Originally published on Fri July 13, 2012 10:33 am
For all the chatter that the winner of the 2012 presidential election will be determined by the economy, you wouldn't know it by looking at the most closely contested states.
The recovery is still tepid in most parts of the country, and there's a sense of trepidation that signs of improvement might not last. Among the swing states, some are doing comparatively well while others are struggling — but the political picture looks roughly the same in all.
The reporter who last year broke the news that former Penn State assistant football coach Jerry Sandusky had been accused of sexually abusing young boys today helps answer some very interesting questions:
The largest bank in the U.S., JPMorgan Chase, this morning released its second quarter results. It's net income was $5 billion, but it turns out that loses in a failed hedging strategy involving a secretive trader were much higher than what the bank originally said the loss would be. In fact, JPMorgan lost $4.4 billion last quarter on those risky trades.
As NPR's Yuki Noguchi reports, that's not the full extent of the firm's damage.
The grim numbers vary and independent observers haven't yet been able to get to the scene. But there's word from Syria of what may be the single worst day of bloodshed so far in what's become a long line of such horrible events since protests against the regime of President Bashar Assad began in March 2011:
Good morning. I'm Steve Inskeep. People in Beirut are sick of political protests across the country. Protesters have been blocking highways with burning tires. So there was only one thing to do. Yesterday, they held a protest using tires against protests using tires. Instead of burning the tires in the street, they painted the tires many colors. The protesters held up signs reading: We are tired. And a police officer refused to ticket them, saying, their tires are pretty. It's MORNING EDITION. Transcript provided by NPR, Copyright NPR.
Originally published on Fri July 13, 2012 12:30 pm
Though it suffered an estimated $4.4 billion second-quarter loss related to its bungled trading in some very risky types of investments, JPMorgan Chase said this morning that it still did well enough in its other businesses that it had net income of $5 billion in those three months.