Subject: Share the View 2: Banking's Biggest Lie
From: "Bloomberg View" <[email-masked]>
To: <[email-masked]>
Date: Wed, 10 Sep 2014 10:06:57 -0600

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The Latest Opinions From Bloomberg View

September 10, 2014

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COMPANIES 
Mohamed A. El-Erian:"A recent visit to a hectic Starbucks store near Times Square in New York reminded me of one of the great achievements of real entrepreneurship and inspired innovation: taking an existing technology and turning it into something much more transformational in meeting -- and often forming -- the demands and needs of customers."
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SENATE BATTLEGROUND 
Margaret Carlson:"Bob Smith may not have been the greatest legislator in his two terms as a U.S. senator from New Hampshire, but at least he was from the state he was running in. That can't be said of the winner Tuesday night in the New Hampshire Republican Senate primary, Scott Brown."
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BANKING 
Barry Ritholtz:"Yesterday, we looked at why bankers weren't busted for crimes committed during the financial crisis. Political corruption, prosecutorial malfeasance, rewritten legislation and cowardice on the part of government officials were among the many reasons. But I saved the biggest reason so many financial felons escaped justice for today: They dumped the cost of their criminal activities on you, the shareholder."
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SCIENCE 
E.O. Wilson:"You may occasionally hear human societies described as superorganisms. This is a bit of a stretch. It is true that we form societies dependent on cooperation, labor specialization and frequent acts of altruism. ... Human beings seek their own destiny. They will always revolt against slavery, and refuse to be treated like worker ants."
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Noah Smith:"People need to be constantly reminded of all the amazing things science has given our civilization. But reminding must not give way to condescension toward the scientifically uneducated."
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CHINA 
Adam Minter:"Occupy Central, the pro-democracy movement that threatened to shut down Hong Kong's central business district if China didn't heed its reform demands, says it's about to make good on its promise."
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2016 ELECTIONS 
Francis Barry:"If Hillary Clinton runs for the White House and wins, she would make history -- not only as the first female president, but also as the first Democratic candidate since before the Civil War to win the presidency after a failed first run for the office."
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INDIA 
Dhiraj Nayyar:"The reasons for India's weak e-commerce market are well-known. The biggest challenge is the country's low Internet penetration level. ... Despite those drawbacks, competition in the nascent field of e-commerce is fierce."
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TECH 
Leonid Bershidsky:"With typical immodesty, Apple presented yesterday its new payment system, Apple Pay, as if it had invented near-field communication -- the more-than-a-decade-old technology that is already widely used for contactless payments."
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U.K. 
Mark Gilbert:"I'm a big believer in the wisdom of crowds and in following the money to parse the likely outcome of any situation where there's a profit to be made from correct anticipations. When it comes to Scotland's Sept. 18 vote on whether to declare independence, though, the data is tricky."
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NEWS ROUNDUPS 
Jonathan Bernstein 
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(Read the News Roundup) 
	- From Sarah Binder, a nice graph showing circuit court nomination delays in the postwar era.
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	- Henry Farrell passes along the research explaining a "festering toxic mess." 
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	- Harold Pollack interviews Rick Perlstein about his new book on the rise of Ronald Reagan.
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Barry Ritholtz 
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	- Venture Firms Fret as Y Combinator Soars 
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	- A Look at the World's First Water-Focused Hedge Fund 
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	- Harvard is a real estate venture and hedge fund that happens to have a college attached 
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Matt Levine 
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	- There are no take-privates.
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	- Bill Ackman is still mad at Allergan. 
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	- Some fun from Basel.
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