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His previous testimony. they ve been trying to portray andrew young as soliciting the funds in question from two wealthy donors without the knowledge of john edwards. john moylan a south carolina attorney and close friend of john edwards described a visit with one of those two donors, rachel bunny mellon in which the heiress informed edwards about secret money she funneled to young. he said bunny should not be sending money to anyone. he went onto say, i believe to this day that andrew young was using senator edwards name to get money from mrs. mellon. so the defense trying to discredit young s testimony and portray him as having alterior motives, bill. bill: thank you jonathan serrie, live in greensboro, north carolina. martha: there is new fallout in the standoff between the white house and catholic ....
for the nuts and bolts on this fias fiasco, it s the impact on the markets and your own investments. alison kosik joins us now. just what was this massive trading bet all about? before it went south? reporter: fredricka, what jpmorgan essentially did was made a big game am. they made risky bets and lost. the bets they made were to protect against possible losses on jpmorgan s other investments, but clearly they backfired and the bets produced losses of their own. how did this come out? it came out in a surprise conference call that ceo jamie diamond called for lamon called. shares are down almost 8% right now. shares of others are getting hit hard right now. wall veit is worried about other banks wondering, you know what, if jpmorgan can do this and it s considered the stronger of the banks or the strongest of the banks, what kind of bets are the other banks making especially, once again, that aren t as strong as jpmorgan? fredricka? so the ceo, jamie dimon, had qui ....
Campaigning. edwards said he enjoyed a visit to her home and looked forward to working with mellon in the future. how use full has edwards former speechwriter been for the prosecution thus far? reporter: bill, the prosecution is trying to show edwards was well aware of millions of dollars from two wealthy donors used for you have purposes of keeping his presidential campaign viable. wendy button told her recently only found out about $725,000 in checks. one of those donors, rachel bunny mellon fun they would to campaign aide andrew young. according to button edward was aware of his campaign finance chairman fred baron had been supporting his mistress rielle hunter and her baby, francis quinn hunter. quote, fred has been taking care of things all along but that he didn t know the details. bill? bill: so i don t know ....
Client, rachel bunny mellon considered edwards a personal friend and was responding to a request for funds to help with an unspecified personal issue. mellon considered her donations to not be campaign contributions. she wasn t interested in being named secretary of state or body, it was the person that interested her. another witness, tim tobin, just wrapped up cross-examination by the defense. yesterday tobin told prosecutors about a meeting he had with edwards in 2008 in which the former presidential candidate discussed funding and advocacy group for the poor. according to tobin, edwards said he had a friend, mrs. mellon, who had great wealth. it would be a chip shot for her to endow that foundation with $50 million. but tobin said a year later he had another meeting with john edwards in which edwards denied that he had initiated the $50 ....
The government s case. it s a tough case for the government. they had to show willful misconduct by edwards. and bunny mellon s lawyers said that bunny mellon thought this money was for a personal, not a political matter. he thought that was the case. and from everything he knew, edwards thought it was for a noncampaign matter. if the government thought that mellon s lawyers was going to make their case, they were disappointed. appreciate your time, sir. thank you. folks, your commute could be hazardous to your health. cnbc s mandy drury is here now with what s moving your money and details of a new study as well. what s the takeaway here? researchers at washington university in st. louis have found that people who live more than ten miles from their work are more likely to have high blood pressure than people with shorter commutes. and if you commute more than 15 miles each way, you re much more likely to be obese. basically it s kind of intuitive. you re not finding enough time ....