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10:20 AM ET, May 14, 2012

memeorandum

 Top Items: 
Ben White / Politico:
Obama's Wall Street problem  —  The giant $2 billion trading loss at JPMorgan Chase highlights a central problem in President Barack Obama's case for a second term: Four years after the financial crisis nearly brought the nation to its knees, very little appears to have changed.
Discussion: CNN, The Hill, Taylor Marsh and ABCNEWS
RELATED:
Paul Krugman / New York Times:
Why We Regulate  —  One of the characters in the classic 1939 film “Stagecoach” is a banker named Gatewood who lectures his captive audience on the evils of big government, especially bank regulation — “As if we bankers don't know how to run our own banks!” he exclaims.
Wall Street Journal:
Three to Exit J.P. Morgan
Discussion: Deal Journal, Guardian and msnbc.com
CBS News:   Warren: JPMorgan CEO should resign from NY Fed
Lydia Saad / Gallup:
U.S. Acceptance of Gay/Lesbian Relations Is the New Normal  —  For third year, majority says gay/lesbian relations are morally acceptable  —  PRINCETON, NJ — The slight majority of American adults, 54%, consider gay or lesbian relations morally acceptable.
RELATED:
CBS News:
Poll: Most Americans support same-sex unions  —  CBS News Poll analysis by the CBS News Polling Unit: Sarah Dutton, Jennifer De Pinto, Fred Backus and Anthony Salvanto.  —  A new CBS News/New York Times Poll shows a solid majority of Americans support legal recognition for same-sex couples …
Discussion: ThinkProgress and Joe. My. God.
Mike Allenand Jim Vandehei / Politico:
The un-McCain campaign  —  Mitt Romney and his top aides are building a strategy, partly by design and partly because of circumstance, around what they consider John McCain's disastrously run campaign in 2008.  —  The strategy: whatever McCain did, do the opposite.
Justin Sink / The Hill:
Obama targets Romney tenure at Bain Capital with new ad, website  —  President Obama is taking dead aim at Mitt Romney's record helming Bain Capital, debuting a new television ad, online video, and website that each depict the private equity firm as predatory and having engaged in “questionable business practices.”
Discussion: CNN
RELATED:
Ken Thomas / Associated Press:
Obama seeks to undercut Romney's record on jobs
Discussion: The Agonist
Rebekah L. Sanders / Arizona Republic:
Arizona Ron Paul supporters boo Romney's son off stage
Andrew Sullivan / The Daily Beast:
Andrew Sullivan on Barack Obama: The First Gay President  —  The president's bold support shifted the mainstream.  Andrew Sullivan on why it shouldn't be surprising—Obama's life as a biracial man has deep ties to the gay experience.  —  It was the spring of 2007, back when Barack Obama's bid …
RELATED:
Indianapolis Star:
Outsiders' money to play role again  —  Less than six months remains before the Nov. 6 retention vote.  Wiggins does not yet have a campaign committee or any specific plan to convince voters that he deserves to keep his job.  Instead, the justice says his chief focus remains on writing …
Discussion: Good As You
Bloomberg:
As European Austerity Ends, So Could the Euro  —  The euro currency is a malady that condemns at least a generation of Greeks, Italians, Spaniards, Portuguese and Irish to the economic infirmary.  —  In these nations, unemployment rates are now at their highest levels in recent decades …
Michael B. Marois / Bloomberg:
Brown Tax Increase Gains Urgency as Deficit Rises to $16 Billion  —  California Governor Jerry Brown bet that a nascent financial recovery would lift the world's ninth- largest economy enough to whittle down a $9.2 billion deficit.  Instead, the gap has widened to $16 billion.
Discussion: Weasel Zippers and Weekly Standard
Paul Krugman:
Eurodämmerung  —  Some of us have been talking it over, and here's what we think the end game looks like:  —  1. Greek euro exit, very possibly next month.  —  2. Huge withdrawals from Spanish and Italian banks, as depositors try to move their money to Germany.  —  3a.
Vicki Needham / The Hill:
Report says 230,000 unemployed losing benefits over weekend  —  More than 230,000 unemployed workers will lose their jobless benefits this weekend as portions of federal programs expire across several states.  —  All told, 409,300 long-term unemployed Americans in 27 states will have lost upward …
 
 
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 More Items: 
Jack Gillum / Associated Press:
Crossroads Generation, New GOP-Backed Super PAC, Aims To Attract Young Voters
Discussion: ABCNEWS
Stephen Brown / Reuters:
Merkel's party routed in big German state
Discussion: Firedoglake and Washington Monthly
New York Times:
For Tea Party, Focus Turns to Senate and Shake-Up
Amir Efrati / Wall Street Journal:
Ex-Yahoo Chief Told Board He Has Cancer
Cameron Joseph / The Hill:
GOP: Mitt should shame Obama with Israel trip
Discussion: GOP 12
 Earlier Items: 
NY1.com:
Obama To Deliver Barnard Commencement Address
Paul Mirengoff / Power Line:
John Edwards and the “reality-based” community
Telegraph:
Al-Nusra Front jihadists claim Damascus suicide bombs
Discussion: Weasel Zippers
Edward Klein / New York Post:
Jealous Michelle vs. Oprah