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Fallout at JPMorgan Chase; Yahoo! CEO Out; Decapitated Bodies Dumped On Highway; Edwards Defense Team To Present Case

Aired May 14, 2012 - 05:00   ET


ZORAIDA SAMBOLIN, CNN ANCHOR: We have a new opening this morning.

Good morning to you. And welcome to EARLY START. I'm Zoraida Sambolin.

ALI VELSHI, CNN ANCHOR: I'm Ali Velshi, in for Ashleigh Banfield.

It's 5:00 a.m. in the East.

Not only that we have new opening. We have -- I walk to the studio this morning and I said lighting really changes a place. It looks yellow.

SAMBOLIN: It was painted.

VELSHI: I had no idea it was painted. So, it's all new. That is our beautiful, beautiful new studio. What a pleasure to work with you.

SAMBOLIN: I'm so excited to have you here. You are wired, dude, you are wired.


VELSHI: But that's OK because there's lots of news this morning.

SAMBOLIN: We're looking forward to it.

And up first this morning, heads about to roll at JPMorgan Chase.

And according to Bloomberg, the firm's entire London staff could be dismissed. The banking giant also expected to accept the resignation of this woman, Ina Drew. She is the chief investment officer at JPMorgan Chase and one of the highest ranking on Wall Street, pulling down a salary of over $15 million a year.

Drew and two other company executives are being held accountable for a stunning $2 billion loss.

CEO Jamie Dimon doing damage control on Sunday talk shows.


JAMIE DIMON, JPMORGAN CHASE CEO: It was a stupid thing that, you know, we should never have done but we're still going to earn a lot of money this quarter. It isn't like this company is jeopardized. You know, we hurt ourselves and our credibility -- yes, that we have to fully expect and pay the price for that.


SAMBOLIN: Christine Romans is here with us this morning.

And how much worse is this going to get? I know we were hearing about billion dollar loss, that they're going to weather it. So, the big question from me this morning anyway is why should we care?

CHRISTINE ROMANS, CNN BUSINESS CORRESPONDENT: I mean, the real damage here is for JPMorgan CEO and his reputation. And why should we care? I mean, here's just a few years after the financial crisis, you've got a company that was making bets for itself, that lost $2 billions on those bets, and that's something that Washington had been trying to rein in. And, in fact, Jamie Dimon has been front and center. He has been the industry's, I guess, poster child for making sure that they don't have new regulations.

So for all the millions of dollars that the banks spent, including JPMorgan, to try to lobby against just this sort of kind of behavior running wild on Wall Street -- he now has a lot of egg on his face, quite frankly. I mean, this is a reputational problem for him.

I mean, the company is a huge company -- $2 billion trading loss is extraordinarily stupid and embarrassing.

VELSHI: Right.

ROMANS: Really embarrassing. I think you could see more heads roll, actually at JPMorgan Chase because Jamie Dimon would be in a lot of pressure to fix this.

VELSHI: This company came through the financial crisis very well. Jamie Dimon was thought to be a real leader. Some even talked about him even becoming treasury secretary.

ROMANS: In fact, I can remember just a few years ago people were saying it's too bad for the financial crisis, because Jamie Dimon, the only other thing that would have capped his stellar career in banking would have been treasury secretary. He is someone who the president knows. He is someone who during the financial crisis, when there were questions about how banks work and while it's happening, he was someone who is trusted to talk to the president and other people about this.

And Jamie Dimon is someone who, people who work for him, he's a real task master. He believes in profits and results and so you can imagine that he's furious that this has happened there. Especially since it makes him look like, as the guy who has been saying, you know --

VELSHI: Don't over-regulate.

ROMANS: Don't over-regulate me and has bee been very vocal about his dislike for the Volcker Rule. Now, he's sort of opposed to -

SAMBOLIN: What happens to him?

ROMANS: Nothing happens to him.

VELSHI: Probably not much. There are some executives leaving.

You know what people have been asking me on Twitter, and on Facebook, this question -- why do I care? These guys are greedy. They are all greedy. What do I care that they lost 3 billion? My issue -- or $2.3 billion. My issue is that this happened in 2008 with AIG and it nearly took down the global financial system.

I want to know this is going on. I want to know it's not going on.

ROMANS: So, this is -- the kind of trading instruments we're talking -- we're talking about indexes on credit default swap. It's insurance on insurance. That the company -- was it a hedge or was it a raw bet that went wrong?

VELSHI: Right.

ROMANS: When you talk to people in the hedge fund world they're all kind of like giggling a little bit to themselves, because they know that Jamie Dimon and that position are probably getting hammered right now. There are people trying to make money off of Jamie Dimon's unfortunate position and bad bet in the markets.

So, we'll watch -- we have Dow futures are down 100 points right now, folks. It's not because of the banks but because of Greece. Some developments in Greece. We can talk about that later.

