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A quick look at Bloomberg News's opinion section

June 18, 2014For more, visit
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MIDDLE EAST: "Nothing demonstrates more vividly the mess Iraq has become than the prospect of Iran and the U.S. discussing whether they can cooperate to fix it," the Editors write. "If the last decade-plus of warfare in Iraq and Afghanistan have taught the U.S. anything, it is that even its military might cannot stabilize fractured states if neighboring powers are working to prevent it. Ignoring that lesson would be the greater folly: The U.S. has vital interests at stake in Iraq and very limited options."
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POLITICS:

Francis Wilkinson: "The Republican Party's recurring dilemma -- jump into the deep end of the ideological pool and drown, or just dip your toe in and pretend you're all wet? -- was evident in Representative Eric Cantor's stunning primary loss last week. ... I blame Ronald Reagan."
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Margaret Carlson: "The Tea Party, joined by right-wing populists who just don't want to take it anymore, took out House Majority Leader Eric Cantor last week, and they didn't even get a lousy T-shirt for their trouble. ... Despite its big win, what the Tea Party wing in Congress has is what it's always had: the ability to say no, to wreak havoc and to generally make House Speaker John Boehner's life miserable."
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Jonathan Bernstein: "What are the big changes in U.S. national political institutions over the last 25 years?" Perhaps the most important one "is the atrophied capacity of the U.S. Congress."
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GUNS: The Editors: "U.S. Supreme Court Justice Antonin Scalia has just slyly pointed out how crazy U.S. gun laws are. Scalia's typically scathing dissent in the court's 5-4 decision this week prohibiting straw buyers from purchasing guns, along with the majority's suspiciously reasonable opinion, exposes Congress's legislative failure."
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REGULATION: A big chunk of Lois Lerner's e-mail has disappeared from the critical period during which some suspect she may have coordinated with the White House to target conservative nonprofits for special attention. Megan McArdle: "My conclusion: It is plausible that this was an innocent coincidence. But it is only plausible if the IRS is managing its IT systems so badly that it is very easy to lose critical records."
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CLIMATE CHANGE: Tom Zeller Jr.: "Ignoring the issue of climate change is no longer a viable political strategy, and the Republican Party risks its fortunes in 2016 and beyond by keeping its collective head in the sand."
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INVESTING: Emerging markets or U.S. stocks?:
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Barry Ritholtz Chart

TAXES: "Don't knock Minneapolis-based medical equipment maker Medtronic Inc. for doing the biggest tax inversion deal in U.S. history: It makes perfect sense for the company's shareholders," Leonid Bershidsky writes. "If it isn't a particularly patriotic move, that's because the U.S. is ignoring the obvious solution to its corporate emigration problem."
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WALL STREET: @matt_levine (Matt Levine): I wrote about short-dated out-of-the-money call options.
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