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Friday, May 11, 2012

Cheat Sheet - Behind JPMorgan’s Stunning $2B Loss

Today: African-Americans Support Obama’s Same-Sex Marriage Stance , Romney Tries to Shift Focus , FBI: Tenn. Fugitive Dead
Cheat Sheet: Morning

May 11, 2012
WHOOPS

Ironically, the bank suffered huge losses in an internal fund set up to hedge its own capital against potential risks. That result will strengthen those who want more stringent restriction on banks’ internal trading, writes The Daily Beast’s Zachary Karabell.

Reconsideration

African-Americans who oppose gay marriage are reconsidering their beliefs, thanks to Obama’s shift, The Daily Beast’s Allison Samuels reports.

Where Was I

Mitt Romney is trying to shift the national focus back to the economy by shrugging off discussions of gay rights after President Obama's historic endorsement of same-sex marriage Wednesday. His schedule is making that tough, since on Friday he heads to North Carolina, the state that just approved a ban on same-sex unions. He'll also give a commencement address Saturday at Liberty University, the Virginia school founded by the late Rev. Jerry Falwell, who vehemently opposed gay rights.

Over

Adam Mayes, the Tennessee fugitive charged with kidnapping two young girls and suspected of killing their mother and older sister killed himself Thursday as a SWAT team approached the location he was holding the two girls at, the FBI confirmed. The girls, Alexandria Bain, 12, and Kyliyah Bain, 8, were said to be safe in en route to a local emergency room, a Mississippi’s Union County Sheriff Jimmy Edwards told local media. Mayes was last seen two weeks ago and was said to have believed that the Bain girls were his daughters. The girl’s mother and sister were confirmed dead late last week, having been shot outside of Mayes’s home in Guntown, Miss.

Political Party

It's believed to be the largest one-night campaign haul ever: $40,000 a plate, 150 people, and President Obama stayed a while and gave a speech. Obama pal George Clooney threw a backyard party at his Los Angeles house Thursday night for the president, raising $15 million for the campaign. "Obviously yesterday we made some news," Obama said to the applause one day after his historic endorsement of gay marriage. "But the truth is it was a logical extension of what America is supposed to be.” Wolfgang Puck cooked, and guests included Robert Downey Jr., Diane Von Furstenberg, and James Brolin.


Carnage
'Outside Forces' Blamed for Syria Bombs
According to Russian foreign minister.
‘TOUGHEST SHERIFF IN AMERICA’
DOJ Files Lawsuit Against Joe Arpaio
For civil-rights violations.
Unwelcome
Shoe Thrown at Breivik Trial
Relative of victim disrupts hearing.
Tragedy
Jet Wreckage Combed in Indonesia
A dozen bodies found in the morning.
Political Party
Clooney Raises $15M for Obama
Could be largest one-night haul ever.
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