reporter: the new view is that our kids read too much fiction, books like this, and not enough about things like electricity, whales and the solar system. woodruff: and two economists offer their prescription for addressing what they call the human disaster of long-term joblessness. brown: that s all ahead on tonight s newshour. major funding for the pbs newshour has been provided by: citi turns 200 this year. in that time, there have been some good days and some difficult ones. but through it all, we persevered. supporting some of the biggest ideas in modern history. so why should our anniversary matter to you? because for 200 years, we ve been helping ideas move from ambition to achievement. and the next great idea could be yours. by nordic naturals. and the william and flora hewlett foundation, working to solve social and environmental problems at home and around the world. and with the ongoing support of these institutions and foundations. and. this program was
Transcripts For CSPAN2 U 20120515
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welcome back to first look. i m lynn berry, and here are some of your top headlines this morning. in one of the most shocking and gruesome acts seen in mexico s ongoing drug wars, 49 mutilated bodies were found dumped on the highway a little over an hour s drive from the texas border yesterday. the dead are thought to be victims of an escalating battle between two rival cartels. in afghanistan, a top peace negotiator was shot and killed on his way to work in kabul. the taliban denied involvement in the killing of arsala rahmani just a week before a key nato summit meeting in chicago where afghanistan will be a major topic. in southern yemen, 42 people have been killed in fighting between the army and al qaeda militants. the militants used warplanes and heavy artillery in the battle,
that friday. the search is the biggest in the burbank area in 20 years. 100 fbi agents. 40 sheriff s deputies and dozens more law enforcement agencies so all hands on deck for this situation. okay. we ll follow it. thanks so much. it may not come as news that if you lose $2 billion of your company s money you re probably going to lose your job. we re talking wall street. a bank that had been considered rock solid. the battle days of the meltdown are still fresh in our memories. a name you probably never heard of, ina drew, is the financial headline of the hour. she was the jpmorgan chase executive who oversaw the disastrous trade that her boss spent the entire weekend explaining. it was a stupid thing that we should never have done but we re going to earn a lot of money this quarter. it isn t like the company is jeopardized. we hurt ourselves and our credibility, yes. that we have to fully expect and pay the price for that. christine romans joining me from new york to
ultimate price for mistakes that led to startling losses that sent shock waves throughout the financial world. the bank s chief investment officer is among the reported resignations. nbc s brian mooar reports. reporter: from the ceo of jpmorgan chase, an unambiguous explanation on a stunning $2 billion trading loss. we made a terrible, egregious mistake. but there s almost no excuse for it. reporter: jamie dimon shrugged off mounting concerns last month that something was terribly wrong with a $100 billion hedge investment that now is being described as a bad bet. we know we were sloppy. we know we were stupid. we know there was bad judgment. reporter: it is a nightmarish reminder of the wall street meltdown that upended the economy four years ago. main street americans paid a steep price for those bailouts, and the economy is still crawling toward a recovery. this time around, jpmorgan s reputation and its stock price are taking a hit, but the company still expects
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