Subject: Share the View 2: A New Kind of Bank Settlement
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Date: Thu, 21 May 2015 12:46:47 -0400 (EDT)

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Share The View

The Latest Opinions From Bloomberg View

May 21, 2015

bloombergview.com=/a>

<= href="http://link.mail.bloombergview.com/55086a4c3b35d051538c37cc2mpq3.=4hm/VP9kIkmOpoExRQKQB5848" style="text-decoration:none;color:#00b9e7;lin=-height:1.6em">Banking

The Editors: "Five of the big=est banks in the world pleaded guilty Wednesday to criminal charges and es=entially admitted they defrauded their customers. What's significant about=this settlement -- beyond the $5.6 billion in fines the banks must pay -- =s that it marks the end of the practice of allowing banks to neither admit=nor deny wrongdoing."

Education

Sam Tanenhaus: "Can we expect=much from commencement speakers today? The truth is political correctness =s just one symptom of a broader malady. Argument itself has all but disapp=ared from public 'conversation.' The premium is on the simulacra of argume=t -- on opinions and points of view, on the flow of facts and data." Read more...

Declassified

Eli Lake: "The Israeli govern=ent is worried the Obama administration will allow a U.N. conference this =eek to adopt a resolution that could compel Israel to acknowledge its nucl=ar arsenal. ... At issue is whether Israel's policy of not acknowledging t=e nuclear weapons can survive." Read more...

Europe

Konstantine Gatsios and Dimitrio= A. Ioannou: "A widely told narrative of the economic =risis in Greece holds that it is the product of excessive austerity, impos=d by arrogant outsiders who misread the situation. The only way out, the s=ory goes, is to break the resulting recessionary spiral with a policy of f=scal stimulus. This account doesn't stand up to scrutiny and needs to be c=untered if the current brinkmanship over Greece's bailout is to end well."=Read more...

Politics

Megan McArdle: "Two recent ar=icles should give pause to Democrats, because they suggest that even if De=ocrats are on course to continue winning the presidency, those same forces=may be gutting their farm team." Read more...

Investing

Mark Gilbert: "There's a right and a wrong way to respond to Monday night's leak =f a change in the European Central Bank's bond-buying policy. The correct =eaction would be for U.K. regulators to investigate who might have profite= from the selective disclosure at a closed-door gathering of traders, econ=mists and central bankers. The wrong one would be for the bank to stop giv=ng the media texts of policy speeches in advance. Guess which path the ECB=is currently choosing?" Read more...

Economics

Noah Smith: There is a way to=neutralize the power of the Fed that could potentially overcome political =bstacles. "This is the notion of passing a law to tie the Fed’s in=erest-rate setting policy to a simple arithmetic rule. If that were done, =ost of the giant bureaucracy of our central bank could be replaced by an a=gorithm that could run on an app coded in an hour by a high school student=" Read more...<=span>

Middle East

Marc Champion: "In the midst =f a fiercely fought election campaign in Turkey, 19-year-old Mutlu Kaya ha= been shot in the head for entering a TV singing talent contest. Her pligh= would make a better campaign theme than the one President Recep Tayyip Er=ogan and his ruling party are using." =a href="http://link.mail.bloombergview.com/55086a4c3b35d051538c37cc2mpq3=14hm/VV4JI0mOZA0giDVtB2e23" style="text-decoration:none;color:#00b9e7;li=e-height:1.6em">Read more...

Transportation

Peter R. Orszag: Congress wil= extend the Highway Trust Fund for two months, because it hasn't been able=to agree to a more durable strategy to pay for America's roads. "In China,=where I am at the moment, things are different. Despite this country's muc= lower per capita income, Chinese drivers pay noticeably more in fees per =ile than American drivers do. The higher fees encourage people to use high=speed rail and other alternatives for getting around. And the money financ=s new and more efficient investments in highways." Read more...

News Roundup

Katie Benner (Read the news roundup)

UberX drivers in Australia must now pay the national 10 pe=cent Goods and Services Tax. Read more...

Linkin Park started a venture firm called Machine Shop Ven=ures, which has already invested in Lyft, Shyp and Robinhood. Read more...

Formation 8 had a first close on a new, dedicated hardware=fund that could ultimately hit $100 million. It's also raising a seed fund= Read more...

Barry Ritholtz (Read the news roundup)

Apple Watch and continuous computing: Read more...

Why on earth is Chris Christie still pretending to run for=president? Read more...

Seven years later, Wall Street hasn't learned anything. Read more...

Early Returns

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