But these stocks got hammered last week. They could get hammered again. So, we'll be closely watching this.

If you're a shareholder to banks at JPMorgan, it means for you. If you're a shareholder in JPMorgan and you might have it in your portfolio, you don't know. It could be a mutual fund, then you're getting hurt a little bit.

SAMBOLIN: We want to know more about this woman Ina, but I know we are out of time. Maybe we'll get to that a little bit later.


SAMBOLIN: A superstar, right?

VELSHI: Hey, there's also some breaking news involving the ex- Yahoo! CEO who has resigned over his resume.

"The Wall Street Journal" is reporting that before resigning this weekend, CEO Scott Thompson told the company's board of directors he had thyroid cancer. The report says the cancer diagnosis was in part responsible for Thompson's decision to step down after just four months on the job. His resume claimed a computer science degree that he never had.

The company says Thompson will be succeeded by senior Yahoo! executive Ross Levinsohn will now becomes the interim CEO.

SAMBOLIN: And a big day for Facebook CEO Mark Zuckerberg. He turns 28 years old. Can you believe that? Today kicks off a huge week for the young tech tycoon.

Facebook is expected to start selling stock and begin trading on the NASDAQ this Friday. The IPO could value the company at $100 billion. Making it worth more than Disney, Ford and Kraft Foods.

VELSHI: Poor guy. This is his last birthday before being a super gazillionaire.

All right. Look at that, fire crews in Arizona has got their hands full, with four separate wildfire burning across the state. The biggest, something called the sunflower fire, was first spotted on Saturday in the Tahoe National Forest near Payson, Arizona. By Sunday, 2,700 acres had burned.


UNIDENTIFIED MALE: The terrain is extremely rugged out here, lots of steep canyons, you know, rocky. And the other variable is the dry, hot conditions.


VELSHI: Officials say extreme heat and dry vegetation have caused a higher than normal fire risk in some parts of the state.

SAMBOLIN: And a big day in the John Edwards corruption trial. It is now the defense's attorney to present its case. Lawyers for the former senator argued for a mistrial on Friday, claiming prosecutors failed to prove their case. The judge denied that motion.

It's not clear which witnesses will be called today. Edwards is not expected to testify.

VELSHI: This is interesting. The cover of "Newsweek" is raising a few eyebrows. Take a look.

It's got a picture of President Obama with a multicolored halo over his head, perhaps the rainbow symbol for gay pride, describing him as, quote, "The first gay president."

Last week the president made history by publicly backing same- sex marriage. And this afternoon, president will be in New York attending a lesbian, gay, bisexual, transgender event hosted by singer Ricky Martin. Guests paying up to $35,000 apiece to attend.

SAMBOLIN: "Newsweek" has a history of talkers with their covers, don't they?

VELSHI: Yes, they do.

SAMBOLIN: All right. He's a father, husband, former police officer and most recently an FBI agent specializing in counterterrorism. Now he's also missing. Find out why everyone is so worried, after the break.


SAMBOLIN: Welcome back. Ten minutes past the hour here.

A major manhunt is under way in southern California, 100 FBI agents and dozens more law enforcement officers are on the hunt, not for a fugitive but a fellow agent missing since last week.

Our Alina Cho is here with more.

And this incredibly bizarre --


SAMBOLIN: -- and turned into a very sad story.

CHO: Well, let's hope not. But it's looking that way. You know, this has sparked the largest manhunt in Burbank, California, in two decades. It's really incredible what's happening, Zoraida. Good morning.

Good morning, everybody.

And what is so troubling about this story that is special agent Steven Ivans, the man who was missing -- is said to be despondent and possibly suicidal.

Now, authorities won't say why they believe that's the case, but it is a big reason why those searching for him are so concerned.

Now, where's what we can tell you at this point. Ivans, who is 35 years old, was last seen on Thursday night, that's according to authorities. On Friday morning, the next morning, police say he left his Burbank home on foot and then simply disappeared.

And it is believed that he took his handgun with him.


STEVE GOMEZ, FBI SPECIAL AGENT: There is no history of violence associated with special agent Ivans or any known threat to the community as the investigation has covered no evidence of foul play. Special agent Ivans is known to have been distraught and investigators believe he may possibly be suicidal.


CHO: He is known to be an avid hiker and runner. FBI officials say dogs had tracked Ivans' scent near the Verdugo Mountains , that's east of Burbank. Since then authorities have widened their search and are looking throughout Los Angeles County, a big area, as you might imagine.

The big question remains, why would this FBI agent seemingly well liked by colleagues, a father and husband simply vanish into thin air? Why would he leave, Zoraida? And more importantly, where is he now? Those are questions he simply can't answer right now.

SAMBOLIN: How long has he been an FBI agent? Because he has quite a career.

