Felix Salmon

Did wifi cause a rise in bus ridership?

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What’s behind the rise in bus travel in recent years? It certainly seems very impressive, according to the latest research from DePaul University.

Why muni investors shouldn’t worry about Jefferson County

There’s a distinct whiff of the faux-naive coming off Mary Williams Walsh’s article about the fate of Jefferson County’s general-obligation bonds:

The Bank of Cattaraugus’s numbers

Alan Feuer has the story of the Bank of Cattaraugus, a tiny community bank in the eponymous town an hour south of Buffalo. It’s a heartwarming tale of community banking:

Counterparties

S&P on Europe: still pretty much hopeless — Reformed Broker

Bernanke sees his shadow, may keep cheap money around for two more years — WSJ (paywall)

The philanthrocapitalism debate

The Stanford Social Innovation Review is hosting a debate over philanthrocapitalism in which Kavita Ramdas, on the anti-philanthrocapitalist side, makes some very salient points.

Counterparties

Europe hasn’t learned the lessons of Argentina’s financial crisis, say Argentinians — Spiegel

The global youth unemployment crisis

When Occupy Wall Street launched, there were hopes and fears that it would recapitulate the Arab Spring. Those hopes and fears sprang largely from a simple fact: that both OWS and the Arab Spring are characterized in large part by angry, unemployed young people.

Where will the ECB’s billions go?

The market has had a full day now to digest the results of the ECB’s debt auction, and Floyd Norris, for one, is wildly enthusiastic about them. The ECB’s strategy, he writes, “may be enough to stem the European crisis for at least a few years, and go a long way to recapitalizing banks in the process”.

Counterparties

El-Erian: There’s more than a 1 in 3 chance the EU will implode — Bloomberg