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May 16, 2012 | | MISTAKE JPMorgan shareholders reelected Jamie Dimon chairman and CEO and gave him a $23 million pay package despite the bank’s $2 billion loss. But it’s ludicrous that he’s still calling the loss a mistaken ‘hedge’—and it shows he doesn’t get it, says Nomi Prins. SOCIAL NETWORK Facebook will increase the size of its initial public offering by 25 percent, a source told Reuters on Wednesday—meaning the company could raise as much as $16 billion before its shares go public on Friday. If the IPO is increased, it will be the third-largest initial share sale in history, after Visa and General Motors. According to the source, Facebook will add about 85 million shares, for a total of 422 million expected to be floated in the public offering. The news about the shares came just one day after GM announced it would be pulling its ads from Facebook, saying the ads are ineffective. ANTICIPATION Greeks are withdrawing euros from banks over fear of the country exiting the single currency and the rapid devaluation they would suffer as a result. In a meeting between Greek President Karolos Papoulias and political leaders, Papoulias spoke of the “fear that could develop into panic” at the country’s banks as the political parties failed to form a coalition government and a new election was announced. Central bank head George Provopoulos said Greeks had withdrawn at least €700 million ($894 million) on Monday. Meanwhile, the London stock exchange, the FTSE, was down Wednesday on the news from Greece. JUSTICE The trial of Ratko Mladic, the man accused of being responsible for the bloodiest genocide in Europe since World War II, began on Wednesday at The Hague, 17 years after the Bosnian conflict ended. Mladic is charged with 11 counts, including two counts of genocide, war crimes, and crimes against humanity during the Bosnian conflict, including the massacre of 8,000 Muslims in Srebrenica. Family members of his victims and survivors packed the courtroom to see Mladic, who reportedly gave them a sarcastic hand clap and wave. Mladic gestured he needed a bathroom break by sliding his finger across his throat, causing consternation from his victims. Mladic, 70, had eluded authorities for 16 years until his capture in May 2011. BIG BROTHER With Chicago hosting the NATO summit this weekend, security is on high alert. Tony Dokoupil on the little-known rules government can use to shut down phone networks. | | 
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