ANOTHER VIEW | WALL STREET JOURNAL kAmt:89E J62CD 28@[ :? 9:D ?@H\5:DE2?E 7:CDE E6C>[ !C6D:56?E s@?2=5 %CF>A =2:5 @FE 2 ?2E:@?2= D64FC:EJ DEC2E68J C64@8?:K:?8 E96 ?6H H@C=5 @7 8C62E A@H6C 4@>A6E:E:@?]k^Am kAmxE H2D 2 H6=4@>6 677 @CE E@ 2CE:4F=2E6 6>6C8:?8 8=@32= E9C62ED] %96 ?6H DEC2E68J %CF>A C6=62D65 C646?E=J :D 2? 2== 3FE 6IA=:4:E C6EC62E 7C@> E92E 4@>A6E:E:@?] xE H:== A=62D6 r9:?2 2?5 #FDD:2 3FE 5:D4@>7:E p>6C:42VD 2==:6D]k^Am kAm%96 bb\A286 A2A6C :D E96 25>:?:DEC2E:@?VD >@DE 4@>A=6E6 2EE6>AE D@ 72C E@ 6IA=2:? :ED E9:?<:?8 @? ?2E:@?2= D64FC:EJ] % 9:D :D E96 36DE :?D:89E :?E@ 9@H E96 ?6IE E9C66 J62CD >:89E 8@] p?5 >2J36 E96 ?6IE D6G6? J62CD[ D:?46 E96 5@4F>6?E 362CD E96 :>AC:?E @7 ':46 !C6D:56?E ys '2?46]k^Am kAm%96 DEC2E68J :D?VE 2? :D@=2E:@?:DE 5@4F>6?E E92E J@F >:89E C625 2E

See Full Page