With news of the Supreme Court’s ruling on the Affordable Care Act sweeping up every bit of news coverage imaginable today, I second BuzzFeed’s advice: keep your eye on the news dump. Today is a marvelous day for heavy news items to disappear in the news cycle. Case in point:
When Jamie Dimon, the bank’s chief executive, announced in May that the bank had lost $2 billion in a bet on credit derivatives, he estimated that losses could double within the next few quarters. But the red ink has been mounting in recent weeks, as the bank has been unwinding its positions, according to interviews with current and former traders and executives at the bank who asked not to be named because of investigations into the bank. [ via NY Times]
News Corp will now pursue its plan to split into two companies: One for its entertainment properties —- including the Fox News Channel —- another for its publishing properties, including The Wall Street Journal, The New York Post, and a number of UK papers. Murdoch, who will continue to serve as chairman of both companies and CEO of the entertainment side, will oversee the transition. [via Politico]
And the gem…
The suit challenges the cap on the total amount of money that one person may give to political candidates, parties and some types of political action committees during a two-year election cycle. […]
If McCutcheon and the RNC are successful, it would mean that one person could give more than $2 million to candidates and party committees if they divided the money among House and Senate members and various state parties. [via WaPo]
[Photo: Saul Loeb/Getty Images/ Buzzfeed]
Frontpage: Thursday, May 24th
- Inquiry Grills Murdoch Lobbyist: News Corp. lobbyist Frédéric Michel appeared before the Leveson Inquiry into the ethics of the British press on Thursday to answer allegations that he communicated with an adviser to the British culture minister, who was overseeing News Corp.’s $12 billion bid to take over the cable company BSkyB. Michel admitted to exchanging phone calls, texts, and email messages with Adam Smith, the government aide, though he denied knowledge that Smith was feeding his communications to the culture minister.
- Egypt Votes for Second Day: Egyptians returned to the polls on Thursday for the second day of voting in the country’s first free election since ousting former President Hosni Mubarak last year. Lines at the polls were not as long as Wednesday, although Egyptian authorities proclaimed Thursday a holiday to allow public-sector employees access to vote.
- Zimmerman Criticized Cops in 2011: George Zimmerman, the self-appointed neighborhood watch volunteer who has been charged with shooting and killing 17-year-old Trayvon Martin, apparently criticized Sanford police last year after he went on a 12-hour ride-along, according to recordings from an open city forum. “What I saw was disgusting,” Zimmerman told mayor-elect Jeff Triplett, who held the forum following a scandal that ousted former police chief Brian Tooley.
- Europe to Greece: Stay in the Euro: It’s been a tumultuous few weeks in Europe. And now that it looks like Greece might leave the euro zone, other European leaders are planning for what could be explosive markets to follow. Most countries agreed that they should issue bonds to help members in financial turmoil, but German Chancellor Angela Merkel said that Greece would have to “uphold the commitments it has made.”
- Suspect Confesses to Strangling Etan Patz: A New Jersey man reportedly confessed to police that he strangled Etan Patz, the 6-year-old boy who disappeared in 1979, and hid his body in a box, officials told The New York Times on Thursday.
Photo via picturedept:
Photographer Jon Lowenstein took this wonderful photo of last weekend’s anti-NATO demonstrations in Chicago. Lowenstein, who recently received a Guggenheim fellowship, has spent a decade photographing the people and neighborhoods in the South Side of Chicago. Last month, on assignment for Newsweek/Daily Beast, he photographed South Side neighborhoods hit by a dramatic rise in crime and gang violence. View that work here. And you can see many more of Jon’s photographs here.
Frontpage: Wednesday, May 9th
- Saudi Likely Created Underwear Bomb: A Saudi bomb maker is believed to be responsible for creating the “underwear bomb” that was a central part of an al Qaeda plot foiled by a CIA double agent, security experts and officials told Reuters.
- Obama ‘Disappointed’ in N.C. Vote: President Obama issued a statement late Tuesday that he is “disappointed” that North Carolina passed Amendment One, which will add a line to the state’s Constitution declaring that marriage between a man and a woman is the “only domestic legal union that shall be valid or recognized.”
