This column highlights the most interesting and useful business and financial commentary from around the Web each day. Use our comments section to post your own suggestions for blog content that you've read or written.
"Once again America is having one of its “national conversations” on health care reform. This time the buzz is over arguments before the Supreme Court on the constitutionality of certain provisions in the Affordable Care Act. The justices’ rulings will be landmark decisions, because they will indirectly go much beyond the act itself to our entire system of governance." (For related content, see Health Insurers Hang on Big Supreme Court Day
"Some of Wall Street’s biggest banks are bracing for fallout from a possible cut in their credit ratings. Moody’s Investors Service
, one of the two big ratings agencies, has said it will decide in mid-May whether to lower its ratings for 17 global financial companies. Morgan Stanley
, which was hit hard in the financial crisis, appears to be the most vulnerable. Moody’s
is threatening to cut the bank’s ratings by three notches, to a level that would be well below the rating of a rival like JPMorgan Chase
The Capital Spectator
"It's human nature to emphasize the points that advance your claims while minimizing the facts that undermine it. We all do it in some degree, and sometimes for practical reasons, such as brevity. But there are limits to cherry picking the facts. At some point your credibility suffers if you go too far and slice your reasoning too thin. Yet that's a risk that advocates for reviving the gold standard don't seem to understand." (Also read When Will Platinum Be Pricier Than Gold?
"A growing number of indicators suggest that the market is running out of steam. Equities have been in a temporary sweet spot where investors have been factoring in a self-sustaining U.S. economic recovery while also anticipating the imminent institution of QE3. This is a contradiction. If the economy were indeed as strong as they say, we wouldn’t need QE3. The fact that market observers eagerly look forward toward the possibility of QE3 is itself an indication that the economy is weaker than they think. We can have one or the other, but we can’t have both."
"Google’s long-awaited tablet might finally be on the way to becoming a reality. For at least two years, there have been reports that the search giant was working on something that could compete with Apple’s iPad. A Google employee briefed on the project now says it will be out later this year. The employee declined to be named because the product has not been announced." (Also read Can IGM, Microsoft, Google Stand Against Apple Long-Term?
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