Washington D.C.—Shares in JPMorgan Chase dropped nine percent after the bank, which is the largest in the U.S., revealed a trading loss of $2 billion.
The chief executive Jamie Dimon blamed the losses on “errors, sloppiness and bad judgement.”
The New York Times reported that the Securities and Exchange Commission (SEC) has already begun an investigation into the company.
Washington D.C.—General Martin Dempsey, the Chairman of the Joint Chiefs of Staff, has ended a voluntary class at the Joint Forces Staff College in Va. that advocated a “total war” against Muslims. The class also suggested possible nuclear attacks on holy Muslim cities like Mecca.
The officer in charge of the class, Lieutenant Colonel Matthew Dooley has been suspended from teaching but has kept his job at the college.
Dempsey ordered a full investigation after one of the students objected to the material.
Washington D.C.—Potential Republican presidential candidate Mitt Romey has apologized for “pranks” that he committed in high school. This apology came as a result of a report that he bullied a classmate who was thought to be gay.
“The Washington Post” reported that in 1965 Romney allegedly held down a younger student and cut off his hair.
Romney said that he did not remember the incident but apologized for “pranks that may have gone too far.”
Los Angeles, CA.—A former detective, Stephanie Lazarus, has been jailed for murdering her ex-lover’s wife. After 26 years, she was found guilty in March as a result of DNA from saliva found in a wound on the arm of the victim, Sherri Rasmussen.
At the time of the killing in Feb. 1986, police thought robbers were responsible.
When presenting their case, prosecutors said Lazarus had become jealous when her college sweetheart, John Ruetten, married Rasmussen.
BBC/Compiled by Logan O’Keefe