- Shareholder: News Corp. Takes a Hit: The second-largest shareholder in Rupert Murdoch’s News Corp. admitted on Tuesday that the company’s reputation has been harmed by the hacking investigation and that he “really hopes” the scandal is “behind us.”
- Greek Far-Left Leader Vows Unity: The leader of the Greek far left, who has been tasked with forming the country’s government, said that although he finds the European Union’s bailout terms “barbaric,” he will meet with pro-bailout parties on Wednesday. If the two sides fail to come to an agreement, Greece could have fresh elections in a few weeks.
- Inmate Garners Votes Versus Obama: President Obama was dealt a stinging blow on Tuesday when he lost about 40 percent of the vote in West Virginia’s Democratic primary to a Texas inmate. Keith Judd, who is serving time at the Beaumont Federal Correctional Institute, didn’t get much campaigning done, but he was still able to win a significant chunk of the vote.
Photo: Supporters of North Carolina’s proposed constitutional amendment banning gay marriage and civil unions demonstrated in Raleigh on April 20. John Avlon reports. (Allen Breed / AP Photo)
Frontpage: Thursday, May 3rd
- Bin Laden Documents Published: Several of the documents seized during the raid that killed Osama bin Laden were posted online by the Combating Terrorism Center at West Point on Thursday, which show that the al Qaeda leader still hoped to pull off one big attack.
- Sen. Rockefeller: Investigate Murdoch: Sen. Jay Rockefeller (D-WV) asked to the British committee investigating News Corp. to look into whether the company had broken any American laws. Murdoch was censured earlier in the week by the British Parliament and declared not “fit and proper” to run News Corp.
- Chen: I Want to Leave with Hillary: Blind Chinese dissident Chen Guangcheng, whose daring escape last week from house arrest is straining U.S.-Chinese relations, said Thursday that he wanted to leave his home country with Secretary of State Hillary Clinton. Clinton is currently in China for a previously scheduled meeting on unrelated topics.
- Poll: Tie in Florida, Ohio: A new poll by Quinnipiac University found President Obama and the presumptive Republican nominee Mitt Romney virtually tied in the key swing states of Florida and Ohio, but Obama held onto a solid lead in Pennsylvania.
- Munch’s ‘Scream’ Sells for $119.9M: It’s not the most expensive painting in history, but Edvard Munch’s The Scream ranks up there as one of the few works of art to fetch a nine-figure sum. The painting was sold on Wednesday evening in New York to an anonymous buyer who will pay $119.9 million for the masterpiece.
Photo: Edvard Munch’s ‘The Scream’ was sold on Wednesday in New York for a staggering $119.9 million. (Mario Tama / Getty Images) More of the world’s most expensive art.
Frontpage: Wednesday, May 2nd
- Chinese Dissident in Medical Facility: Blind Chinese dissident Chen Guangcheng, who fled house arrest last month, has left the U.S. embassy and is at a medical facility in Beijing, a U.S. official said Wednesday—the first public acknowledgment by the U.S. that his whereabouts are known.
- Hiring Slows in April: A monthly report from the payroll giant ADP said Wednesday that U.S. hiring slowed in April, marking the second straight month that job growth disappointed forecasters. Companies hired 119,000 people in April after hiring 201,000 in March.
- 11 Killed in Cairo Clash: At least 11 people were killed early Wednesday in Cairo and at least 160 injured in clashes when a group of armed “thugs” attacked protesters demanding an end to military rule. The violence comes just weeks ahead of Egypt’s first post-Mubarak campaign, and resulted in two Islamist candidates suspending their campaigns. “Where is the Army? Why are they not stopping these people?” cried one bystander during the violence.
- Watson Defends hacking Report: British M.P. Tom Watson, the man who has led the investigation into hacking allegations at News Corp., fired back Wednesday at critics of the findings that Murdoch is not “fit and proper” to run the media conglomerate. While some Conservative members of the committee have claimed Watson “hijacked” the report and made it “partisan,” Watson dismissed the criticism, saying “that’s exactly what they said when we did the report in 2009.
- Gingrich to Suspend Campaign: It’s not quite June, but Newt Gingrich is ready to call it quits. The onetime Republican hopeful will suspend his campaign on Wednesday, he announced in a video message on Tuesday. In his farewell video, Gingrich promised he will endorse presumptive nominee Mitt Romney. Tweet your idea for Newt’s next job with #NewtsNextAct.
