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Share the View: Bill Gross Falls Short
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May 08, 2015
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<td style="padding-left: 15px; padding-right: 15px"><p><span class="top=c-title" style="font-family:'Arial Black', sans-serif;font-weight:bolder=color:#00b9e7;font-size:13px;text-transform:uppercase;line-height:1.6em"><= href="http://link.mail.bloombergview.com/55086a4c3b35d051538c37cc2kxpe.=5sd/VQoHU0mOo5ZTeiFgB986d" style="text-decoration:none;color:#00b9e7;lin=-height:1.6em">WALL STREET</a></span></p>
<p><span class="topic-contributor-name" style="font-family:'Arial Black=, sans-serif;font-weight:bolder;color:#333333;font-size:17px;line-height:1nm;text-transform:none">Matt Levine:</span> <span class="topic-contribu=or-quote" style="font-family:Georgia, serif;font-weight:normal;color:#3333;font-size:17px;line-height:1.6em;text-transform:none">So Bill Gross th=ught "that the 10-year bund was 'the short of a lifetime,' and he seemed t= have positioned his fund to bet against the bund, but as events worked ou= his bet against the bund seems to have been swamped by an offsetting bet =n the bund. It's a little reminiscent of the London Whale."</span> <span c=ass="topic-read-more" style="font-family:Arial, sans-serif;text-decora=ion:none;color:#00b9e7;font-weight:normal;font-size:17px;line-height:1.6em=text-transform:none"><a href="http://link.mail.bloombergview.com/55086a4;35d051538c37cc2kxpe.15sd/VUvvB0mOv-AQmEjZBdf81" style="text-decoration=none;color:#00b9e7;line-height:1.6em">Read more...</a></span> </p>
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<p><span class="topic-title" style="font-family:'Arial Black', sans-ser=f;font-weight:bolder;color:#00b9e7;font-size:13px;text-transform:uppercase=line-height:1.6em"><a href="http://link.mail.bloombergview.com/55086a4c35d051538c37cc2kxpe.15sd/VUuPM0mOPQm-WSoQB329e" style="text-decoration:n=ne;color:#00b9e7;line-height:1.6em">NATIONAL SECURITY</a></span></p>
<p><span class="topic-contributor-name" style="font-family:'Arial Black=, sans-serif;font-weight:bolder;color:#333333;font-size:17px;line-height:1nm;text-transform:none">The Editors:</span> <span class="topic-contribu=or-quote" style="font-family:Georgia, serif;font-weight:normal;color:#3333;font-size:17px;line-height:1.6em;text-transform:none">"It has long bee= clear that the National Security Agency's mass collection of U.S. phone r=cords was intrusive, unpopular and ineffective at preventing terrorism. No= a court has found it illegal, too."</span> <span class="topic-read-more= style="font-family:Arial, sans-serif;text-decoration:none;color:#00b9e7=font-weight:normal;font-size:17px;line-height:1.6em;text-transform:none"><= href="http://link.mail.bloombergview.com/55086a4c3b35d051538c37cc2kxpe.=5sd/VUvvB0mOv-AQmEjaBb554" style="text-decoration:none;color:#00b9e7;lin=-height:1.6em">Read more...</a></span></p>
<p><span class="topic-contributor-name" style="font-family:'Arial Black=, sans-serif;font-weight:bolder;color:#333333;font-size:17px;line-height:1nm;text-transform:none">Noah Feldman:</span> <span class="topic-contrib=tor-quote" style="font-family:Georgia, serif;font-weight:normal;color:#3333;font-size:17px;line-height:1.6em;text-transform:none">"Secret laws ar= anathema to democracy. The text of the Patriot Act wasn\u2019t secret,=but the government's legal interpretation of it was. Secret interpretation= of laws have the same effect as secret laws -- and are therefore just as ."</span> <span class="topic-read-more" style="font-family:Arial, sa=s-serif;text-decoration:none;color:#00b9e7;font-weight:normal;font-size:17=x;line-height:1.6em;text-transform:none"><a href="http://link.mail.bloom=ergview.com/55086a4c3b35d051538c37cc2kxpe.15sd/VUvvB0mOv-AQmEjbB24b5" styl="text-decoration:none;color:#00b9e7;line-height:1.6em">Read more...</a>=/span></p>