CHO: He does. A long story in law enforcement, with the FBI for about three years, he worked in national security on counterterrorism cases, specifically. He's said to be a valuable member of the team, never had any disciplinary problems and before that, he was an L.A. police officer for eight years.

So, again, a long history in law enforcement. And why he disappeared, still a big mystery.

SAMBOLIN: I can't imagine what his family is going through right now. Have we heard from them?

CHO: Well, as you can imagine, law enforcement is working very closely with his wife, as I mentioned, husband and father, father of a 1-year-old child, a son. Married, in fact it was his wife who reported him missing on Friday morning at about 7:30 a.m. She did tell authorities that the last time she saw him is when she turned into bed on Thursday night.

SAMBOLIN: Oh, my goodness.

CHO: Friday morning, he was gone.

SAMBOLIN: His family also at work, right, worried about him.

CHO: Yes.

SAMBOLIN: Unbelievable.

Thank you for the details. We wish that family well.

Ali, back to you.

VELSHI: All right. It is some number of minutes after the hour. Let's get you up to date. Haven't done this for a while, Christine? I don't have a clock in front.

Let's call it 13, 14 minutes after the hour. Time for the news.

ROMANS: All right. Shaking things up over at JPMorgan Chase, that's the big story this morning.

According to published reports, the London staff of JPMorgan Chase's chief investment office could be dismissed, that entire office. Several reports also say chief investment officer Ina Drew is expected to resign after the firm's stunning, embarrassing $2 billion trading loss.

CEO Jamie Dimon confirming the banking giant could lose another billion from risky trade before it all shakes out.

Arizona on fire. Crews battling for separate wildfire across the state. The largest consuming some 2,700 acres in Arizona's Tonto National Forest.

Firefighters are attacking the flames from the ground and the air with tankers and helicopters, trying to get the upper hand.

Talks resume this morning in Greece, in a desperate effort to form a new government to deal with the country's economic crisis. Following last week's elections, Greece's president called on major political party leaders together for a meeting to produce a coalition. If they fail, Greece will have to hold elections next month.

And Dow futures are down 100 points because of that unease about Greece.

A campus in mourning. Boston University holding a candlelight vigil for three students killed in New Zealand in a tragic car accident this weekend. Five other students were injured, one critically. They're part of a group of B.U. students studying abroad. Students were on a sight-seeing trip to one of New Zealand's national parks.

Uganda says it's one step closer to catching Joseph Kony. Caesar Achellam was captured this week in the Central African Republic. That's where U.N. officials believe Kony is hiding. He is the leader of the Lord's Resistance Army, the subject of that viral video, Kony 2012.

Kony is accused of recruiting children as soldiers and sex slaves.

The U.S. Army is now placing women in combat, opening 14,000 combat-related jobs to women starting today. Six new military occupations now open to women, including intelligence sergeant and health care sergeant. Still, 30 percent of army jobs will remain restricted to men.

If you're leaving house right now, you can watch us anytime on your desktop or your mobile phone, just got to

Zoraida, it is 16 minutes after the hour. Can you please tell Ali?

VELSHI: Zoraida reminded me I have a watch. I said there were any clocks anywhere. There wasn't one on the screen and there wasn't a clock in front of me. She looks at my sleeves and said, do you have a watch?

He has a blackberry, two computers, a watch -- doesn't know.

SAMBOLIN: There's one on top of the camera.


VELSHI: I didn't sleep so much last night.

SAMBOLIN: I know. We're going to cut you some slack today.

VELSHI: Thank you.

SAMBOLIN: Time for "Early Read."

This is a really disturbing story in "The New York Times." Can young children be diagnosed as psychopaths? A researcher in Florida has been studying children who are considered at risk of becoming psychopathic adults. These kids exhibit distinct behavior, such as lack of remorse and empathy.

Researchers hope that if they can catch at risk children early enough, they can possible treat these behaviors.

But critics say labeling children psychopaths could doom them for life. It is a fascinating read. They talk about one little boy who threw another boy into the deep end of the pool and then just watched him drown. And when the police asked him why did you do that? The little boy said I wanted to see what it looked like for somebody to drown. Bizarre.

VELSHI: That is weird.

All right. "The New York Times" is also reporting that the shuttle Enterprise is a step closer to its final destination on board the USS Intrepid in New York City. Going to be excited about that.

The shuttle was separated yesterday from the 747 jumbo jet that brought it here from Washington. Remember a couple weeks ago we saw it fly in. It will stay in an airport hangar for a few more weeks before moving to the Intrepid. It will be brought over on a barge.

A public exhibit is expected to open in July.

Have you had a chance to get on the Intrepid yet?

SAMBOLIN: I have not.

VELSHI: Let's go together.

SAMBOLIN: Great idea.

VELSHI: Just down the street.

