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9:55 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: The Hill and ABCNEWS
RELATED:
Paul Krugman / New York Times:
Why We Regulate  —  One of the characters in the classic 1939 film …
CBS News:   Warren: JPMorgan CEO should resign from NY Fed
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.
Wall Street Journal:
Three to Exit J.P. Morgan  —  Drew, Others to Depart in Wake of Loss, Which Could Total More Than $4 Billion  —  Three high-ranking officers at the center of J.P. Morgan Chase & Co.'s giant trading blunder are expected to leave the firm this week, said people familiar with the situation, and losses on the trade have grown.
Discussion: Deal Journal, Guardian and msnbc.com
RELATED:
New York Times:
JPMorgan Chase Executive to Resign in Trading Debacle
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:
Meghan Keneally / Daily Mail:
‘First Gay President’: Newsweek marks Obama's landmark announcement with controversial cover
Rebekah L. Sanders / Arizona Republic:
Arizona Ron Paul supporters boo Romney's son off stage
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 …
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.
Discussion: Reuters, CNN and GayPatriot
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
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.
Discussion: CANNONFIRE and Calculated Risk
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 …
Cameron Joseph / The Hill:
GOP: Mitt should shame Obama with Israel trip  —  Mitt Romney should visit Israel soon, Republican lawmakers say, claiming that such a trip would highlight the fact that President Obama has not been there during his first term.  —  Congressional Republicans told The Hill that there would be many benefits …
Discussion: GOP 12
Amir Efrati / Wall Street Journal:
Ex-Yahoo Chief Told Board He Has Cancer  —  Before resigning as chief executive of Yahoo Inc. over the weekend, Scott Thompson disclosed to the company's board of directors and several colleagues that he has been diagnosed with thyroid cancer, according to people familiar with the matter.
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 More 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
 Earlier Items: 
Dylan Stableford / ABCNEWS:
Secret Service sex scandal: Congressional hearing set for May 23
Discussion: Reuters
Edward Klein / New York Post:
Jealous Michelle vs. Oprah