4:52pm

Fri May 11, 2012
Business

What Caused JPMorgan's Loss Of $2 Billion?

Originally published on Fri May 11, 2012 5:35 pm

Audie Cornish speaks with Gregory Zuckerman about one of the men behind JPMorgan Chase's $2 billion loss. He's a special writer for The Wall Street Journal and author of The Greatest Trade Ever.

4:41pm

Fri May 11, 2012
Mitt Romney

Romney Shifts Gears On Auto Industry Bailout

Originally published on Fri May 11, 2012 4:52 pm

Republican presidential candidate Mitt Romney arrives for a town hall-style meeting at Stamco Industries, a truck parts supplier, in Euclid, Ohio, on Monday.
Jae C. Hong AP

Mitt Romney is from Michigan, a state he has said he hopes to win in November. But the likely Republican presidential nominee has very publicly opposed the government bailout of the auto industry.

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4:23pm

Fri May 11, 2012
The Two-Way

A Helpful Reminder: This Sunday Is Mother's Day

Call your mom. Buy her a present. Give her a big hug and kiss. (And don't forget the mother of your children.)

To all our mom readers, Happy Mother's Day!

We'll leave you with a link to a great piece from Bloomberg, which takes us back to the somber beginnings of the holiday. Bloomberg writes in part:

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3:56pm

Fri May 11, 2012
The Two-Way

William Balfour Found Guilty In Murder Of Jennifer Hudson's Family

William Balfour.
HO AFP/Getty Images

A jury has found William Balfour guilty of killing three members of Grammy-award winning singer Jennifer Hudson's family.

Balfour, Hudson's ex-brother in law, was found guilty on all three counts of first-degree murder for the 2008 shooting deaths of Hudson's mother, brother and 7-year-old nephew. The Chicago Sun-Times adds that he was also convicted of "home invasion, aggravated kidnapping, residential burglary and possession of a stolen motor vehicle."

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3:35pm

Fri May 11, 2012
Election 2012

For Evangelicals, Romney Is The Lesser Of Two Evils

Originally published on Fri May 11, 2012 4:52 pm

Experts say that in order to win this year's election, presumptive Republican presidential nominee Mitt Romney will not just have to satisfy evangelicals — he will have to thrill them.
Charles Krupa AP

On Saturday, presumptive Republican presidential nominee Mitt Romney will deliver the commencement address at Liberty University, the nation's largest evangelical university. The speech will be attended by nearly 35,000 people, and it will give him a chance to win over a huge constituency that, up until recently, has been lukewarm about his campaign.

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3:14pm

Fri May 11, 2012
Business

Big Losing Bet Tarnishes Wall Street Titan JPMorgan

Originally published on Fri May 11, 2012 4:52 pm

JPMorgan Chase Chief Executive Officer Jamie Dimon cited "many errors, sloppiness and bad judgment" in announcing a $2 billion loss due to a hedging strategy.
Mario Tama Getty Images

JPMorgan Chase is licking its wounds after announcing that it lost at least $2 billion in a hedging strategy that went terribly wrong. The announcement late Thursday sent the bank's shares tumbling more than 9 percent on Friday.

Meanwhile, regulators on both sides of the Atlantic have begun looking into what happened. And there were calls Friday for tighter restrictions on the kind of trades the bank engaged in.

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3:04pm

Fri May 11, 2012
Sports

Red Sox Slump Threatens Home Sellout Streak

Originally published on Fri May 11, 2012 4:52 pm

Boston Red Sox left fielder Cody Ross looks down during a seven-run third inning against the Baltimore Orioles at Fenway Park on May 5. The Red Sox trail their division, losing 11 of their last 12 home games.
Jim Rogash Getty Images

It was supposed to be a banner season at Fenway Park — the ballpark's 100th anniversary. But the Boston Red Sox are stuck in the basement of their division, having lost 11 of their last 12 home games.

It's putting Major League Baseball's record sellout streak in jeopardy. Ever since 2003, the Sox have sold out Fenway Park for every game — 727 consecutive games.

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2:59pm

Fri May 11, 2012
It's All Politics

On Citizenship Question, Bachmann Not So Neutral

Originally published on Fri May 11, 2012 3:24 pm

Minnesota Republican Rep. Michele Bachmann and her husband, Marcus, recite the Pledge of Allegiance before announcing her candidacy for president last June in Waterloo, Iowa.
Steve Pope Getty Images

Under assault from conservative blogs that are normally friendly to her — and facing some skepticism in Minnesota, where she's up for re-election — Rep. Michele Bachmann wants to give back her just-revealed Swiss citizenship.

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2:36pm

Fri May 11, 2012
The Two-Way

Carroll Shelby, Race Driver And Designer Of The Shelby Cobra, Dies

Actor Steve McQueen, left, and racer Carroll Shelby stand by McQueen's Ford-Cobra roadster, June 28, 1963, in Los Angeles.
Dick Stroebel AP

Carroll Shelby was a race car driver; he was a racing team owner, a chili entrepreneur. He survived a liver transplant and a heart transplant. But perhaps the thing that most people will remember him for is his automotive creations, especially the Shelby Cobra.

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2:15pm

Fri May 11, 2012
Politics

ALEC Act Would Give Legislatures Power Over AGs

Originally published on Fri May 11, 2012 4:52 pm

Transcript

AUDIE CORNISH, HOST:

A controversial organization that brings together conservative lawmakers and business lobbyists is meeting today in Charlotte, North Carolina. The American Legislative Exchange Council has been under attack. Liberals have been challenging its role in developing laws in many states. And they question its status as a tax exempt charity.

The conference is behind closed doors. But NPR's Peter Overby is there to cover it and he joins us now. Hi there, Peter.

PETER OVERBY, BYLINE: Hi, Audie.

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