SAMBOLIN: OK, I want to take my kids as well.

VELSHI: We'll do the whole family, ice cream and all that.

SAMBOLIN: All right. "The Milwaukee Journal Sentinel" has a story on John Axford's wild weekend. Axford, pitcher for the Milwaukee Brewers lost his streak of 49 consecutive saves Friday night. He ditched a postgame interview. You know, he always grants those interviews because his wife went into premature labor.

Axford left this note for the media. Quote, "I put my wife into contractions with my performance tonight so I had to run to the hospital. The streak is over is now you can talk about it, the luck I've had in the past didn't show up tonight. All I can do is begin another streak and keep my head up. Got to go! Love."


SAMBOLIN: That was incredible. She did not deliver the baby. It was preterm labor, she's fine, everything is OK.

VELSHI: So, that will come along. The baby is expected, second son, in June.


VELSHI: For an expanded look at our top stories, head to our blog,

SAMBOLIN: And it's no surprise that Yahoo!'s CEO is amid a resume padding scandal. The real shocker now, is what Scott Thompson told the board of directors on his way out the door. We're going to tell you right after the break.


SAMBOLIN: Welcome back, folks. It is 22 minutes past the hour. We're minding your business this morning.

U.S. markets closing lower two weeks in a row now. The Dow lost about 30 points on Friday. The NASDAQ closed almost flat and the S&P 500 also closing in the red.

VELSHI: I don't know how it will close but I can tell you, it probably won't open well. U.S. stock futures down sharply this morning. A lot of uncertainty in the markets.

This isn't about JPMorgan Chase, which we have been talking about. This is actually mostly about Greece, negotiations continue. There's still no government in Greece.

Christine is here following that.

And mostly, this issue about Yahoo. There's new developments overnight with the CEO of Yahoo! leaving.

ROMANS: Some resolution there. We've been telling you about the resume scandal over there at Yahoo.

This was a guy who was brought in with a $26 million potential pay package earlier this year. His name is Scott Thompson. He was brought in because this is a company that's been in turmoil, quite frankly. They lost their COE late last year.

I mean, the board has been -- activist board members -- shareholders rather who want seats on the board. This guy was going to come in and fix it. And then, some of the activist board-seeking shareholders said this guy's resume doesn't look right. There was a scandal about whether he had a computer science degree. It turns out I think he had an accounting --

VELSHI: Which is a good degree to have.

ROMANS: He does have a bachelor's degree but it turns out they didn't have a computer science degree at the university at that time. The board was investigating how this happened, what these inaccuracies were on his resume.

Well, now, he's stepped down. There's a twist here. He's out but there's a twist.

According to "The Wall Street Journal" and other -- "New York Times," I think, as well, he has told his board he has cancer, thyroid cancer.

So, here's a guy who's fighting for his reputation and fighting for all of -- fighting to get the focus back on fixing the board, and now he's telling friends and board that he has thyroid cancer. So, a very complicated and tortured few weeks for this gentleman.

VELSHI: This isn't sort of a Breitbart moment. The Yahoo! board has been a bit of a disaster for a long time. They rejected great offers to take over the company and things like that. So, this was a disgruntled investor who said, I need to shake this up and somehow found this.

SAMBOLIN: What compounds me, the fact he lied -- he had a degree but lied about the type of degree --

ROMANS: The funny thing is, in reporting the story, this happens more than you think. And it's interesting, the number one white lie or, you know, outright lie on a resume is exaggerating your credentials and degree.

VELSHI: Which you'd think in this day and age --

ROMANS: The second one is lying about what you worked or what your job was.

VELSHI: The computer science degree part of it was to get credit in the street that he worked in, right?

ROMANS: But it's interesting that the other big story of the day is that Facebook founder turning 28. We now live in a day and age when you don't need the computer science degree, per se. You need to invent something or start something.

So, it's interesting. It's almost like what generation of tech CEO are you? In doing this, we found that a lot of -- when companies find out that you've lied on your resume, they will not hire you, period. Only 3 percent of people say they've lied on their resume but companies say it's much more than that.

What I would say, don't lie on a resume. There are ways to accentuate your positive and eliminate --


SAMBOLIN: And just back to the thyroid cancer, very quickly, is this a recent diagnosis?


ROMANS: We don't know. According to "the Wall Street Journal" he's just now beginning treatment. So that's --

SAMBOLIN: That's terrible.

ROMANS: It's unfortunate. We wish him the best, no question. It's been a rough couple of weeks. All of this has taken the focus off of what the company has to do. And that's what shareholders don't like.

VELSHI: Right.

ROMANS: Although this shareholders, this is what they like. They wanted a new CEO, and they wanted some seats on board.

SAMBOLIN: They got it.

VELSHI: Christine, thank you.

