this morning the olympic committee responds. newsroom begins right now. good morning. happy friday 13th. i m carol costello. we begin this hour with a very bad day for the nation s biggest banks. jpmorgan chase and its ceo jamie dimon are opening their books and telling us just how much money the firm lost in a bunch of risky trades. the blunder stunned the financial world and fueled more debate on whether banking regulations are tough enough. alison kosik is at the new york stock exchange and has been listening to a jpmorgan conference call this morning. alison, what have you heard? if you re totalling up the losses so far this year from those trading losses from the risky trades, what it adds up to is $5.8 billion. that s almost triple what was originally thought. but jamie dimon said they could get bigger by another $1.7 billion. keep in mind just because the trades were discovered and announced to everybody, you know, they can t just suddenly be stopped. so what has
i am going to eliminate every non-essential program i can find, that includes obama care, and i will work to reform and save romney is getting hammered in the wake of that by the naacp. jim acosta is live in houston this morning. good morning. how did it go? well, soledad, whenever you get booed for 15 seconds it is not exactly going well. the romney campaign did send out some of their folk who is do outreach for the campaign with the african-american community to talk to reporters. i was there. they said that they were pleased overall with what he got in terms of applause. he did sort of get a standing ovation at the end of the speech. about half the crowd stood up and plauded. it wasn t all boos for the former governor. soledad, what is sort of interesting is what romney has said after that speech. he went to a fundraiser in montana last night and basically said that he was okay with the reaction that he got. he said in an interview right after the speech on another
dropping out of sight. i m wolf blitzer. you re in the situation room. we begin with today s damming new report on penn state s university s cover-up of coach jerry sandusky s sexual attacks on young boys. it says the top people at the university including the legendary football coach, joe paterno, hid what they knew and had no regard for the young victims. just now university officials are promising it will never, never happen again. you should know that our hearts remain heavy. and we are deeply ashamed. we re in no way lessening our focus on our own failings. we also are committed to helping to build greater awareness of the societal issue of child abuse. cnn s susan candiotti is joining us now. louis freeh led this study. it was very, very bitter and damming. reporter: it was, wolf. right out of the gate, louis freeh made it clear that children were victimized because four top penn state officials did nothing to stop jerry sandusky. and named names including a
of what we do will be determined not just by the obama administration by what the fears are in congress. it ultimately has the veto power over u.s. aid as well. we ll be close attention to what happens. thank you. rolling right along. welcome back. hour two. the u.s. supreme court strikes down most of arizona s immigration law. both sides are claiming victory today. i want to break it down point by point. there are three major planks in the law. they are out. the first would have allowed police to arrest immigrants without warrant if they had probable cause a crime had been committed. number two a crime not to carry registration papers or i.d. the third that was struck down would have prevented illegal immigrations from trying to get jobs. those provisions are gone. the part of this legislation that still stands is this part. it says police can check a person s immigration status while enforcing other laws if they have reasonable suspicion that this person is in the u.s.
attorney general, an attorney day for your time, i m sure you know the country and perhaps the world will be watching as you implement this law going forward. we start the 11:00 hour here on the east coast. several important decisions from the united states supreme court today. this headline, the big health care decision will not come until thursday, that will be the final day of this year s supreme court term, including the charge of the president s signature first term initiative, also called obama care. but a most important verdict in the arizona immigration case, several provisions thrown out as unconstitutional. the justices saying the state of arizona was trying to essentially police immigration which is a federal purview, but one very controversial show me your papers provision left in place. that is if a police officer stops somebody for some other reasons and has suspicion that they re here illegally, they can ask for their papers. take us inside the room. again, e