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The Latest Opinions From Bloomberg View

September 11, 2014

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WALL STREET
Matt Levine:Dollar General's hostile tender offer for Family Dollar "is not a real tender offer. You can try to give Dollar General your shares, but it's not actually going to buy them. The tender is conditioned on a bunch of other things, including Family Dollar waiving its poison pill and entering into a friendly merger agreement with Dollar General. ... I have in the past been a bit mystified by these fake tender offers, which usually have only symbolic force."
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WHITE HOUSE
Stephen Mihm:"President Barack Obama is asking Congress for its 'buy in' for military operations to combat Islamic State, which has captured large swaths of territory in Iraq and Syria. This approach, which puts Congress in the role of merely acceding to the president's request, isn't what the Founders imagined when they envisioned the powers of 'war and peace' in the new United States."
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INVESTING
Barry Ritholtz Chart:"Paul Macrae Montgomery, best known as the originator of the Time Magazine Cover Indicator, and for popularizing the Hemline Indicator of the stock market, died this weekend. He was 72. ... Long before behavioral economics became popular, he argued that standard economic theories 'overlooked the human factor in markets.'"
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TECH
Cass R. Sunstein:"The new Apple payment system has extraordinary promise. ... Skeptics have focused on questions of security and privacy, but prospective users might want to pause over a different problem: When payment becomes easier, and when people don't see the money they're handing over, they tend to spend a lot more."
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SPORTS
Kavitha A. Davidson:"There's revelry in State College, Pennsylvania, once again. But it's nothing to celebrate. ... The higher purpose of sanctioning Penn State's program went far beyond the idea of due punishment for a horrible crime. It was supposed to completely change a culture all too ready to look the other way and allow this to happen in the name of football."
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POLITICS
The Editors:"The contributions of the smallest state to the rest of the U.S. often go unheralded." Gina Raimondo, who won Rhode Island's Democratic gubernatorial primary Tuesday, could change that. "As state treasurer, Raimondo pushed through the boldest pension reform in the country several years ago. With the U.S. facing more than $1 trillion in unfunded pension liabilities, her victory provides a few valuable lessons for her fellow public officials -- Democrats especially."
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CARS
Edward Niedermeyer:Former Ferrari Chairman Luca Cordero di Montezemolo's company "became the gold standard for luxury car brands. So how did it come to such an ugly end?"
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HEALTH-CARE REFORM
Megan McArdle:"Over-the-counter birth control is an idea whose time has come -- if Democrats will let it."
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ISRAELIS/PALESTINIANS
Rami G. Khouri:"Palestinian Authority President Mahmoud Abbas is entangled in three critical but faltering relationships with Hamas, the U.S. and Israel. How he reconciles them will determine whether Israelis and Palestinians resume talking or fighting in the months ahead."
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TERRORISM
Jonathan Bernstein:"Norm Ornstein reminds us again that 13 years after the Sept. 11 attacks, Congress still hasn't bothered to undertake basic planning for continuity of government to respond to a horrific terrorist attack or anything else that suddenly incapacitates any or all branches of the U.S. government. This is a bipartisan, bicameral failure."
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MARIJUANA LEGALIZATION
@Bershidsky (Leonid Bershidsky):Ban propaganda, not drugs
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SENATE BATTLEGROUND
Francis Wilkinson:"If Democrats lose six seats this year, they will lose the Senate but still be well positioned for a comeback in 2016. ... If Democrats lose eight or nine seats, 2016 will suddenly look like a whole lot less fun."
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