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A Quick Look at Bloomberg News's Opinion Section for Feb. 29, 2012

"On leap day, let us pause to consider the future of a much smaller time
correction: the leap second," write the View editors, who don't waste a
second in calling for a longer pause. "Last month in Geneva, the
International Telecommunication Union, an arm of the United Nations that
manages timekeeping, postponed for three years a decision on whether to
abolish leap seconds altogether. This much-needed delay will allow the world
to assess exactly what it might cost scientists, computer engineers and the
rest of us to lose a tiny but powerful mechanism for keeping track of real
time."[2] Link.
Links:
2. http://bloom.bg/wyu63A

"Washington had Watergate, Italy Bunga Bunga-gate, London Murdoch-gate,"
notes View columnist William Pesek. "Now, Hong Kong brings us Basement-gate.
It’s a scandal that many of us outside the city of 7 million might find hard
to fathom. Henry Tang, the favorite to be Hong Kong’s next leader, has an
illegal basement. In my mind, that’s only a problem if you are storing
drugs, trafficking humans or evading taxes. For Hong Kong residents squeezed
by surging rents and living costs, Tang’s underground aerie, which he built
without a government permit, is outrageous enough. Even as poverty in Hong
Kong rises, Tang’s hidden wonderland contains a Japanese-style sauna,
well-stocked wine cellar, dance studio and theater, according to local
media." Ah, we envy Tang now, but wait he has to bring out the mop and
bucket in typhoon season ... [3]Link.
Links:
3. http://bloom.bg/xTNBWe

In the last year Greeks have faced default, euro expulsion, anarchist
insurrection and rampant wildfires -- so what's their real problem? "Among
all the trials and tribulations that define Greece these days, one that has
received relatively little attention is its sky-high smoking rate," writes
View columnist Peter Orszag. "Greece’s is the highest in the Organization
for Economic Cooperation and Development. Greece is an outlier also in that
its smoking rate has risen significantly over the past decade. The
country’s fiscal crisis may therefore have a silver lining: It has forced
the government to raise tobacco taxes modestly, and this already appears to
be reducing smoking rates. Still, much more could be done."[4] Link.
Links:
4. http://bloom.bg/xgTude

"The Mad Men of the Republican Party have captured another convert," reports
columnist Margaret Carlson. "Scott Brown, the otherwise severely moderate
senator from Massachusetts who won Ted Kennedy’s seat in a special election
two years ago, has signed on as a co-sponsor of the Blunt amendment.
Fastened to the highway bill that will be voted on as soon as this week, the
amendment essentially takes the deal the Obama administration gave Catholic
bishops on contraception coverage and extends it to any employer or
insurance company that finds a health service runs afoul of its 'religious
belief' or 'moral conviction.' Although primarily about birth control, the
amendment is so broadly written it could allow Burger King to refuse to
cover testing its employees for cholesterol because doing so might crimp its
deep religious belief in hamburger patties (and be self-incriminating to
boot)." [5]Link.
Links:
5. http://bloom.bg/A1mVJI

Also, the editors look at the Fed's efforts to open up; columnist Clive
Crook thinks America's real enemy is itself; and op-ed contributor Tim Ryan
thinks the Volcker Rule can afford to relax.

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