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JPMorgan reveals shock losses

NEW YORK — US banking giant JPMorgan Chase on Thursday revealed that it would incur losses that could run into the billions as a result of bad bets on derivatives. In a unscheduled conference call, chief executive Jamie Dimon reported the trades cost the company around $2 billion in recent…

Senate panel to examine overturning Citizens United ruling in July

The Senate Constitution Subcommittee will hold a hearing on constitutional amendments aimed at overturning the Supreme Court’s controversial Citizens United decision on July 17, Senate Judiciary Committee Chairman Patrick Leahy (D-VT) announced on Thursday. “The devastating effects of the Court’s divisive decision in Citizens United are already being felt in…

Colorado marijuana legalization campaign runs first TV ad

The Campaign to Regulate Marijuana Like Alcohol unveiled its first television advertisement on Thursday, urging voters in Colorado to legalize recreational use of the drug. In the 30-second ad, a young woman sends an email to her mother explaining why she uses marijuana instead of alcohol. “I used to drink…

Guantanamo testimony released after censorship ‘mistake’

WASHINGTON — The Pentagon on Thursday released testimony that was censored during court appearances made by the September 11 suspects at Guantanamo on Saturday, with a spokesman attributing the omission to a mistake. Michael Schwartz, a lawyer for Walid bin Attash — one of the five accused of plotting the…

Black voters seen backing Obama despite gay marriage stance

WASHINGTON — Barack Obama’s support for same-sex marriage should not cost him many votes among African Americans in this November’s presidential election, political analysts said Thursday. Ninety-six percent of African Americans — who make up 13 percent of the country’s total population — voted for Obama in the 2008 election…

Lesbian leads top cop in New York mayor polling

NEW YORK — New York could get its first woman — and lesbian — mayor next year, according to a poll Thursday that showed influential city legislator Christine Quinn well ahead of popular Police Commissioner Ray Kelly. Neither has declared their candidacy, but Quinn, a Democrat, has long been expected…

Obama ad slams Romney on gay rights

WASHINGTON — A day after President Barack Obama strongly backed gay marriage, his campaign sought a political dividend Thursday, condemning Mitt Romney for wanting to turn “backwards on equality.” In an Internet video slamming the Republican presidential candidate for backing a constitutional amendment defining marriage as between a man and…

Mother of murdered gay son: Romney’s prank was ‘an act of torment’

Judy Shepard, whose son was murdered for being gay, blasted Republican presidential candidate Mitt Romney for allegedly harassing prep school classmates he judged to be too effeminate. “While this may seem like an innocent prank to some, it was an act of torment against a child for being different,” Shepard…

House approves amendment to prevent ‘undermining’ of DOMA

The U.S. House of Representatives on Wednesday night approved an amendment to the Commerce-Justice-Science Appropriations bill to prevent the Obama Administration from taking legal action against the Defense of Marriage Act (DOMA) or state constitutional amendments prohibiting same sex marriage. “As many of us know, just last night the 30th…

Montana judge strikes down birth control ban

A judge in Montana ruled this week that the state’s ban on using taxpayer money to provide birth control coverage to girls on the Healthy Montana Kids program is unconstitutional. Montana District Court Judge Jim Reynolds said in his ruling that the state had failed to provide evidence that the ban…

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