05/19/2012 11:54 pm ET Updated Jul 19, 2012

Sunday Roundup

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!

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