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The Latest Opinions From Bloomberg View

November 25, 2014

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FERGUSON
Noah R. Feldman: "When was the last time you heard of a grand jury decision causing a riot? Well ... never. That's because grand juries are obscure relics of past practice, not designed to bear the full weight of a politically and symbolically important decision like the nonprosecution of police officer Darren Wilson for the death of Michael Brown in Ferguson, Missouri."
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Leonid Bershidsky: "The Russian state propaganda machine is full of schadenfreude about the Ferguson events. After all, it's a very post-Soviet kind of story: Cop kills underprivileged local, gets off scot-free, people riot. Can the U.S., with all its raw power and all its pride in the fairness of public institutions, do a better job of handling the protests than President Vladimir Putin or ousted Ukrainian President Viktor Yanukovych would?"
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WALL STREET
Barry Ritholtz: "The quality of our discourse is decaying. This was once a standard complaint about the tone and depth of our national political debate. Now it has spilled into the financial realm."
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ECONOMICS
Noah Smith: "The 17th-century French mathematician Blaise Pascal had what he thought was a great reason to believe in God -- it's all about expected utility. ... Even if the chance that God exists is infinitesimally small, the downside is so huge that you would be a fool not to believe. Nassim Taleb, author of 'The Black Swan' and other books, believes that there are other such wagers around," including the question of genetically modified food.
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CONGRESS
Ramesh Ponnuru: Douglas Elmendorf, the respected economist, is now the subject of an intra-Republican debate "that has broken out since the midterm elections. Democrats appointed Elmendorf to his position, and now that Republicans will control both houses of Congress they can replace him. They're divided about whether they should, and their debate suggests a deeper flaw in a very important government office."
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NEWS ROUNDUPS
Barry Ritholtz
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(Read the News Roundup)
- Hedge Funds Lose Money for Everyone, Not Just the Rich
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- How Macquarie Makes Money By Losing Money on Toll Roads
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- After Recession, Home-Remodeling Is on the Rise
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Matt Levine
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- It's fun to get angry about stocks.
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- Speaking of social media information efficiency:
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- How did Goldman do on its derivatives trades with Libya?
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Zara Kessler on What's Popping
-
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Celebrities discuss Ferguson on social media.
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Macklemore was seen marching in Seattle's protest. "TV Station Apologizes for 'Dancing With the Stars' Ferguson Tweet."
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- "'Frozen' merchandise is the most coveted toy for girls this holiday season, knocking Barbie from the No. 1 position for the first time, according to a survey from the National Retail Federation."
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- "How Budweiser Lost Millennials."
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IMMIGRATION
Cass R. Sunstein: "Both sides in the debate over President Barack Obama's immigration reforms have offered simple legal arguments. According to critics, the president is acting unlawfully by defying acts of Congress and arrogating the authority of a king. According to supporters, Obama is acting within his broad discretion as chief executive to deport those he thinks should be deported and let others stay in the U.S. But the administration's own legal analysis is much subtler and more precise."
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UKRAINE CRISIS
Bershidsky: "If the West keeps telling Ukraine that its efforts are futile, if it keeps frowning snobbishly as Ukraine stumbles and sometimes backslides, Russian President Vladimir Putin will ultimately have his way, and see the country forget its European aspirations."
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INDIA
Dhiraj Nayyar: "In the winter parliament session which begins this week, Indian Prime Minister Narendra Modi's government is aiming to pass several reforms meant to reduce the state's role in the economy. For them to work, however, Modi needs to fix one area the state cannot exit: India's horrifically dysfunctional legal system."
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