A trip to the store turned into three-day life or death ordeal for a West Virginia woman. This is a remarkable story. We'll tell you how she survived in her car for three days after a crash and here's the part you need to know. The tool she used to free herself. We'll tell you about that after the break.


VELSHI: Hey, good morning. Welcome back to EARLY START. I'm Ali Velshi.

Here is what's happening at half past the hour.

One of highest ranking women on Wall Street, JPMorgan Chase chief investment officer Ina Drew, is expected to resign as early as today in the wake of the company's stunning $2 billion loss. A loss by the way, that could result in the dismissal of the entire London staff of JPMorgan Chase's chief investment office.

CEO Jamie Dimon says no investor money was lost. The firm's stock took a 10 percent nosedive Friday and risky investments could lead to another billion dollars in losses.

Arizona fire crews battling four wildfires across the state. The biggest has already burned 2,700 acres in the Tonto National Forest near Payson, Arizona. Excessive heat and bone dry conditions have been increased the fire risk.

John Edwards is not expected to testify when the defense begins presenting its case this morning in the former North Carolina senator's corruption trial. His lawyers argued for a mistrial on Friday, claiming prosecutors have failed to prove their case. The judge denied the motion, and it's not clear which witnesses the defense plans to call.

Mexican officials try to pressure -- reassure the public this morning that civilians are not being targeted. This comes after the gruesome discovery of at least 49 decapitated and dismembered bodies littered along a highway.

SAMBOLIN: A message left on a wall nearby indicates it could be the work of the Zetas drug cartel. The corpses were found80 miles southwest of the U.S. border not far from Monterrey in the town of Cadereyta Jimenez.


SAMBOLIN (on-camera): Rafael Romo is live with the very latest. He's in Atlanta for us this morning. And Rafael, I got to tell you, the details of this are absolutely horrific.

RAFAEL ROMO, CNN SENIOR LATIN AMERICAN AFFAIRS EDITOR: Zoraida, it's just incredible. Forty-nine bodies, all deposited in the same part of -- along the side of the road in Northwestern Mexico. And apparently, it was not only about the executions, Zoraida, but about a very intentional way of sending a message to a rival drug cartel in mexico.

This happened, as you said, about 80 miles southwest of McAllen, Texas on the Mexican side of the border. Authorities there say that this may be a possibly the result of the turf war being fought there between two very powerful Mexican drug cartels, Los Zetas and the gulf (ph) cartels. Authorities are saying that there's also the possibility that these victims may have been migrants going through that part of Mexico.

As you know, Zoraida, this part of Mexico, some called it the Mexican Bermuda Triangle, because many people have disappeared there or have become victim to organize crimes -- Zoraida.

SAMBOLIN: Well, that area, Estonia (ph) Monterrey, are the people in that area worried that, perhaps, some of the folks that live there will be targeted or have they been? Do we know anything about that?

ROMO: So far, Zoraida, there's no indication that civilians are being targeted. Officials saying this is specifically a fight between these two very powerful criminal groups. Either that or migrants from central America who have to go through that area, but in any case, this is a very lucrative transit point for drugs not only from Mexico but from South America and that's the reason why you see that kind of violent fight between these criminal organizations.

SAMBOLIN: And I'm curious as to how this is affecting tourism, right? Because there are a lot of people who travel to Mexico that are very concerned about some of the violence that happens. You know, you hear about the bodies that are hanging from the viaducts. Is there any plan from the government there as it affects tourism?

ROMO: Look, people who would normally cross border in the southwestern United States and that southeast part of Texas are definitely afraid and are avoiding crossing into Mexico.

However, I was taking a look at some numbers from the tourism office in Mexico and also up here in the United States, and the number of tourists into Mexico from not only the United States and Canada, but also from Europe, increased last year because places like Cancun, places like (INAUDIBLE) are still, for the most part, very safe.

And so, it appears that tourists and foreign visitors are really making a difference into that very violent part of Northern Mexico, the border states, and the typical tourist areas that I mentioned before, Zoraida.

SAMBOLIN: And Rafael, this isn't the first time they find these mass graves, is it?

ROMO: No, no. Last week, Wednesday, there were an additional 18 bodies in Guadalajara, which is the second largest city in Mexico five months before that, an additional 26 bodies, the year before, another 35 bodies in Vera Cruz. You're seeing this kind of massive massacres in Mexico.

And again, the main point here, what the cartels are trying to do is send a message to rivals that a particular territory belongs to them and that they will face the consequences if they dare to enter that.

SAMBOLIN: And just one last question for you, another gruesome details, but how were these bodies found?

ROMO: In this particular case, all of the bodies, according to prosecutors, were dismembered, decapitated. Their limbs were missing, and it appears, Zoraida, what they were trying to do was to make it very difficult for police, for authorities, to identify the bodies. Messages were found right next to the bodies, and one of the messages claimed that it was Los Zetas organization that was responsible for this.

