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JPMorgan boss to testify to Congress twice in June

WASHINGTON — JPMorgan Chase’s embattled chief executive Jamie Dimon will be hauled before US lawmakers twice in June to explain the bank’s recent huge trading losses, congressional officials said Thursday. The US Senate Banking Committee said it postponed an appearance by Dimon from June 7 to June 13 to accommodate…

Congresswoman’s spokesman: Hurl some acid at female Democratic Senators

Democratic candidate Richard Becker on Thursday blasted comments made by Rep. Nan Hayworth’s (R-NY) official campaign spokesman. On a Facebook discussion board maintained by local Democratic activists, Jay Townsend mockingly suggested throwing acid on female Senators who supported the Lilly Ledbetter Fair Pay Act but paid their male staffers more…

Families caught in foreclosure crisis unite in national campaign

A national campaign representing more than 50,000 families caught up in America’s foreclosure crisis has been launched, with the aim of making mortgage relief a key issue in battleground states during the 2012 election. The Home Defenders League, launched on Thursday, plans to be active in 17 states across the…

Public sector cuts dragging down U.S.’s already fragile economic recovery

For the last 24 years James Estep has worked in public education. He has never seen anything like this. The superintendent of Pennsylvania’s Mifflin county school district is wrestling with a multimillion deficit that last year led to him cutting 83 jobs – a fifth of his workforce – and…

Buddy Roemer blasts special interests as he bows out of presidential race

Long-shot Republican presidential candidate Buddy Roemer officially dropped out of the 2012 race on Thursday, blasting the special interests that “own our political system” as he did so. In a statement, Roemer thanked his friends and family who had supported him during the 17 month campaign. The White House hopeful…

Director Charles Ferguson: Politicians are afraid of Wall Street’s power

Director Charles Ferguson told Reuters TV on Thursday that criminal behavior on Wall Street is not prosecuted because politicians are scared of the financial sector’s power. Ferguson is the director of the 2010 Oscar-winning documentary Inside Job, which examines how banking practices, the housing boom, and deregulation led to the…

Mistrial declared in John Edwards case

GREENSBORO, North Carolina — The judge declared a mistrial Thursday in the John Edwards trial after jurors failed to reach a verdict on five out of six charges against the fallen US political star. Edwards was found not guilty of one count of using campaign donations to hide his pregnant…

Rumsfeld says bin Laden killing not ‘gutsy’ call

WASHINGTON — Former US defense secretary Donald Rumsfeld has scoffed at praise for President Barack Obama for ordering the killing of Osama bin Laden, saying he would have recommended the operation in a minute. The blunt-talking and controversial former Pentagon chief, best known for the Iraq invasion, was asked in…

Occupy Buffalo convinces city to withdraw $45 million from JPMorgan

Buffalo City Comptroller Mark J.F. Schroeder announced on Thursday that the city would be pulling $45 million in funds from an account with JPMorgan Chase, following concerns raised by members of the Occupy Buffalo movement. BuffaloNews.com reported that the Buffalo Sewer Authority funds will be deposited into a higher-yielding account…

Mayor Bloomberg plans to outlaw super-sized sodas

New York Mayor Michael Bloomberg has said he plans to outlaw super-sized sugary drinks, in a ban cementing his reputation as one of America’s hardest-driving policy makers on public health. Bloomberg, who already has gone to war on smokers and transfat, will allow the sale of cups up to 16…

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