The Two-Way
4:49 pm
Wed October 10, 2012

JPMorgan Chase CEO: 'I Should Have Caught' $5.8 Billion Error

JP Morgan Chase CEO Jamie Dimon, wearing a dark suit possibly made of sackcloth, didn't hold back when discussing the derivative trades that led to massive losses for his company.

"We made a stupid error," he said before a lunchtime audience at the Council on Foreign Relations in Washington on Wednesday. "We screwed up."

Then he got more specific: "I should have caught it ... I didn't."

The company estimates it lost $5.8 billion, thanks to a London-based trader, nicknamed the "London whale," who took large, risky positions in credit derivatives.

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Middle East
4:41 pm
Wed October 10, 2012

American Troops In Jordan Keeping An Eye On Syria

Originally published on Wed October 10, 2012 6:57 pm

A small number of American troops are on the ground in Jordan, next door to Syria. The troops could be called on to perform critical missions in response to the fighting inside Syria. Possible missions include providing humanitarian relief and helping to secure Syria's chemical weapons.

National Security
4:40 pm
Wed October 10, 2012

Court: Minn. Man Recruited Somalis For Terrorism

Abdifatah Yusuf Isse (center) and Salah Osman Ahmed (right) are among more than 20 young men who left Minnesota since 2007 to join al-Shabab. They are testifying against Mahamud Said Omar (left), who is accused of helping to send fighters and money to the al-Qaida-linked group in Somalia.
AP

Originally published on Wed October 10, 2012 7:53 pm

A terrorism trial unfolding in a federal court in Minneapolis is providing a rare look inside a jihadi pipeline that funneled some two dozen young Somali-Americans to Somalia to join a terrorist group there.

The testimony from three young men who joined a group affiliated with al-Qaida and subsequently returned to the U.S. has shown just how easy it is for young men to leave the U.S. and join a terrorist organization.

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Education
4:38 pm
Wed October 10, 2012

Morrison Delays Decision On First Ward Elementary

Two CMS creative art magnets could combine next year and become a school open to students year-round.  The board was expected to launch that effort Tuesday night.  But Superintendent Heath Morrison decided the district needed more time to study it and get input from parents. 

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It's All Politics
4:38 pm
Wed October 10, 2012

Romney, Obama Surrogates Clash Over Military Strategy

Originally published on Wed October 10, 2012 5:16 pm

The Romney campaign is putting more meat on the bones of its defense policy, and the result is a muscular, almost hawkish posture.

Dov Zakheim, Mitt Romney's special adviser for foreign policy and national security, went toe-to-toe with Richard Verma, who plays a similar role for the Obama campaign, at a forum Wednesday.

The two tussled for over an hour in a foreign policy debate of sorts at a Washington, D.C., hotel.

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Music News
4:24 pm
Wed October 10, 2012

An Immigrant's 'Star-Spangled Banner,' En Español

Clotilde Arias (seated) with composer and arranger Terig Tucci, circa 1943.
Courtesy of the Arias family

Originally published on Wed October 10, 2012 6:57 pm

In 2006, Roger Arias went into his garage searching for a long-lost treasure. He remembered a story about his grandmother and a Spanish translation of "The Star-Spangled Banner."

"I dug through my boxes and sure enough, there was a folder," he says. "It said 'The National Anthem,' and she had version 1 through 10. She kept every one of them."

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Remembrances
4:24 pm
Wed October 10, 2012

Football Player-Turned-Actor Alex Karras Dies

Originally published on Wed October 10, 2012 6:57 pm

Alex Karras played defense for the Detroit Lions in the 1960s. He turned to acting when he retired his cleats, landing a number of character roles in television and film. He was 77.

Europe
4:24 pm
Wed October 10, 2012

Irish Bill Could Prevent Thousands Of Foreclosures

Originally published on Thu October 11, 2012 2:24 pm

Transcript

ROBERT SIEGEL, HOST:

Now to Ireland where the government is likely to pass a new law called the Personal Insolvency Bill. The legislation is meant to help people who are struggling to pay their mortgages by, in part, forgiving some of the debt that they owe to banks. It could prevent tens of thousands of foreclosures across the country, and here to tell us more about it is Charlie Weston, personal finance editor of The Irish Independent who joins us from Dublin. Welcome to the program.

CHARLIE WESTON: Thank you.

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Television
4:24 pm
Wed October 10, 2012

With 'Clear Eyes, Full Hearts,' Romney Can't Lose?

Originally published on Wed October 10, 2012 6:57 pm

Presidential hopeful Mitt Romney has been using a new phrase on the campaign trail that's borrowed from one of his favorite TV shows, Friday Night Lights.

Presidential Race
4:24 pm
Wed October 10, 2012

Ryan Needs To Conquer Wonk Reputation In Debate

Originally published on Wed October 10, 2012 6:57 pm

On Thursday night, Republican vice presidential nominee Paul Ryan takes the national debate stage for the first time in his career. The 42-year-old Wisconsin congressman faces off with Vice President Joe Biden. We take a look at the strengths and weaknesses the House budget chairman brings.

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