Following JP Morgan's disclosure of a $2 billion loss, a small but increasingly vocal group of lawmakers and economists are arguing that a 60-year-old piece if financial legislation should never have been repealed in 1999.
They say the law, known as the Glass-Steagall Act, was so consequential that there's a direct link between its repeal and both the 2008 financial meltdown and JPMorgan's huge loss.
Chinese legal activist Chen Guangcheng, center, arrives at Washington Square Village on the campus of New York University on Saturday in New York. Chen escaped from his village in April and was given sanctuary inside the U.S.
Update At 7:47 P.M. ET. Chen Guangcheng Addresses A Crowd Outside New York University:
Addressing a crowd outside New York University, Chinese dissident Chen Guangcheng said he was grateful to the U.S. Embassy staff in Beijing for providing him a "safe haven." Through an interpreter, he said he was gratified that the Chinese government was handling his situation with "restraint and calm" and thankful for the opportunity to leave China to study at NYU.
Chen said he hoped Beijing would keep its promise to protect the family he had left behind.
NPR's Scott Horsley talks about what some are terming the "diplopaloozaa" this weekend, when President Obama hosts the G8 conference at Camp David on Saturday and the next day plays host to two dozen NATO heads of state in Chicago.
Blind Chinese activist Chen Guangcheng and his family are due to arrive in Newark this evening after a surprise early-morning flight from Beijing. Host Guy Raz gets the latest from NPR's Michele Kelemen, who's been following the story.
John Mayer is one of the biggest-selling artists of the last decade — and with love interests like Jessica Simpson and Jennifer Aniston, one of its most pursued by the media. In 2010, he gave a pair of interviews to Rolling Stone and Playboy that shocked readers with sexually aggressive and racially insensitive language. Mayer seemed to be self-destructing in full view of his fans.
At 73, Tamae Watanabe is the oldest woman to summit Mount Everest — again. The last time she made the record, she was 63.
She reached the top with four other team members Saturday morning after an all-night climb, Asian Trekking says. The Japanese mountaineer was leading Asian Trekking's International Everest Expedition 2012.
The Facebook IPO hasn't just sent a jolt of excitement through Silicon Valley, there are many average individual investors who are also thrilled. NPR's Sonari Glinton has more.
SONARI GLINTON, BYLINE: All right. It's a little after 9:30 on Friday. The bell just rang on the NASDAQ, and I'm gonna check in with some regular investors. I'm gonna start with Nelly Sai-Palm. She's a student at the University of Chicago's Booth School of Business, and I'm going to give her a call.
This is WEEKEND EDITION from NPR News. I'm Scott Simon. Stock in Facebook went on sale for the first time yesterday, the largest initial public offering of stock for an Internet company, and the sale instantly created scores of millionaires in Silicon Valley, about half a dozen or so billionaires. NPR's technology correspondent Steven Henn joins us. He's followed it all from Silicon Valley. Steve, thanks for being with us.
This afternoon, the 137th running of the Preakness takes place at the Pimlico Race Course in Baltimore. Kentucky Derby Winner, the horse called, I'll Have Another, will try to capture the second jewel in the Triple Crown of Horse Racing, something only 10 horses have done since 1978. I'll Have Another, its trainer and owner all come from Southern California, and hopes are high that a big win will give a much-needed boost to horse racing in the California. NPR'S Carrie Kahn reports.