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<p><span class="topic-title" style="font-family:'Arial Black', sans-ser=f;font-weight:bolder;color:#00b9e7;font-size:13px;text-transform:uppercase=line-height:1.6em"><a href="http://link.mail.bloombergview.com/55086a4c35d051538c37cc2kxpe.15sd/VQoHU0mOo5ZTeiFiB2f56" style="text-decoration:n=ne;color:#00b9e7;line-height:1.6em">COMPANIES</a></span></p>
<p><span class="topic-contributor-name" style="font-family:'Arial Black=, sans-serif;font-weight:bolder;color:#333333;font-size:17px;line-height:1nm;text-transform:none">Stephen Mihm:</span> <span class="topic-contrib=tor-quote" style="font-family:Georgia, serif;font-weight:normal;color:#3333;font-size:17px;line-height:1.6em;text-transform:none">"The newly inst=lled chief executive officer of McDonald's, Steve Easterbrook, has announc=d a sweeping turnaround plan aimed at cutting annual costs by around $300 =illion at the struggling fast-food behemoth. Wall Street was unimpressed: =he stock fell after Easterbrook made his announcement. But a far important=constituency is also grumbling: the franchisees who own most of the outlet=."</span> <span class="topic-read-more" style="font-family:Arial, sans=serif;text-decoration:none;color:#00b9e7;font-weight:normal;font-size:17px=line-height:1.6em;text-transform:none"><a href="http://link.mail.bloombe=gview.com/55086a4c3b35d051538c37cc2kxpe.15sd/VUvvB0mOv-AQmEjcB5a7d" style="text-decoration:none;color:#00b9e7;line-height:1.6em">Read more...</a><=span></p>
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<p><span class="topic-title" style="font-family:'Arial Black', sans-ser=f;font-weight:bolder;color:#00b9e7;font-size:13px;text-transform:uppercase=line-height:1.6em"><a href="http://link.mail.bloombergview.com/55086a4c35d051538c37cc2kxpe.15sd/VQhSBUmO1EvsVeF1B04ac" style="text-decoration:n=ne;color:#00b9e7;line-height:1.6em">POLITICS</a></span></p>
<p><span class="topic-contributor-name" style="font-family:'Arial Black=, sans-serif;font-weight:bolder;color:#333333;font-size:17px;line-height:1nm;text-transform:none">Megan McArdle:</span> <span class="topic-contri=utor-quote" style="font-family:Georgia, serif;font-weight:normal;color:#3333;font-size:17px;line-height:1.6em;text-transform:none">"The optimal a=ount of corruption in any system is almost never zero, and that goes doubl= for politics."</span> <span class="topic-read-more" style="font-famil=:Arial, sans-serif;text-decoration:none;color:#00b9e7;font-weight:normal;f=nt-size:17px;line-height:1.6em;text-transform:none"><a href="http://link=mail.bloombergview.com/55086a4c3b35d051538c37cc2kxpe.15sd/VUvvB0mOv-AQmEjdZd9" style="text-decoration:none;color:#00b9e7;line-height:1.6em">Read =ore...</a></span></p>
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<p><span class="topic-title" style="font-family:'Arial Black', sans-ser=f;font-weight:bolder;color:#00b9e7;font-size:13px;text-transform:uppercase=line-height:1.6em"><a href="http://link.mail.bloombergview.com/55086a4c35d051538c37cc2kxpe.15sd/VQ8zgUmOo5ZTej6GB11a2" style="text-decoration:n=ne;color:#00b9e7;line-height:1.6em">ASIA</a></span></p>