SAMBOLIN: OK. Rafael Romo live for us in Atlanta, thank you very much for that.

ROMO: Thank you. VELSHI: I wish I could give you something more uplifting, but a Georgia woman is now in danger of losing her fingers to flesh-eating bacteria. Twenty-four-year-old Aimee Copeland (ph) became infected earlier this month. She was zip lining over the Tallapoosa River near Atlanta when the line snapped and she suffered a gash.

That cut came in contact with a potentially deadly bacteria. Copeland has already lost a leg and part of her abdomen. Family says they are optimistic, however, awaiting the day when she can speak and breathe again.

SAMBOLIN: Oh, wow.

All right. A West Virginia woman who went to the store last week and never returned home has been found alive. Well, it turns out Veronica McFoy (ph) crashed her car, rolled it down a 30-foot embankment. Take a look at that. She was trapped inside the car for three days. Her husband, Wilford, picks up the story from there.


WILFORD MCFOY, WIFE SURVIVED ACCIDENT: She found a pipe wrench I had in there, knocked the back window out of the back door, crawled out of the back door and crawled up the bank to the main road. It's hard to realize, you know, somebody laying there that long, have lots to think about and whether you're going to die or anything like that.


SAMBOLIN: That's a dog in the background. It was tough to listen to. There was a pipe wrench, I believe.

VELSHI: OK. That's what it -- OK.

SAMBOLIN: All right. Veronica had surgery on Friday. She suffered broken rib, a broken back, a broken arm, and a broken collar bone. Her husband says she managed to survive on rain water and some soda that she found in the car.

VELSHI: Wow. All right. Mitt Romney's son booed off the stage this weekend by Ron Paul supporters at a Republican Party delegate convention in Arizona. Josh Romney was seeking to solidify support for his father's nomination, but listen to the Paul supporters when he tried to tell them how to choose a slate of preferred Romney delegates.



JOSH ROMNEY, MITT ROMNEY'S SON: Make sure that it says paid for Romney and that it's green. I appreciate your support. Thank you very much.


VELSHI: Josh Romney's speech was interrupted several times by boos, and he finally had to cut his presentation short.

SAMBOLIN: Ron Paul's son, Kentucky senator, Rand Paul, taking heat from his own party for a comment he made about the president supporting same-sex marriage. Listen to what he said Friday during a speech at a meeting of the Faith and Freedom Coalition in Iowa.


SEN. RAND PAUL, (R) KENTUCKY: The president, you know, recently weighed in on marriage. And you know, he said that his views were evolving on marriage. Call me cynical, but I wasn't sure that his views on marriage could get any gayer.


SAMBOLIN: That comment drawing quick criticism from Family Research Council president, Tony Perkins, as well as Republican National Committee chairman, Reince Priebus.

VELSHI: An Ohio teen scores a prom date with an NFL player. Eighteen-year-old Joyce Grendel asked Cleveland Browns' quarterback, Joe Haden, to her high school school dance via Twitter, and he said yes. She says it was a last-ditch effort to get a date after her first one backed out. Hayden says he was the one who was nervous.


JOYCE GRENDEL, ASKED NFL PLAYER TO PROM: I said like, hey, Joe, would you consider going to my senior prom with me, because my date backed out and didn't go.

JOE HADEN, CORNERBACK FOR THE CLEVELAND BROWNS: I am nervous, but we take a picture with me and her family and everything. I thought we were legit. I was getting ready, saying does this look cool? Everything right? I mean, I feel like I'm really legit, this is my prom, too.


VELSHI: That so sweet, right?

SAMBOLIN: No kidding!

VELSHI: Haden said he never --

SAMBOLIN: Way to go, dude.

VELSHI: He brought it. He never attended his own prom, he said, because he graduated high school early.

SAMBOLIN: Oh, my gosh. Is that a great -- moral of the story, ladies, never be scared to ask.

VELSHI: Right.

SAMBOLIN: Never be scared. You just never know who's going to roll up and what they're going to roll up in. Unbelievable.

It is 39 minutes past the hour. Hundreds of Americans line for vaccinations against a disease that has not been a widespread threat since your grandmother was a child. They are lining up for this vaccination. Why? We're going to explain this to you right after the break.


SAMBOLIN: Good morning to you, Washington, D.C. Boy, that is a beautiful shot.

VELSHI: Yes. That is stunning.

SAMBOLIN: You never get tired of looking at that, right? It is 42 minutes past the hour. Right now, it is 64 degrees. A little bit later, it's going to be nice, 70 degrees. Hopefully nice and sunny because the skies look blue.

VELSHI: That does look beautiful. Christine, now that we don't have that shot to look at, we'll get something else beautiful to look at. Christine Romans.

