9:18 AM, June 28th, 2012


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:

JPMorgan Trading Loss May Reach $9 Billion

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]

Rupert Murdoch announces News Corp split

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…

GOP lawsuit challenges campaign contribution caps

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]

Reblogged from Pantsless Progressive
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