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Cruz's Veep Pick Reveals His Desperation

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Cruz Makes a Risky Bet on Fiorina

When perennial Republican runner-up Ted Cruz announced Wednesday that he'd chosen Carly Fiorina as his running mate, he was probably hoping to energize his campaign before the critical Indiana primary. But Jonathan Bernstein says gambling on a running mate is a sign of a very weak hand. 

Trump's New Slogan Has Nazi-Era Baggage 

Also on Wednesday, Donald Trump laid out his "America First" foreign-policy platform. If that phrase sounds familiar, it's because Charles Lindbergh used it -- to call for American neutrality toward Nazi Germany. Eli Lake says the speech only went downhill from there.  

What the Fed Statement Signals and Why

The Federal Reserve kept interest rates stable on Wednesday, but Mohamed A. El-Erian says the policy makers' more hawkish tone signals that a June increase is increasingly likely. 

Surprise! The Free Market Isn't Killing You

Sorry, George Monbiot, but "neoliberalism" isn't to blame for loneliness, eating disorders, and everything else wrong with the world. Noah Smith sees a sad irony: Just as zealots once oversold the benefits of laissez-faire economics, detractors now take their critique too far.

Theranos and the Blood-Testing Delusion

The high-flying biotech firm Theranos, once valued at $9 billion, now faces government sanctions and a criminal investigation. Why did so many investors place their trust in the secretive startup? Faye Flam blames misguided faith in the power of medical testing.

Terrible People Have Free Speech Rights, Too

Crackpot theories shouldn't get a tenured professor fired, Noah Feldman says -- not even if that professor argues the Sandy Hook massacre and Boston Marathon bombing were elaborate government hoaxes.  

Ritholtz's Reads

(Read Barry Ritholtz's full daily news roundup.)

Bloomberg Gadfly 

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