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A Quick Look at Bloomberg News's Opinion Section for July 24, 2012

THE EDITORS: “It’s hard to see how Libor can be fixed. What the market
needs is a benchmark based on a large volume of actual, observable
loans, one that is highly resistant to manipulation.” [Read more]
And in Europe, THE EDITORS write, Spain’s bond yields surging to new
highs Monday was another reminder to EU leaders that “the European
Central Bank must act as lender of last resort to the euro area’s
distressed sovereign borrowers.” [Read more]
Links:
1. http://us2.campaign-archive2.com/?u=98bac6cd6075b07f398b277fa&id=c67a0915b8&e=002874f745
2. http://bloom.bg/ME43KY
3. http://bloom.bg/ME40Pi

BETSEY STEVENSON and JUSTIN WOLFERS: There isn’t as much disagreement
among economists about how to manage the U.S. economy as we've been led
to believe. In fact, “the debate in Washington about economic policy is
phony. It’s manufactured. And it’s entirely political.” [Read more]
Links:
4. http://bloom.bg/ME48P1

JEFFREY GOLDBERG: “Vertigo sets in early each day because so much of
what is happening now in the Middle East is thoroughly improbable, and
volatile." If Syria's government falls, for instance, “a full-blown
sectarian civil war is possible, with spillover into Iraq and Lebanon
and perhaps Israel.” [Read more]
Links:
5. http://bloom.bg/LJXdpF

RAMESH PONNURU: The Obama administration is “on shaky ground as a
matter of both law and politics” in the Department of Health and Human
Services’s efforts to waive states of the welfare-reform law's “work
requirement.” [Read more]
Links:
6. http://bloom.bg/LJX7hR

BILL MOLLAN: Puzzled by some Olympic events? The games once included
swimming obstacle races, croquet, rugby, tug of war and native mud
fighting. “Until the mid-1920s, the events were chosen ad hoc by the
local organizing committees.” [Read more]
Links:
7. http://bloom.bg/ME3Bwk

GARY SHILLING: College is still the key to financial well-being, but
“the recent flare-up over huge student-loan balances, especially among
jobless recent college graduates, is exposing deep flaws in the way
higher education is financed.” [Read more]
Links:
8. http://bloom.bg/ME3Kjt

WILLIAM PESEK: “Korea's per-capita income now rivals New Zealand's,
Israel's and Greece's, and the economy is growing about 3 percent a
year even as Europe crashes" Why, then, in a study of 32 countries, are
South Koreans the second-most-unhappy people? [Read more]
Links:
9. http://bloom.bg/ME3UHB

ILIAN SCARLATOV: “It isn't every day that Bulgaria, still the poorest
country in the European Union, is held up as a role model.” But for
Greece, following Bulgaria’s economic example makes sense. [Read
more]
Links:
10. http://bloom.bg/ME4eGc

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