Judge wont dismiss John Edwards charges
RALEIGH, N.C. A federal judge refused to throw out campaign corruption charges against John Edwards on Friday, meaning the former presidential hopeful will have to present his case to a jury.
Lawyers for Edwards argued before U.S. District Court Judge Catherine C. Eagles that prosecutors failed to prove the 2008 candidate intentionally violated the law or that some of the alleged offenses actually occurred in the Middle District of North Carolina, the venue where he was indicted.
After two-and-a-half hours of arguments from the defense and rebuttal from the prosecution, the judge ruled quickly from the bench that the government had met its basic burden under the law.
JPMorgan sets off call for heavier regulation
WASHINGTON A surprise $2 billion trading loss by a division of JPMorgan Chase triggered calls Friday for tougher regulation of banks three years after their near-death experience in the financial crisis.
Stock in the bank, the largest in the United States, lost 8 percent of its value in minutes on Wall Street, and other American and British banks suffered heavy losses as well.
JPMorgan Chase said Thursday that it lost the money in a trading group designed to manage the risks that it takes with its own money. CEO Jamie Dimon said the banks strategy was egregious and poorly monitored.
The disclosure, a surprise to stock analysts, quickly revived debate about whether banks can be trusted to handle risk on their own in the age of too big to fail.