This week, Facebook went public with the third largest IPO in history. On the downside of the ledger, Moody's downgraded more than three-dozen Spanish and Italian banks, and JPMorgan's trading losses zoomed past the original $2 billion estimate. On the political front, a pro-Romney super-PAC's plan to disentomb the Reverend Wright scandal made headlines. Some might question the wisdom of those backing a candidate who is an elder in a church known for magic underwear, baptizing dead people and a belief that Jesus visited America making religion a campaign issue -- but in a world where single-mom Bristol Palin shamelessly moralizes about the value of kids "growing up in a mother/father home," all bets are off. The controversy prompted Romney to deliver the quote of the week, saying of his stance on Reverend Wright: "I'm not familiar with precisely what I said, but I stand by what I said, whatever it was." Mitt, check your Facebook timeline!
This week, risky trades by JP Morgan caused $2 billion in losses and showed why muscular banking regulation is still so badly needed; Rick Santorum endorsed Romney in an email sent out around midnight with no advance notice to reporters -- just one step short of sending his endorsement directly to spam folders; and, of course, the week's top story was obviously President Obama's "I do" on gay marriage -- a groundbreaking move that aligned him with Dr. King's evocative suggestion that we be the headlights of history, not the taillights. Thank you for your bold leadership, Mr. President. Now, if you can get to know as many unemployed people as you do gay people, perhaps you'll provide equally bold leadership on jobs. Finally, here's wishing moms everywhere a very happy Mother's Day!