The Great Debate

Why the federal government should help bail out Detroit

By Allison Schrager
June 2, 2014

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Starting last month, and continuing through July, Detroit’s 170,000 creditors will vote on the terms of the “Grand Bargain” that will end the city’s bankruptcy.

from Hugo Dixon:

EU needs more non-bank finance

By Hugo Dixon
June 2, 2014

The European Union needs more non-bank finance. Banks are on the back foot. On their own, they won’t be able to fund the jobs and growth the EU is desperate for. Non-bank finance needs to take up the slack.

Senate must rein in the NSA

By Elizabeth Goitein
June 2, 2014

An illustration picture shows the logo of the U.S. National Security Agency on the display of an iPhone in Berlin

The House of Representatives seemed poised last month to rein in the government’s ability to spy on its citizens by prohibiting the bulk collection of Americans’ telephone records. On the eve of the vote, however, the Obama administration and House leadership intervened. In secret negotiations, they took a carving knife to the bill, removing key privacy protections.

Let Japan help defend America — and itself

By Clyde Prestowitz
June 2, 2014

Members of Japan's Self-Defence Forces' airborne troops stand at attention during the annual SDF troop review ceremony at Asaka Base in Asaka

Japanese Prime Minister Shinzo Abe is now following through on actions laid out in his recent bold speech calling for Japan to defend allies who might be under attack.

What’s a leveraged ETF and what makes it dangerous?

By Ben Walsh
May 30, 2014

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Larry Fink is sounding the alarm. The chairman and CEO of $4.4 trillion asset manager BlackRock is worried about leveraged ETFs (exchange-traded funds). Fink thinks they could “blow up the industry.” His statement is a little unclear, but the industry he’s referring to is probably ETFs themselves, not the global financial system.

NFL: Last sports bastion of white, male conservatives

By Neal Gabler
May 30, 2014

New York Giants kicker Lawrence Tynes kicks the opening kick-off to start the first regular season game in the Giants new stadium against the Carolina Panthers in their NFL football game in East RutherfordBy almost any measure — TV ratings, the value of franchises, overall revenue, polls — the National Football League is by far both the most popular and successful professional sports league in America. A veritable juggernaut. Nothing seems to damage that popularity — not widely reported homophobia or the growing awareness of the dangers of head injuries or the accusations leveled in a lawsuit filed last week by 500 former players that they were pumped up with painkillers and sent back onto the field after being injured.

In Africa: U.S. promotes security, China does business

By Larry Hanauer and Lyle Morris
May 30, 2014

kerry-li4Secretary of State John Kerry and Chinese Premier Li Keqiang both made high-profile visits to Africa within a week of each other this month. Kerry sought to resolve the continuing violence in South Sudan and the Central African Republic, Li came bearing aid and investment deals.

from Breakingviews:

James Hoffa: Let sun shine on corporate donations

By Guest Contributor
May 29, 2014

By James Hoffa
The author is a Reuters Breakingviews guest columnist. The opinions expressed are his own.

Eyewitness Views: From hope to horror in Tiananmen Square

By Alan Chin
May 29, 2014


Eyewitness View: From hope to horror in Tiananmen Square On Changan Avenue, a small crowd confronts the People's Liberation Army (PLA) in Tiananmen Square after the army stormed the square and the surrounding area the night before. This is near the location a day later where "Tank Man" confronted and momentarily halted a column of the army's tanks leaving the square. (Alan Chin)June 4, 1989. In Chinese the reference is usually made with just the numbers “Six Four,” like in English, “9/11.” As the 25th anniversary of the Tiananmen ...

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Why Egyptians voted for Sisi

By Sarah Eltantawi
May 28, 2014

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Former army chief Abdel Fattah al-Sisi is set to win the presidential elections in Egypt this week, almost a year after Egypt’s military reasserted formal control following widespread revolts against Mohamed Mursi.