<p><span class="topic-contributor-name" style="font-family:'Arial Black=, sans-serif;font-weight:bolder;color:#333333;font-size:17px;line-height:1nm;text-transform:none">The Editors:</span> <span class="topic-contribu=or-quote" style="font-family:Georgia, serif;font-weight:normal;color:#3333;font-size:17px;line-height:1.6em;text-transform:none">"Alarming new es=imates of North Korea\u2019s nuclear and missile capabilities have emer in recent weeks. ... Whether such estimates prove accurate, one thing i= clear: The sanctions now in place against North Korea aren\u2019t like=y to keep the stockpile from growing or force a change in the regime's thi=king."</span> <span class="topic-read-more" style="font-family:Arial, =ans-serif;text-decoration:none;color:#00b9e7;font-weight:normal;font-size:=7px;line-height:1.6em;text-transform:none"><a href="http://link.mail.blo=mbergview.com/55086a4c3b35d051538c37cc2kxpe.15sd/VUvvB0mOv-AQmEjeB8bde" st=le="text-decoration:none;color:#00b9e7;line-height:1.6em">Read more...</=></span></p>
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<p><span class="topic-title" style="font-family:'Arial Black', sans-ser=f;font-weight:bolder;color:#00b9e7;font-size:13px;text-transform:uppercase=line-height:1.6em"><a href="http://link.mail.bloombergview.com/55086a4c35d051538c37cc2kxpe.15sd/VQhSBUmO1EvsVeF8Ba7e8" style="text-decoration:n=ne;color:#00b9e7;line-height:1.6em">ASIAN ECONOMY</a></span></p>
<p><span class="topic-contributor-name" style="font-family:'Arial Black=, sans-serif;font-weight:bolder;color:#333333;font-size:17px;line-height:1nm;text-transform:none">William Pesek:</span> <span class="topic-contri=utor-quote" style="font-family:Georgia, serif;font-weight:normal;color:#3333;font-size:17px;line-height:1.6em;text-transform:none">"At the end of=Asian trading on Thursday, the Shanghai Composite Index had fallen 8.2 per=ent in three days, its worst performance since mid-2013. That was before J=ck Ma, chairman of China's e-commerce giant Alibaba, had his say. ... To a=yone who wondered whether the 105 percent rally in Shanghai shares over th= past year was over, Alibaba's success seemed to offer a sharp rejoinder. =ut Alibaba's position -- and the Chinese economy's -- is more ambivalent t=an it seems."</span> <span class="topic-read-more" style="font-family:=rial, sans-serif;text-decoration:none;color:#00b9e7;font-weight:normal;fon=-size:17px;line-height:1.6em;text-transform:none"><a href="http://link.m=il.bloombergview.com/55086a4c3b35d051538c37cc2kxpe.15sd/VUvvB0mOv-AQmEjfB5" style="text-decoration:none;color:#00b9e7;line-height:1.6em">Read mo=e...</a></span></p>
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<p><span class="topic-title" style="font-family:'Arial Black', sans-ser=f;font-weight:bolder;color:#00b9e7;font-size:13px;text-transform:uppercase=line-height:1.6em"><a href="http://link.mail.bloombergview.com/55086a4c35d051538c37cc2kxpe.15sd/VTg9VkmOoiN3hFRSB3da1" style="text-decoration:n=ne;color:#00b9e7;line-height:1.6em">IMMIGRATION</a></span></p>
