Weil's View on Finance, Afternoon Edition

Jonathan Weil joined Bloomberg News as a columnist in 2007, and his columns on finance and accounting won Best in the Business awards from the Society of American Business Editors and Writers in 2009 and 2010.
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The big news: Thousands of airplanes landed safely. And the Nasdaq Stock Market didn't crash. Good thing Steve Ballmer disclosed his retirement today instead of at noon yesterday so he didn't have to wait to watch Microsoft's stock jump 7 percent on the news that he's leaving the company. Anyway, now on to your afternoon links. Have a good weekend.

Ambrose Evans-Pritchard and Paul Krugman on emerging markets in trouble

The inky wretch from the U.K. says the rout threatens the wider global economy. The Princeton ideologue with a Nobel Prize who told the Fed in 2002 to "create a housing bubble to replace the Nasdaq bubble" says no big deal (with his fingers crossed behind his back). I'd go with the Brit on this one.

Weekend reading about the Federal Reserve

Binyamin Appelbaum of the New York Times has a well-researched opus on Ben Bernanke. It might come across as a bit too flattering, depending on what you think of the Fed's easy-money policies. But it's worth reading. So is Caroline Salas Gage's piece for Bloomberg News on how U.S. central bankers "had better get their communications right should they decide to taper their bond purchases."

Calling an end to the rally in Spanish and Italian bank stocks

From Bloomberg's Charles Penty and Sonia Sirletti: "The longest rally in southern Europe's banking stocks since the sovereign debt crisis began may prove unsustainable as the region's economies lag behind a recovery in Germany and France. Economic woes in Italty and Spain persist, meaning banks will probably be forced to set aside more provisions as consumers and businesses fall into default."

Snowden documents hitch a ride to the New York Times

The Guardian and the Times are teaming up, now that the British government has reminded the editors in London that their country doesn't really have press freedom. Or at least nothing quite like the First Amendment. Ben Smith of Buzzfeed has the story about the collaboration.

Where in the world is the Epicurean Dealmaker ?

E.D. has been gone for about a week, and I need my fix. Anyway, here's his last post, listing 10 reasons why E.D. isn't posting anymore. Someone please e-mail this "pseudonymous investment banker" a clever idea to steal and end his boredom so we can start reading his stuff again.

This column does not necessarily reflect the opinion of Bloomberg View's editorial board or Bloomberg LP, its owners and investors.

To contact the author on this story:
Jonathan Weil at jweil16@bloomberg.net