Subject: Share the View: Bill Gross Falls Short
From: "Bloomberg View" <[email-masked]>
To: <[email-masked]>
Date: Fri, 8 May 2015 05:00:13 -0400 (EDT)

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Share The View

The Latest Opinions From Bloomberg View

May 08, 2015

bloombergview.com=/a>

<= href="http://link.mail.bloombergview.com/55086a4c3b35d051538c37cc2kxpe.=5sd/VQoHU0mOo5ZTeiFgB986d" style="text-decoration:none;color:#00b9e7;lin=-height:1.6em">WALL STREET

Matt Levine: So Bill Gross th=ught "that the 10-year bund was 'the short of a lifetime,' and he seemed t= have positioned his fund to bet against the bund, but as events worked ou= his bet against the bund seems to have been swamped by an offsetting bet =n the bund. It's a little reminiscent of the London Whale." Read more...

NATIONAL SECURITY

The Editors: "It has long bee= clear that the National Security Agency's mass collection of U.S. phone r=cords was intrusive, unpopular and ineffective at preventing terrorism. No= a court has found it illegal, too." <= href="http://link.mail.bloombergview.com/55086a4c3b35d051538c37cc2kxpe.=5sd/VUvvB0mOv-AQmEjaBb554" style="text-decoration:none;color:#00b9e7;lin=-height:1.6em">Read more...

Noah Feldman: "Secret laws ar= anathema to democracy. The text of the Patriot Act wasn’t secret,=but the government's legal interpretation of it was. Secret interpretation= of laws have the same effect as secret laws -- and are therefore just as =ad." Read more...=/span>

COMPANIES

Stephen Mihm: "The newly inst=lled chief executive officer of McDonald's, Steve Easterbrook, has announc=d a sweeping turnaround plan aimed at cutting annual costs by around $300 =illion at the struggling fast-food behemoth. Wall Street was unimpressed: =he stock fell after Easterbrook made his announcement. But a far important=constituency is also grumbling: the franchisees who own most of the outlet=." Read more...<=span>

POLITICS

Megan McArdle: "The optimal a=ount of corruption in any system is almost never zero, and that goes doubl= for politics." Read =ore...

ASIA

The Editors: "Alarming new es=imates of North Korea’s nuclear and missile capabilities have emer=ed in recent weeks. ... Whether such estimates prove accurate, one thing i= clear: The sanctions now in place against North Korea aren’t like=y to keep the stockpile from growing or force a change in the regime's thi=king." Read more...

ASIAN ECONOMY

William Pesek: "At the end of=Asian trading on Thursday, the Shanghai Composite Index had fallen 8.2 per=ent in three days, its worst performance since mid-2013. That was before J=ck Ma, chairman of China's e-commerce giant Alibaba, had his say. ... To a=yone who wondered whether the 105 percent rally in Shanghai shares over th= past year was over, Alibaba's success seemed to offer a sharp rejoinder. =ut Alibaba's position -- and the Chinese economy's -- is more ambivalent t=an it seems." Read mo=e...

IMMIGRATION

Ramesh Ponnuru: "If you like =resident Barack Obama's constitutionally dubious expansions of presidentia= power, you'll love President Hillary Clinton. ... Hillary Clinton now say= that she's willing to go even further than Obama in refusing to enforce i=migration laws -- even further, that is, than an administration that has a=ready pushed the limits of presidential power as far as they possibly coul=." Read more...<=span>

TECH

Leonid Bershidsky: "Self-driv=ng cars are the subject of more hype than even true artificial intelligenc=, perhaps because they already exist and a number of big companies are com=itted to making them a marketable reality. So it's worth listening when a =op executive of one of these companies says self-driving vehicles are a lo=g way off." Read more=..

CONGRESS

Jonathan Bernstein: "Kudos fo= Virginia Senator Tim Kaine, who is trying to revive congressional action =n passing something to finally authorize the U.S. action against Islamic S=ate. And most of the other 534 members of the House and Senate? They shoul= be ashamed of themselves." Read more...

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For media inquiries, contact Jill Watanabe at j=[email-masked].

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