CHRISTINE ROMANS, CNN BUSINESS CORRESPONDENT: Oh, flattery will get you everywhere, Velshi. Good morning, everybody.


ROMANS (voice-over): According to public reports this morning, the entire London staff of JPMorgan Chase's chief investment office could be dismissed. And one of the highest ranking women on Wall Street is about to lose her job. The firm's CIO, Ina Drew, is expected to resign as early as today in the wake of company's staggering $2 billion.

The firm's stock price took a 10 percent nosedive Friday. Risky investments could lead to another billion dollars in losses there. This story is not over yet, folks.

Quite a buzz over the cover of "Newsweek." Take a look. Features President Obama with the multicolored halo over his head, the rainbow symbol for gay pride, describing him as the first gay president. Last week, the president made history by publicly backing same-sex marriage.

This afternoon, President Obama will be in New York, attending a lesbian, gay, bisexual, transgender event hosted by singer, Ricky Martin.

Extreme heat and dry conditions are fanning the flames in Arizona. Crews are battling at least four wildfires spreading across the state. The biggest one has already burned through, wow, 2,700 acres of the Tonto National Forest near Payson, Arizona.

The defense begins presenting its case this morning in the corruption trial of former presidential candidate, John Edwards. It's not clear which witnesses they plan to call, but the former North Carolina senator is not expected to be one of them.

Edwards' attorney tried to have the charges thrown out last week, claiming prosecutors failed to prove their case. The judge wasn't buying it.

A semi-pro football player drops dead on the field at a weekend game in Ohio. Thirty-two-year-old David Coleman Jr. (ph) played for the Jay County Panthers of Indiana. Officials say he died after taking a blindside hit during a play against the Northwest Ohio Knights. Authorities believe his death was an accident. No flag was thrown on that play. An autopsy is planned today.

Washington State now battling a whooping cough outbreak with several counties giving out free whooping cough booster shots. Doctors say the vaccination don't guarantee that person won't get sick, but it could make symptoms milder, make you less likely to infect someone else.

There've been no deaths linked to whooping cough this year, but "the New York Times" reports more than 1,200 cases through early May.

The shuttle "Enterprise," a step closer to its final destination onboard the "USS Intrepid" in New York City. The shuttle was separated yesterday from the 747 jumbo jet that brought it here from Washington. Remember those amazing pictures? It's going to stay at an airport hangar for a few more weeks before moving to museum (ph). A public exhibit is expected to open in July.


ROMANS (on-camera): All right. The one thing you need to know today about your money. Dow futures are down 100 points today, and the reason is Greece. Just because it's a relatively small economy doesn't mean it won't affect your investments. It will today. Europe and the Euro bear watching -- Zoraida.

SAMBOLIN: All right. Thank you very much.

It is 45 minutes past the hour. If you're traveling near the northeast this week, rain could be a factor. I feel like we say that every single day. Rain could be a factor. Alexandra Steele is in with today's weather. Good morning to you.

ALEXANDRA STEELE, AMS METEOROLOGIST: Good morning to you, guys. It's just a rain parade up and down the eastern seaboard. So maybe, add a little extra time, we will certainly see some travel difficulties. We'll talk a little bit more about the travel forecasts coming up. Here's just the beginning and here's the parade of the rain, Charlotte to Greensboro all the way up through the Virginias and then into the northeast.

You can see where all this rain is coming, and it's just going to train over another. So, we're going to watch this rain over and over, maybe one to two inches an hour for some areas, especially from the Catskills down to the Smoky Mountains, because of that orographic lifting kind of some extra punch with some of this rain. In terms of how much, this is what we've seen in the last 48 hours, but then as we move it forward, again Mid-Atlantic, you can see these yellows and the reds getting up to maybe three to five inches of rain for some of you. So, really, today and tomorrow, the balance of the heaviest rain on the eastern seaboard, then we watch it move out.

Big picture today, of course, there's the rain and the east coast. Severe storms, West Texas could see maybe one to two inches of rain an hour. So, some difficulty there, but Phoenix, the story is the heat. 106 yesterday. It should be 94 this time of year. So, 100-degree temperatures for the next few days. So, well above average.

West is hot and west is dry, and that rally will be the story. So, we're kind of looking at a very warm west, a wet east, and that will be the story for the next few days and kind of by Wednesday, Thursday, the pattern will change just a little bit. Back to you.

SAMBOLIN: All right. Thank you very much. Forty-seven minutes past the hour.

Plenty in Hollywood have been trying to picture it. Ashton Kutcher as Apple icon, Steve Jobs.

VELSHI: Doesn't look like it with that hair.

SAMBOLIN: No, but, when you put them side by side --


SAMBOLIN: They looked eerily similar.

VELSHI: Really?

SAMBOLIN: Yes. When he was all made up. See what he looks like in costume right after the break.

