What Will Black Pastors Preach This Sunday?

May 11, 2012

Transcript

MICHEL MARTIN, HOST:

I'm Michel Martin, and this is TELL ME MORE from NPR News.

Coming up, this is the month when we acknowledge the contributions of Asian-Americans and Pacific Islanders to the history and ongoing life of this country. We decided to observe it by speaking with people who have changed the game in their respective fields. Today, we are talking with Hikaru Nakamura. At the ripe old age of 24, he has already won the U.S. Championships twice and he's working on his third, as we speak. We'll have that conversation in just a few minutes.

$15 million.

That's how much President Obama campaign will receive from a fund-raising event last night at George Clooney's home. The New York Times reports the A-list, Hollywood crowd paid $40,000 a person, helping to set "a record for a presidential election fund-raiser."

The Times adds:

JP Morgan's $2 Billion Loss, Explained

May 11, 2012

What just happened?

JPMorgan Chase, the biggest bank in America, announced that it lost $2 billion on a massive trade placed out of its London office.

What was the trade?

In what could mark a watershed in the fight against HIV/AIDS, a panel of experts recommended that the Food and Drug Administration give a green light to a pill that can cut the risk of infections.

The daily pill, Truvada, made by Gilead Sciences, combines two medicines that inhibit the reproduction of HIV. It's already approved as a treatment for HIV, but its use could soon expand to include protection of uninfected people.

"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.

Freddie Mac Names JPMorgan Official CEO

May 11, 2012

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.

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.

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

May 11, 2012

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."

The Postal Service announced Thursday that it lost more than $3 billion during the first three months of the year. Post office officials are pushing Congress to give it more authority to cut some of its burgeoning costs.

The Department of Justice has announced it is suing Maricopa County Sheriff Joe Arpaio because of civil rights violations. He became a controversial figure for his tough stance on immigrants. Arpaio says he will not surrender his office and will fight the suit.

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