Weil's View on Finance
Good morning, View fans. Here is a look at some of my breakfast reading today.
Wall Street banks get their way with the CFTC
Silla Brush and Robert Schmidt of Bloomberg News have the inside story about how the banking industry and its allies forced Gary Gensler, the head of the Commodity Futures Trading Commission, to back down from some of his most far-reaching proposals to rein in derivatives trading. Wall Street wins again.
Dual-class stock structures at tech companies
Steven Davidoff of the New York Times looks at Silicon Valley companies, including Google and Facebook, where the founders have kept voting control after taking them public. Bad idea, he writes. (It almost always is.)
A migrant couple’s boat journey from Myanmar
Rachel Pannett has a compelling story in the Wall Street Journal about a young couple from Myanmar who left their country in search of a new home. Their trip highlights a major regional issue: “the swelling tide of ships carrying refugees toward Australia.”
The worst is over for Europe?
It is for now, writes Market Watch columnist Matthew Lynn, long one of the most prescient pundits on the region's financial crisis. He suggests five ways “to invest in the euro-zone revival,” including the British stock market: “Investors can buy into the euro-area recovery via British stocks without any of the risk of locking themselves into a currency that still may not survive in the long term. As Europe strengthens, so will the U.K.”
Mr. Bezos goes to Washington
He is buying the Washington Post. So the Amazon.com billionaire visited its newsroom yesterday, where “he maintained a genial, inquisitive manner punctuated by occasional outbursts of laughter,” according to the newspaper’s own account. Today: Breakfast with Bob Woodward.
(Jonathan Weil is a Bloomberg View columnist. Follow him on Twitter.)