Photo: A trainer walks a horse off the track at Churchill Downs after a morning workout in preparation for the Kentucky Derby this weekend. (Charlie Riedel / AP Photo)
Frontpage: Monday, May 1st
- Report: Bank of America to Cut 2,000 Jobs: Bank of America is planning on cutting 2,000 jobs—including 400 in its investment banking, corporate banking, and sales and trading units—The Wall Street Journal reported on Tuesday.
- May Day Protests Across the Globe: Happy May Day! Workers across the globe planned strikes and marches to demand better labor conditions on Tuesday, while Occupy Wall Street hopes to launch a spring awakening of its protest movement. Occupy called for “no work, no school, no shopping, no banking” throughout the country, as spokesman Mark Bray said the movement wants to show that the “99 percenters make things run in this country.”
- Bin Laden Planned Obama Assassination: In the months before his death, Osama bin Laden planned assassinations of President Obama, General Petraeus, and other U.S. officials, while also considering changing the name of al Qaeda due to “disaster after disaster.” John Brennan, President Obama’s top counterterrorism official, said the documents found in the raid that killed bin Laden showed that he felt the terrorism network had become a “shadow” of its former self and its core leadership would soon be “no longer relevant.”
- M.P.s: Rupert Murdoch Not ‘Fit’: Members of the British Parliament who are investigating phone hacking called Rupert Murdoch “not a fit person” to lead News Corp. and said he had misled them. Murdoch “turned a blind eye and exhibited willful blindness,” said the report by the 11-member House of Commons Culture, Media and Sport.
- Clinton Heads to China: U.S. Secretary of State Hillary Clinton left for China on Monday, where a blind dissident is reportedly being protected at the U.S. embassy in Beijing. Both governments avoided making any official comments about Chen Guangcheng, who escaped from house arrest last week, but officials said that Chen is expected to demand to stay in China and continue his campaign for reform.
I should have done something more innocuous, like hacked a dead girl’s phone and interfered with a police investigation.
Fox News mole Joe Muto, who had this apartment searched this morning by the New York District Attorney’s office, taking a last dig at the Fox News corporation, News Corp, and their leader, Richard Murdoch. Murdoch and his UK media empire have been under social and legal scrutiny for phone hackings and similar illegal “journalistic endeavors.” (via reallyfoxnews)
Frontpage: Wednesday, April 25th
- RNC Officially Backs Romney: Reince Priebus has made it official with Mitt Romney. The Republican National Committee chair said Wednesday that the party will put all of its resources behind Romney as the presumptive Republican nominee for president.
- U.K. Culture Secretary’s Aide Resigns: Adam Smith, special adviser to U.K. Culture Secretary Jeremy Hunt, has resigned over advice he gave to News Corp. executives while the company tried to take over BSkyB. Hunt was charged with overseeing News Corp.’s bid in a “quasi-judicial role.”
- Rupert Murdoch: Never Courted P.M.s: First the son, now the father. It’s Rupert Murdoch’s turn before the Leveson Inquiry on media ethics, where he’s being questioned about his use of political clout. Murdoch denied asking for or being offered favors by Prime Minister Margaret Thatcher when they had lunch in 1981, before he took over the Times newspapers, saying, “I have never asked a prime minister for anything.”
- CNN: Newt to Drop Out Next Week: Mitt Romney’s five-way win Tuesday made Newt Gingrich realize something: “It’s pretty clear Governor Romney is going to be the nominee. I think you have to at some point be honest with what’s happening in the real world, as opposed to what you’d like to have happen,” he said. But then he said he’s going to continue his campaign in North Carolina—“as a citizen.” What does this all mean?
- Madeleine McCann May Be Alive: British police said Wednesday that they want to reopen the Madeline McCann case, since new evidence indicates the missing girl may still be alive. McCann, whose ninth birthday is May 12, disappeared when she was 4 years old while her family vacationed in Portugal in May 2007.
Photo: A Sudanese soldier stood atop a destroyed tank left behind by Southern forces when they withdrew from Heglig. (Ashraf Shazly, AFP / Getty Images). See more photos from Sudan’s bombing of South Sudan.
