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Share the View -- Bloomberg View
A Quick Look at Bloomberg News's Opinion Section for June 25, 2012
AL HUNT: Big Business is embracing Mitt Romney, but there are some
areas “where Romney is out of sync with much of big business, as his
political calculations changed some long-held views.” Examples include
his stance on China, immigration and Simpson-Bowles. [Link]
Links:
1. http://us2.campaign-archive2.com/?u=98bac6cd6075b07f398b277fa&id=20276d7d93&e=002874f745
2. http://www.bloomberg.com/news/2012-06-24/romney-s-love-fest-with-business-is-sometimes-a-mismatch.html

SHARON BOWLES: Creating a European banking union to resolve the
region's financial crisis by achieving mutualization of the euro area's
debt is easier said than done. Yet it still might be "doable." For
starters, “parliaments and governments must study the pooling of
sovereignty. And euro-area countries will need to abandon protectionist
tendencies in financial services.” [Link]
Links:
3. http://www.bloomberg.com/news/2012-06-24/banking-union-is-an-idea-in-search-of-the-good.html

SIMON JOHNSON: What happens to U.S. banks if the euro dissolves? “Very
few people seem to have gotten their heads around dissolution risk.
Here’s what it means: If you have a contract that requires you to be
paid in euros and the euro no longer exists, what you will receive is
unclear.” [Link]
Links:
4. http://www.bloomberg.com/news/2012-06-24/u-s-banks-aren-t-nearly-ready-for-coming-european-crisis.html

WILLIAM COHAN: Representative Gary Ackerman made the right point about
hedging during last week's House hearing featuring JPMorgan chief Jamie
Dimon. “The only beneficiaries of hedges, if they work out, are the
bankers and traders who profit from a gamble they took with their
depositors’ and shareholders’ money in the first place.” [Link]
Links:
5. http://www.bloomberg.com/news/2012-06-24/wall-street-forgets-its-job-is-to-create-jobs.html

THE EDITORS: The stocks and bonds of the 15 banks downgraded by Moody's
on Thursday all rallied the next day. It seems investors are catching
on. “Ratings are by their nature backward-looking. They fall only after
the problems of a borrower are obvious and demonstrable. So they should
catch markets by surprise only if investors haven’t been doing their
homework.” [Link] And THE EDITORS write, on paper, the Environmental
Protection Agency has the power to regulate toxics. In reality the
agency's powers are curtailed, leading to inadequate oversight. One
particular cause of concern: flame retardants, which are found in
“everything from couch cushions to televisions to airplanes” and are
known to cause cancer, promote obesity and pollute the environment.
[Link]
Links:
6. http://www.bloomberg.com/news/2012-06-22/moody-s-notices-that-banks-are-risky-four-years-too-late.html
7. http://www.bloomberg.com/news/2012-06-24/is-your-couch-trying-to-kill-you-.html

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