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A quick look at Bloomberg News's opinion section

February 7, 2013 For more, visit
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FROM THE EDITORS

U.S.: "Calling on Congress to pass a limited package of spending cuts and tax changes, U.S. President Barack Obama gave lawmakers license this week to go small and leave the big, bad kahuna of deficit reduction for another day. He's right. Congress should move quickly to come up with $85 billion to offset the first installment of the $1.2 trillion in mandatory across-the-board budget cuts, which will go into effect March 1."

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S&P: "The temptation to cheer the federal government's lawsuit against Standard & Poor's for the AAA- ratings it slapped on securities that promptly blew up is understandable. . . . But it's also too bad the U.S. Justice Department didn't find a way to take on the legal defense that's at the heart of the ratings business."


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COMMENTARY

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Ezra Klein

"The Republican establishment is reasserting control. It's purging some of the hucksters who'd taken the party's reins -- or at least the airtime -- in recent years. . . . Just don't call this process moderation. The Republican Party isn't reinventing itself so much as reverting to its previous form."

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Caroline Baum

"Word of mouth is a powerful marketing tool. What if the words turn out to be inaccurate?" My interest is in the narrative "created by the political class and business leaders, then dutifully promulgated by the news media, on the effect that 'uncertainty' was having on the U.S. economy in the months leading up to the fiscal cliff."

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Jonathan Weil

"Oh, the poor suckers at Citigroup Inc. and Bank of America Corp., fooled about the stench of their own garbage by those sneaky credit raters at Standard & Poor's."
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Jonathan Mahler

"As you may know, the latest sports doping 'scandal' involves a banned performance-enhancing drug derived from -- I am not making this up -- deer antlers. . . . What we have here, in the words of Millard Baker, who has been studying PEDs for more than a decade and runs the website thinksteroids.com, is 'an imaginary steroid scandal.'"

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Megan Greene

"Investors worried about Spain's political stability have been dumping their Spanish holdings and pushing up the country's borrowing costs after the eruption late last week of a corruption scandal involving Prime Minister Mariano Rajoy."

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W. Michael Cox & Richard Alm

Last week Republican Governor Rick Perry of Texas said he "wants Texas to return unspent money to the taxpayers." But rebate plans "have the same fatal flaw as requirements to balance budgets -- they don't impose enough restraint on the size of government."
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Michael D. Tanner
"Few government programs seem as sacrosanct as funding for medical research. . . . This week, Eric Cantor, the second-ranking House Republican, called for continued government funding for such research. . . . Yet there is no reason that government medical research shouldn't receive the same critical scrutiny as any other program."
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FROM THE BLOGS

The Ticker

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William Pesek on the dark side of ending Japan's deflation
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Echoes

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Cyrus Veeser on how Wall Street took over the Dominican Republic
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The Ticker


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Mark Whitehouse on the omission in Royal Bank of Scotland's Libor settlement
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