Frontpage: Tuesday, April 24th (Late Edition)
- James Murdoch Grilled on Emails: James Murdoch is sticking to his story that he never saw an incriminating email regarding phone hacking at News of the World until 2010. Speaking before the Leveson Inquiry into press standards, the former chairman of News Corp.’s British newspaper division insisted management told him the paper had a clean bill of health.
- North Korea Preps Nuke Test: North Korea has almost finished preparations for a third test of its nuclear capabilities, a source close to the operation has revealed. The news comes just weeks after another failed rocket launch that intensified hostilities between the impoverished regime and the United States.
- California to Vote on Death Penalty: One of the largest death rows in the United States may shut down if California voters approve a measure this November. The measure, which qualified for the ballot yesterday, would replace death with life in prison without parole as the state’s toughest penalty. More than 700 people on death row would have their sentences commuted.
- Feds File Charges in BP Oil Spill: Criminal charges have been filed against a former BP engineer who is accused of destroying evidence in the disastrous oil spill two years ago, the Justice Department announced Tuesday.
- Facebook Growth Slows: It looks like Facebook will enter its pre-IPO quiet period on a down note. The company’s profit in the last quarter was $205 million, down 32 percent from the fourth quarter of 2011 and down 12 percent from a year earlier. However, revenue was up 45 percent from a year earlier.
Photo: Ron Galella’s Greatest Hits: Ron Galella’s work is the subject of several books. His latest, Paparazzo Extraordinaire, which is out this month, includes some his most famous photographs, from Michael Jackson to Mick Jagger; Greta Garbo to Elizabeth Taylor to (pictured above) Jackie O. See more.
FAIL. James Murdoch blamed his underlings at News Of The World, told a British judicial inquiry today that he was kept in the dark regarding illegal activity at his father Rupert Murdoch’s UK newspaper empire.
Frontpage: Thursday, April 19th
- Poll: Condi Tops GOP VP List: Would Condi and Mitt make a good team? Republicans and conservative independents seem to think so, according to a new CNN poll released Wednesday in which former secretary of state Condoleezza Rice earned the most votes for preferred vice president (26 percent).
- CIA Pushes Yemen Drone Campaign: There could be a lot more drone strikes in Yemen soon, if the CIA has its way. The agency is requesting permission to strike targets in the country based only on suspicious behavior, such as surveillance showing militants gathering at al Qaeda compounds or unloading explosives. The problem, say critics, is that al Qaeda is closely linked to the antigovernment opposition fighters, and it’s hard to tell the difference.
- Three Secret Service Members Ousted: At least three Secret Service members are being shown the door over the Colombia scandal. The agency announced that one will be fired, another will retire, and a third has been recommended for firing but will be allowed to appeal. Two of the ousted agents are senior supervisors with two decades of experience.
- Baghdad Blasts Kill 30: At least 30 people were killed and more than 100 injured Thursday in 12 bombings in Baghdad and other northern Iraq cities, officials said. There was no immediate claim of responsibility for the attacks, but a Baghdad military spokesman said al Qaeda was behind them.
- The Sun’s Royal Editor Arrested: British police nabbed The Sun’s royal editor and two other people in a dawn raid. The editor, Duncan Larcombe, was arrested on suspicion of paying a public official for information. Scotland Yard says the arrests were based on information obtained from News Corporation’s management-standards committee, which Rupert Murdoch set up after the hacking scandal at News of the World. The Sun is one of Murdoch’s remaining British papers.
Photo: Famed entertainer Dick Clark passed away yesterday. Here’s Clark on Dec. 31, 2011, in New York’s Times Square, during what would be his final appearance on New Year’s Rockin’ Eve. (Ida Mae Astute / ABC) See more iconic photos of Clark or read John O’Hurley remembering his mentor.
Frontpage: Thursday, April 5th
- Romney Surges in Pennsylvania: Things aren’t looking good for Rick Santorum. Mitt Romney’s campaign moved to Pennsylvania on Wednesday, and a poll already shows him leading Santorum in his home state by five percentage points.
- Greek Suicide Prompts Protest: Reports of a 77-year-old Greek pensioner killing himself in Athens’s Syntagma Square have galvanized austerity protesters. Greek media identified the man as Dimitris Christoulas, a retired pharmacist, who allegedly shot himself after leaving a note protesting austerity measures. “I see no other solution than this dignified end to my life, so I don’t find myself fishing through garbage cans for my sustenance,” the note read. People marched in the square and left flowers and notes at the site of Christoulas’s death, but by evening the demonstrations had devolved into violent clashes with riot police.