<p><span class="topic-contributor-name" style="font-family:'Arial Black=, sans-serif;font-weight:bolder;color:#333333;font-size:17px;line-height:1nm;text-transform:none">Ramesh Ponnuru:</span> <span class="topic-contr=butor-quote" style="font-family:Georgia, serif;font-weight:normal;color:33333;font-size:17px;line-height:1.6em;text-transform:none">"If you like =resident Barack Obama's constitutionally dubious expansions of presidentia= power, you'll love President Hillary Clinton. ... Hillary Clinton now say= that she's willing to go even further than Obama in refusing to enforce i=migration laws -- even further, that is, than an administration that has a=ready pushed the limits of presidential power as far as they possibly coul=."</span> <span class="topic-read-more" style="font-family:Arial, sans=serif;text-decoration:none;color:#00b9e7;font-weight:normal;font-size:17px=line-height:1.6em;text-transform:none"><a href="http://link.mail.bloombe=gview.com/55086a4c3b35d051538c37cc2kxpe.15sd/VUvvB0mOv-AQmEjgB3d86" style="text-decoration:none;color:#00b9e7;line-height:1.6em">Read more...</a><=span></p>
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<p><span class="topic-title" style="font-family:'Arial Black', sans-ser=f;font-weight:bolder;color:#00b9e7;font-size:13px;text-transform:uppercase=line-height:1.6em"><a href="http://link.mail.bloombergview.com/55086a4c35d051538c37cc2kxpe.15sd/VQry30mOpKWLGBzoB0e9f" style="text-decoration:n=ne;color:#00b9e7;line-height:1.6em">TECH</a></span></p>
<p><span class="topic-contributor-name" style="font-family:'Arial Black=, sans-serif;font-weight:bolder;color:#333333;font-size:17px;line-height:1nm;text-transform:none">Leonid Bershidsky:</span> <span class="topic-co=tributor-quote" style="font-family:Georgia, serif;font-weight:normal;col=r:#333333;font-size:17px;line-height:1.6em;text-transform:none">"Self-driv=ng cars are the subject of more hype than even true artificial intelligenc=, perhaps because they already exist and a number of big companies are com=itted to making them a marketable reality. So it's worth listening when a =op executive of one of these companies says self-driving vehicles are a lo=g way off."</span> <span class="topic-read-more" style="font-family:Ar=al, sans-serif;text-decoration:none;color:#00b9e7;font-weight:normal;font-=ize:17px;line-height:1.6em;text-transform:none"><a href="http://link.mai=.bloombergview.com/55086a4c3b35d051538c37cc2kxpe.15sd/VUvvB0mOv-AQmEjhB362=" style="text-decoration:none;color:#00b9e7;line-height:1.6em">Read more=..</a></span></p>
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<p><span class="topic-title" style="font-family:'Arial Black', sans-ser=f;font-weight:bolder;color:#00b9e7;font-size:13px;text-transform:uppercase=line-height:1.6em"><a href="http://link.mail.bloombergview.com/55086a4c35d051538c37cc2kxpe.15sd/VRi3gUmO2J4QOdESBa0b6" style="text-decoration:n=ne;color:#00b9e7;line-height:1.6em">CONGRESS</a></span></p>
<p><span class="topic-contributor-name" style="font-family:'Arial Black=, sans-serif;font-weight:bolder;color:#333333;font-size:17px;line-height:1nm;text-transform:none">Jonathan Bernstein:</span> <span class="topic-c=ntributor-quote" style="font-family:Georgia, serif;font-weight:normal;co=or:#333333;font-size:17px;line-height:1.6em;text-transform:none">"Kudos fo= Virginia Senator Tim Kaine, who is trying to revive congressional action =n passing something to finally authorize the U.S. action against Islamic S=ate. And most of the other 534 members of the House and Senate? They shoul= be ashamed of themselves."</span> <span class="topic-read-more" style="font-family:Arial, sans-serif;text-decoration:none;color:#00b9e7;font-w=ight:normal;font-size:17px;line-height:1.6em;text-transform:none"><a href="http://link.mail.bloombergview.com/55086a4c3b35d051538c37cc2kxpe.15sd/V=vvB0mOv-AQmEjiB5096" style="text-decoration:none;color:#00b9e7;line-heig=t:1.6em">Read more...</a></span></p></td>
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