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The Two-Way
7:18 am
Fri May 11, 2012

JPMorgan 'Rogue Trader' Losses Send Chills Through Markets

Originally published on Fri May 11, 2012 9:46 am

"It was a bad strategy. It was badly executed."

The words of JPMorgan Chase's CEO, Jamie Dimon, as he admitted late yesterday that the investment bank — or, more precisely, a single "rogue trader" working for the bank, had lost some $2 billion in the last six weeks in risky hedge-fund trades.

The news has sent chills through the markets. Shares of JPMorgan Chase, the largest U.S. bank, lost 7 percent in after-hours trading and British bank Barclays lost 2.9 percent, while more than 2 percent was shaved from Royal Bank of Scotland.

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Business
5:11 am
Fri May 11, 2012

Freddie Mac Names Retired JPMorgan Official CEO

Mortgage broker Freddie Mac named Donald Layton as its new chief executive officer. Layton worked for JPMorgan Chase for nearly 30 years before retiring in 2004.

Around the Nation
5:10 am
Fri May 11, 2012

Alaska Man To Make Uninhabited Island His Home

Charles Baird will be alone on the island for one year. He'll able to send short text messages, but won't be receiving any. By freeing himself from all media, he expects to have enough time to make a documentary about himself.

Around the Nation
4:57 am
Fri May 11, 2012

18-Month-Old Girl Turns Up On No-Fly List

Originally published on Fri May 11, 2012 5:10 am

JetBlue Airways apologized after removing a passenger from her flight because she was on a no-fly list. The passenger looks innocent enough — maybe because she's 18 months old. Her mother told WPBF-TV in Florida that the idea her daughter is a threat was "absurd" and "made no sense."

Sports
3:34 am
Fri May 11, 2012

White Sox Groom Saladino For Big League Play

Originally published on Fri May 11, 2012 5:10 am

Transcript

DAVID GREENE, HOST:

This spring and summer, we're following two minor league baseball players. We're learning about the pressures on an athlete, the emotional highs and lows, and just what their lives are like. One of the players is a young man named Tyler Saladino. He's in the Chicago White Sox organization, and fans are excited about the future for this 22-year-old.

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