- Sky News Admits Hacking Email: A senior executive from Rupert Murdoch’s Sky News admitted on Thursday that he had authorized a journalist to hack into email on two separate occasions, and justified the hacking by saying it was “in the public interest.”
- Paul Ryan in Campaign Spotlight: Representative Paul Ryan and Mitt Romney have been saying such flattering things about each other over the last few days and it’s prompted speculation of a vice presidential nomination.
- Syria Attacks Damascus Suburb: Syrian forces launched what activists called one of its most violent assaults yet on a Damascus suburb Thursday, shelling residential areas with tanks. According to Mohammed Saeed, an activist based in the suburb, they used troops as human shields as they marched into the area’s main square.
Frontpage: Tuesday, April 3rd
- Romney Holds Strong Lead in WI: Mitt Romney is riding high going into tonight’s primaries. He holds commanding leads in Wisconsin, Maryland, and Washington, D.C., and winning all of them would give his campaign yet another boost from now until the next batch of Republican primaries, on April 24.
- $10M Bounty on Pakistani Militant: The U.S. is offering $10 million for the capture or information leading to the capture of Hafiz Muhammad Saeed, the founder of the Pakistan-based militant group Lashkar-e-Taiba, which was responsible for the 2008 Mumbai attacks.
- James Murdoch to Quit: News Corp.’s Sky News reported on Tuesday that James Murdoch will step down as BSkyB chairman due to his role in the hacking scandal. BBC reported it was James Murdoch’s own decision to step down.
- Santorum Plans for May: April just started, but Rick Santorum is already looking ahead to May. Realistic about the losses he faces this month, the presidential candidate is confident he can regain steam in the next round of primaries.
- Oakland Shooting: ‘Execution-Style’: One L. Goh, a 43-year-old former Oikos University student, was arrested Monday as the suspected shooter in a rampage at the small religious Oakland school that killed seven people and wounded three others. Police said the students were lined up against the classroom wall and then shot, one by one, in what Oakland Police chief Howard Jordan described as “execution-style.”
Photo: Riot police and protesters clash at a morning procession for Ahmed Ismael Abdulsamad, allegedly killed over the weekend by government forces, in Salmabad, Bahrain. (Hamad I Mohammed, Reuters / Landov). More photos of the day.
Frontpage: Thursday Mar 29th
- Mitt Laughs About Layoffs: During a conference call Wednesday, Mitt Romney told Wisconsin voters a hilarious story his father being led in a parade while running for governor of Michigan. The marching band only knew the Wisconsin fight song, not the Michigan one, which was super awkward because Romney Sr., then the head of American Motors, didn’t want to remind Michigan voters that he was moving his company’s factory to Wisconsin. LOL indeed.
- Zimmerman Video Shows No Injuries: Zimmerman’s attorney had claimed in recent days that Trayvon Martin, the 17-year-old his client shot and killed last month, attacked him before the fatal incident, breaking the neighborhood watch captain’s nose and bloodying his head and face. But a police video released Wednesday showed police frisking a handcuffed Zimmerman with no discernible facial injuries.
- Family Health-Care Costs to Top $20K: The average health-care costs for a family of four will top $20,000 in 2012, according to an independent research group—a seven percent increase from 2011. It’s the fifth year in a row that health-care costs have increased between seven and eight percent.
- Rubio Endorses Romney: Another win for Mitt. Tea Party Senator Marco Rubio endorsed Mitt Romney in an interview with Fox News’ Sean Hannity. Rubio said that Romney is a “very clear alternative” to Obama’s plan for the country. As for the current Republican race, the first-term senator said that it’s a “recipe for delivery four more years of Obama.”
- Murdoch Ready to ‘Hit Back Hard’: News Corp. chief Rupert Murdoch posted an ominous warning on Twitter Thursday: “Seems every competitor and enemy piling on with lies and libels. So bad, easy to hit back hard, which preparing.” The tycoon has been under renewed fire lately over reports from an Australian newspaper that his media empire had promoted piracy in a bid to top its pay-TV rivals.
(Photo: Getty Images)