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A Quick Look at Bloomberg News's Opinion Section for June 15, 2012

JONATHAN WEIL: Why did Spanish banks appear to be doing so well in 2008
and 2009? They were using an accounting technique called dynamic
provisioning to "set aside rainy-day loan-loss reserves on their books
during boom years. The purpose, they said, was to build up a buffer in
good times for use in bad times. . . . European Union officials knew
this and let Spain proceed with its own brand of accounting anyway."
[Link]

WILLIAM PESEK: "Anyone who thinks their job stinks should consider the
one Xi Jinping is about to take on" -- replacing Chinese President Hu
Jintao in the fall. No issue "looms larger than China's suddenly shaky
economy. The world is now bracing for the slowdown that pundits said
was unlikely to happen." [Link]
Links:
1. http://us2.campaign-archive2.com/?u=98bac6cd6075b07f398b277fa&id=8d775d8659&e=002874f745
2. http://bloom.bg/LpMHiK
3. http://bloom.bg/LpMOea

VIRGINIA POSTREL: "The masterworks of three-dimensional art are joining
the digital commons. . . . Digital scans and inexpensive 3D printing
could do for three-dimensional art what prints have been doing for
paintings and drawings since the fifteenth century: make these works
familiar, beloved, and visually influential to people who will never
have a chance to see them in person." [Link]
Links:
4. http://bloom.bg/LpMQmp

STEVEN GREENHUT: California's new "top two" primary system -- in which
candidates from all parties compete, with the top two, regardless of
party, going on to the general election -- rewards "careerist
politicians, the so-called moderates who tout the same old status-quo
solutions." [Link]
Links:
5. http://bloom.bg/LpN39g

THE EDITORS: "The next Greek government will be led either by radicals
who have no experience of government, or by a party that has proved
itself incapable of reforming Greece's dysfunctional state." So on
Sunday, spare a thought to the ordinary Greek voter who has to choose.
[Link] And THE EDITORS write, President Obama's economic speech
won't break the political stalemate and we can't wait until November to
address the sluggish economy. Here's an idea that might placate both
sides: "pair a one-time tax rebate with long-term deficit reduction
similar to that offered by the Simpson-Bowles fiscal commission. Such a
move would allow Republicans to claim a spending-cut victory while
allowing Democrats to take credit for putting a sizeable check in
workers' pockets." [Link]
Links:
6. http://bloom.bg/LpNbp9
7. http://bloom.bg/LpNfVZ

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