Frontpage: Wednesday, May 16th
- Mladic War Crimes Trial Begins: 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.
- Greeks Pulling Funds From Banks: 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.
- Romney Wins Nebraska, Oregon Primaries: And the winner is … Mitt Romney! The former Massachusetts governor had no problem running to victory in both Nebraska and Oregon on Tuesday night, winning nearly 70 percent of the vote in the Cornhusker State with three quarters of precincts reporting.
- Facebook IPO Could Top $16B: 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.
- Russian Cops Break Up Protest Camp: Russian police ousted political protesters from a campsite in Moscow early Wednesday morning, a day after a judge ordered the site be cleared because of complaints from neighborhood residents. Police had initially said they wouldn’t move in until noon against “OccupyAbai,” named after the statue of a 19th-century Kazakh writer in Chistye Prudy park, but instead swooped at 5:30 a.m.
Photo: JPMorgan Chase CEO Jamie Dimon attends a session at the World Economic Forum in Davos, Switzerland, Jan. 27, 2011. (Vincent Kessler / Landov) Read: “Dimon’s Unshakbale Hubris.”