VELSHI: And if you're leaving the house right now, you can watch us anytime at your desktop or your mobile phone. Just go to Forty-seven minutes after the hour, we're coming right back.


SAMBOLIN: Hey, good morning to you. It is 50 minutes past the hour. There's the Statue of Liberty saluting you this morning, saying good morning. It's going to be a nice day here.

VELSHI: I had forgotten. I mean, I don't love waking up so early, but I forgot this, that you get to see the sunrise, you get to see beautiful pictures.

SAMBOLIN: I got to tell you something, Ali. Right now on the screen, a moment ago, it said 104, and I thought it's going to be 104 in New York? That was Phoenix. Phoenix.


VELSHI: In July we'll have 104.

Hey, again, another great weekend in many parts of the country, and people still went to the movies. "The Avengers" proving their powers, their super powers at the box office, topping a billion dollars on Sunday.


VELSHI: The superhero blockbuster was number one with moviegoers for the second straight weekend, and of course, Disney says there will be a sequel. If you make that much money at the movie, there should be a three-quel and a four-quel, too.

SAMBOLIN: It should be in the plans released next week.


SAMBOLIN: That would be great. All right. So, we have a first look at Ashton Kutcher as Steve Jobs. Kutcher is playing Jobs in an upcoming -- what do you think?

VELSHI: Can I see this?

SAMBOLIN: Can we leave them up side by side for a while there? There we go. What do you think?

VELSHI: Yes. I can see that. I can see that happening.

SAMBOLIN: Totally.

VELSHI: It wasn't obvious to me because of Ashton's hair, but now that I see that --


VELSHI: -- I like it. And the turtleneck does it, too.

SAMBOLIN: Looks really -- Ashton looks really good there. All right. TMZ posted these photos taken on the movie set in Los Angeles. The biopic is set to come out at the end of this year. It's tentatively titled "Jobs: Get Nspired."

VELSHI: All right. And one of the most bizarre world record attempts ever conceived. An Ohio man attempts to do the most fist pumps.


VELSHI: Yes, fist pumps. Thirty-four-year-old James Peterson (ph) walked around the University of Akron with his fist pumping in the air. Now, we believe he actually set the record, but the video has yet to be submitted to the "Guinness Book of World Records" for review. I wouldn't have thought that there was a previous record to beat. The craziest part of the whole story is that he apparently super glued his hand shut --

SAMBOLIN: No. No, no, no.

VELSHI: -- to keep it in the fist position.

SAMBOLIN: Is that true or did we make that up?

VELSHI: Our producer tells us it's true. That's definitely one of the stranger ones I've ever seen.


VELSHI: Can you set a record on anything that you feel like doing?

SAMBOLIN: Sure. Is there anything you want to do.

VELSHI: I'm going to think about it for the next hour or so.


SAMBOLIN: All right. On "SNL," Little Joey Biden (ph) stewing over the president's same-sex marriage announcement and the burning question about "Time" magazine's breastfeeding cover. Did you see it?

VELSHI: I did see it.

SAMBOLIN: Take a look.


UNIDENTIFIED MALE: "Time" magazine, this is the image you went with for Mother's Day? And really, what's with the camouflage pants? You do realize there's not enough camouflage in the world to hide from the blow back this kid is going to experience.


UNIDENTIFIED MALE: And "Time," don't get me wrong, I understand you have to do what it takes to sell magazines, and it's a good cover, but if you wanted a great cover, you would have photo shopped out the chair.


UNIDENTIFIED MALE: I mean, really.

UNIDENTIFIED MALE: Joe, you've been locked inside your room all day. What's wrong?

UNIDENTIFIED MALE: What's wrong? Are you serious? Do you really not get it?

UNIDENTIFIED MALE: Does this have something to do with the whole gay marriage thing?

UNIDENTIFIED MALE: Ah, doy! It's not fair, OK? I was the first one who said it should be legal, but now you're the one getting all the credit.

UNIDENTIFIED MALE: That's not true.

UNIDENTIFIED MALE: Oh, yes? Oh, really? Then why are you all dressed up?

UNIDENTIFIED MALE: I'm going to a gala with Lady Gaga and Elton John.




SAMBOLIN: OK. That was the funniest part.

VELSHI: And of course, you know, more and more is coming out about what happened, whether Biden meant to do it, whether the president was mad at him for doing it, whether he apologized. It does seem that he went in and there seem to be a lot of reports that he said to the president. Sorry for maybe forcing your hand on this.

SAMBOLIN: You got to wonder about this because it has so many layers --

VELSHI: It could be entirely political, could be entirely sincere, could be somewhere in the middle.

Well, from Wall Street all the way to London, coming up, the far- reaching fallout from JPMorgan Chase's $2 billion blunder starts right at the top. You're watching EARLY START.