JPMorgan also took a hit because of choppy financial markets.
Tebow may give prayer at Capitol
DENVER (AP) — Can Tim Tebow’s blessing inspire Colorado lawmakers? One state representative thinks so.
Democratic Rep. Sal Pace sent a letter Friday to the Broncos quarterback inviting him to lead the House in the daily morning prayer before lawmakers start work. Pace said in the letter that Tebow is an excellent choice to “give Colorado’s elected officials guidance as we take on the important task of leading Colorado.”
“You have inspired Colorado. You have inspired America!” Pace wrote. “Throughout your career you have consistently proven the naysayers wrong.”
The morning prayer at the Capitol’s House and Senate is led every day by different people of all faiths.
Colorado lawmakers have been going gaga over the Broncos this week leading up to the team’s divisional playoff showdown with the New England Patriots on Saturday.
Judge: Edwards has heart problem
GREENSBORO, N.C. (AP) — Ex-presidential candidate John Edwards has a serious heart condition that will require a medical procedure next month and his illness limits his travel including for an upcoming court case over possible campaign violations, his doctor told a judge, who delayed the trial.
Federal Judge Catherine Eagles did not disclose the exact nature of Edwards’ illness Friday or what procedure he needed. However, she said the two-time presidential candidate had “three episodes” and indicated his condition could be life-threatening if left untreated.
A cardiologist for the 58-year-old ex-North Carolina senator wrote two letters about his condition to Eagles, who talked about them during a hearing to consider whether the trial on six felony and misdemeanor counts should begin this month. Eagles said jury selection will now start March 26, at the earliest.
Mom sentenced for killing son, 6
BRENTWOOD, N.H. (AP) — A Texas woman was sentenced Friday to 45 years in prison for suffocating her 6-year-old son in a New Hampshire motel room and leaving his body along a dirt road in Maine.
The discovery of Camden Hughes’ body last May set off a nationwide effort to identify him. Meanwhile, his mother, Julianne McCrery, called his kindergarten daily to report him absent with appendicitis.
McCrery, 42, of Irving, Texas, later told prosecutors she had planned to kill herself and that she killed Camden because no one else was fit to raise him. But prosecutors say they have evidence McCrery felt the boy was an inconvenience and that she planned to go about her own life after killing him.
Housing bust still haunts the banks
NEW YORK (AP) — The economy may be healing, but banks are suffering from a housing hangover.
JPMorgan Chase spent $3.2 billion last year to fight lawsuits, almost all of them over poorly written mortgages. That was down from $5.7 billion in 2010, but it made clear that housing still haunts the bank, five years after the bubble burst.
The bank said Friday that it set aside $528 million in the last three months of 2011 to fight lawsuits. It also spent $925 million in the fourth quarter to carry out foreclosures and handle mortgage defaults.
“There’s still a huge drag,” CEO Jamie Dimon said. “I mean, you’re talking about several billion dollars a year in mortgage alone.
The expenses took a bite out of JPMorgan’s quarterly profit, which fell 23 percent from a year earlier, to $3.7 billion, and missed expectations.
For the full year, JPMorgan, the nation’s largest bank, posted a record profit of $19 billion.
JPMorgan also took a hit because of choppy financial markets.