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A Quick Look at Bloomberg News's Opinion Section for June 11, 2012

MARK BUCHANAN: "An unusual study of traders' spit may offer a taste of
the future in how we understand what drives markets -- and why they
aren't as stable and efficient as we might hope." Traders have high
levels of testosterone when they're performing well and high levels of
cortisol, the "stress hormone," when the market is more volatile.
[Link]
Links:
1. http://us2.campaign-archive1.com/?u=98bac6cd6075b07f398b277fa&id=ad7ae799ed&e=002874f745
2. http://www.bloomberg.com/news/2012-06-10/what-traders-testosterone-tells-us-about-markets.html

WILLIAM COHAN: Even after JPMorgan’s $3 billion trading loss, "Wall
Street’s well-paid army of lawyers and lobbyists continues to make a
mockery of the whole re-regulation process." With nine pieces of
legislation in Congress designed to weaken the Dodd-Frank law, it's
probable that "the American people will end up with fewer substantive
rules and limitations than we have now on the kinds of crazy risks that
Wall Street can take." [Link]
Links:
3. http://www.bloomberg.com/news/2012-06-10/does-congress-want-another-economic-meltdown-.html

WILLIAM PESEK: "Seoul may be the most poignant of all the places where
one could view Greece's implosion. South Korea's crash in 1997 turned a
regional crisis into a global one, as a Greek exit from the euro is
sure to do. . . . Is Asia ready for a meltdown that dwarfs its own?"
[Link]
Links:
4. http://www.bloomberg.com/news/2012-06-10/greece-s-euro-exit-won-t-look-anything-like-2008.html

JAY FISHMAN: "Small businesses represent 99.7 percent of all
private-sector employers, provide great innovation and are the most
potent force to revive America's economy." They also face unnecessary
obstacles. Startups would benefit from "a three-year incubation period
during which they would face lower taxes, fewer regulatory requirements
and fewer penalties for first-time and harmless paperwork violations."
[Link]
Links:
5. http://www.bloomberg.com/news/2012-06-10/startups-deserve-tax-free-reg-free-incubation-period.html

RED JAHNCKE: "All the debate about the pros and cons of a Greek exit
from the euro area is missing the point: A German exit might be better
for all concerned." A swift German exit would cause currency
depreciation that would improve remaining euro-area nations' trade
competitiveness and improve the euro area's balance of payments,
providing funds to service its external debt. [Link]
Links:
6. http://www.bloomberg.com/news/2012-06-10/forget-greece-a-german-euro-exit-might-be-better.html

PANKAJ MISHRA: In India, "the main assumption here is that elected
national governments and the global market economy are logical partners
in the creation of wealth and in that much slower but apparently steady
process: the removal of poverty. But what if this is untrue?" [Link]
Links:
7. http://www.bloomberg.com/news/2012-06-10/democracy-and-capitalism-are-heading-for-a-bitter-breakup.html

SIMON JOHNSON: “Two years after passage of the Dodd-Frank financial
reform law, how are we doing putting in place key provisions, including
a system to control systemic risk? Not well.” The Financial Stability
Oversight Council is “M.I.A. OFR is barely functional. The Volcker Rule
is mired in controversy. Securitization reform is stalled. They haven’t
even proposed new bank capital rules. The public is becoming cynical
about whether the regulators can do anything right, which is
undermining support for reforms.” [Link]
Links:
8. http://www.bloomberg.com/news/2012-06-10/new-watchdog-needed-to-keep-heat-on-official-watchdogs.html

AL HUNT: Milestones of the presidential election include the Supreme
Court's decision on President Obama's health care law, the decision on
Arizona's anti-immigration law, the outcome of the Republican National
Convention, the first national debate on Oct. 3, and the release of the
October unemployment rate. [Link]
Links:
9. http://www.bloomberg.com/news/2012-06-10/some-known-knowns-of-presidential-campaign-s-last-stretch.html

THE EDITORS: “Florida is locked in battle with the U.S. Justice
Department over the state's efforts to scrub its voter rolls. . . . If
Governor Scott wants to chase fraud, he should do so in a way that
doesn't make collateral damage of Florida voters. Unfortunately,
collateral damage seems to be the point of the exercise.” [Link]
And in banking, THE EDITORS write, "the notion that dull-equals-safe
springs from a misconception about what banks do. Banking, by its
nature, is a risky endeavor." Instead of making banking less risky,
banks should be required to hold more capital. [Link]
Links:
10. http://www.bloomberg.com/news/2012-06-10/-election-fraud-is-just-another-way-of-playing-hardball.html
11. http://www.bloomberg.com/news/2012-06-10/making-banking-boring-is-the-wrong-way-to-make-it-safer.html

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