced in close consultation with the Kindle Singles editor, David Blum — the gatekeeper who determines what gets chosen to be a Kindle Single, and what gets relegated to the long tail of Kindle Direct Publishing.
It’s looking increasingly as though the proximate cause of the next big global crisis is going to be a liquidity crunch at French banks, rather than a European sovereign default. This is not the kind of stock chart that any leveraged institution likes to see:
I’m normally a big fan of Bond Girl, but today is obviously the official day when bankers talk their book with no particular logic. In this case, the proposal which has attracted her ire is the idea that part of the jobs bill will be paid for by capping itemized deductions for individuals earning more than $200,000 a year and married couples earning more than $250,000. Basically, you can deduct away to your heart’s content — until your tax rate reaches 28%. At that point, you can’t deduct any more.
Spiegel has an excellent, long, and detailed article about the tension at the heart of the euro crisis — the one between Greece and Germany. Europe has thrown $150 billion at Greece to date and has nothing to show for it except for a temporarily averted sovereign default. If that kind of money continues to rain down on Greece, the outcome will be similar — immediate crisis averted, but no real change in terms of the Greek sovereign finances. Austerity, it turns out, is working exactly the way it always does: it’s slowing down the country and making any recovery pretty much impossible.
It’s beyond ironic — closer to moronic, really — that Jamie Dimon would give an interview to London’s very own Financial Times, complaining that international bank-regulation standards are “anti-American,” on the very day that the Vickers Report — Robert Peston calls it “the most radical reform of British banks in a generation, and possibly ever” — is released.