Daily Political Wire

George Wenschhof

JP Morgan Chase Loss Climbs To $3 Billion - seems the risky trading in derivatives has resulted in an even larger loss than the initial $2 Billion reported - time to reinstate the Galss-Steagall Act.  The NY Times has more here.

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FBI Opens JP Morgan Chase Investigation - to see if there were any criminal wrong doings which took place leading to the $2-3 Billion loss reported.  CNN.com has more here.

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Romney Campaign raises $40.1 Million in April - this amount includes maoney raised by the RNC Victory Fund and is close to the $43.6 million reported by the Obama campaign.  The Romney campaign reported $61.4 million cash on hand.  Politico.com has more here.  Campaign Finance Reform, anyone?

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The Fix Unveils Electoral College Map - the Washington Post Blog published their reading of the current electoral map.  The winner must receive 270 electoral votes to become President.  As of now, President Obama has a minor lead with 196 votes firmly secured and Mitt Romney has 170.  As the race progresses, the map will be updated.  You can read more here.

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Maryland Legislature Approves Tax Hike - the three day special session convened by Governor Martin O'Malley (D) ended yesterday with approval to raise taxes on earners over $100,000.  They also voted to shift the finacial burden of teacher pensions to counties over a phased in period.  The special session was needed when lawmakers ran out of time reaching an agreement during the regular session.  You can read more here.

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Arizona Special Election For Giffords Seat Nears - it will be held on June 12 and be watched by national political leaders to see what, if any implications, will apply to the November elections.  RollCall.com has more details here.

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Unemployment Claims Unchanged Last Week - figures released by the Labor Department showed jobless claims remain at 370,000 for the week ended May 12.  Hopes were the numbers would have declined.  Bloomberg.com has more here.

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