(cheers and applause) captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening, the lessons of the great recession didn't last long. tonight the nation's largest bank and one of the nation's biggest energy companies are both reeling. reckless investments in one case questionable management in the other. j.p. morgan chase said yesterday that it lost at least $2 billion in investments it called "egregious." today j.p. morgan lost $14 billion in stock value. chesapeake energy lost $1 billion of its stock value today in 46 minutes as questions mount about its business practices. we have two reports. first anthony mason on j.p. morgan chase. >> reporter: the losses for j.p. morgan chase continued today, this time to its stock price which tumbled more than 9%. as the bank reeld from its $2 billion trading blunder and bank analysts took aim at c.e.o. jamie dimon. >> he should have done his home work better. >> reporter: mike mayo, who closely watches the company for the investment firm c.l.s.a. says in april dimon dismissed concerns the bank was m

captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> o'donnell: good evening. scott's on assignment. i'm nora o'donnell. the biggest game in town was

captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good eveningight with breaking news that will rattle the struggling financial markets. jpmorgan chase, america's biggest bank, just admitted it has suffered massive trading

for all of us at cbs news all around the world, i'm scott pelley. see you sunday on "60 minutes."g sponsored by cbs captioned by media access group at wgbh access.wgbh.org agents, be on the lookout for aliens. one small black cocoa creme iced coffee. uh-oh! let me out of here! try dunkin's new black cocoa creme iced coffee and call star-star-d-d for a text to capture your alien today. the galaxy runs on dunkin'. you ready buddy? you're probably not getting called up to the majors. but your fence? that's pro. finish like a pro with cabot wood stains. cabot...that's pro. >>> now, "entertainment tonight." the most-watched entertainment news magazine in the world. >> john travolta and a third male accuser. the claim that john offered him money for sex. now, how is his wife kelly coping? and her new interview about the death of their son. >> the biggest heart. >> then rihanna at her big "battleship" premiere. >> we saw a twitter picture with an i.v. in your arm. are you okay? >> exclusive foot froes of clooney's party for president obama. >> it's my wedding. >> shannen doherts

and scott pelley.vite you to come back here for wjz's eyewitness news at 11:00. >> pelley: tonight, a drug designed to prevent alzheimer's. the government announces a $100 million experiment to see if it works. wyatt andrews is covering. america's most sophisticated warplane is restricted after a pilot says this on "60 minutes." >> i am not comfortable flying in the f-22 right now. >> pelley: david martin has the story. your credit card number can be stolen at the gas pump. fill your tank, empty your bank account. sharyl attkisson investigates. and dean reynolds find a bank that's in it for the people. short on risk, long on heart. >> there were no closing costs? >> none. >> reporter: down payment? >> no. captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening, alzehimer's disease cannot be cured butting k it be prevented. today the government announced a major study to test a

captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. more investors decided today that it's time to get out of the stock market while the getting is good-- or before it gets any worse. here's how bad it got today. the dow fell more than 160 points closing at 12,419. it is still clinging to a small gain for the year of 1.66%. that matters a lot to the more than 50% of americans who are invested in the market and have now seen it fall 16 of the past 20 sessions. so we asked anthony mason why the market is rattled and to tell us about what it means for the economy going forward. >> reporter: may has been a month of misery for the markets. the dow has been up only five of 21 trading sessions this month. the u.s. economy continues to grow slowly. >> we're facing a very challenging global environment with europe deepening its recession, with china slowing. >> reporter: bruce kasman is chief economist with j.p. morgan chase. >> the global backdrop is really our big concern right now. >> reporter: because europe is our biggest trading partner

captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. facebook is all about sharing information, but it turns out that banks did not share all that they knew about the company before investors spent billions of dollars on its stock. stock that has been falling in value since the day it went on sale. facebook shares lost nearly $3 today to close just over $31. the stock was supposed to be priced so that it would go up, but it hit the market at $38 and now it is down 18%. the company's value has plummeted from $104 billion to less than $67 billion, a loss to investors of more than $37 billion so far. so what went wrong? here's anthony mason. >> mason: two weeks ago while facebook founder mark zuckerberg was out touting his new stock and banks backing the deal were raising the offering price, some of those same banks were quietly cutting revenue forecasts for the company. at morgan stanley, the lead firm on the offering an analyst reportedly scott dewitt sent out a cautionary note that facebook's outlook was weakening but only to a select

we take you now to new york and the cbs evening news with scott pelley. be back here at >> pelley: tonight, how the etan patz case was cracked. as the child's admitted killer is charged with murder, john miller has learned the identity of the man who turned him in. the facebook fiasco. anthony mason on how a nasdaq screwup cost investors a fortune. >> we got punched in the nose pretty good. >> pelley: man versus mountain. brian rooney on one man's sacrificing his attempt to climb mount everest to rescue another. and steve hartman "on the road" with tourists chasing tornados. >> okay! whoo! captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. the man who confessed to killing six-year-old etan patz more than three decades ago was charged today with second degree murder. pedro hernandez could get 25 years to life if convicted. he was picked up yesterday at his home in new jersey by new york city police acting on

captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good eveningarer picture tonight of how a leading chinese dissident wound if you want u.s. embassy in beijing, setting off a diplomat crisis, and it is

much more ahead on the cbs evening news with scott pelley, including the secr >> pelley: tonight, the the stand. the highest ranking catholic church official ever charged in the child abuse scandal blames a higher power, the former cardinal of philadelphia. the head of the secret service speaks out for the first time about the prostitution scandal. >> she's individuals did some really dumb things. >> pelley: but was it an aberration or a pattern? nancy cordes on a contentious senate hearing. he helped the u.s. track down osama bin laden but now he's being sent to prison as a traitor. bob orr has his story. and death at the top of the world. brian rooney on this week's traffic jam on mount everest. >> some people have a mindset of oh, i'm going to go conquer everest. captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. in a philadelphia courtroom today, the first catholic clergyman to face criminal charges for covering up child sex

captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good eveninge beginning tonight with two important stories involving the brain. first, a study out today that may affect hundreds of

this is the "cbs evening news" with scott pelley. >> pelley: good evening, heads are rolling in a wallet debacle of the kind that few expected to see again so soon. stock in the nation's largest bank-- j.p. morgan chase-- continued to fall today. it has lost $19 billion in value

captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good eveningfacebook is all about sharing information, but it turns out that banks did not share all that they knew about the company before investors spent billions of dollars on its stock. stock that has been falling in value since the day it went on sale. facebook shares lost

captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. the man who confessed to killing six-year-old etan patz more than three decades ago was charged today with second degree murder. pedro hernandez could get 25 years to life if convicted. he was picked up yesterday at his home in new jersey by new york city police acting on a tip and today we learned that that tip was called in by his own family. all of this is happening on a sad anniversary for the patz family. john miller has been covering this story from the very beginning back in 1979. >> reporter: stan and julie patz returned home this morning, 33 years to the day after their son disappeared. friends tell us news of the arrest was still sinking in. the 51-year-old suspect, pedro hernandez, is in a hospital bed under police guard. police say he had threatened suicide and was awaiting a psychiatric evaluation. two days ago in the three and a half hour videotaped statement police say hernandez had described committing the murder when he was an 18-year-old stock boy at a grocery store

( laughter ) captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley:ng. with a former vice presidential mom nikkei couple of millionaires, a thief and a mistress, the john edwards trial had all the elements of a novel bit, apparently, not the elements of a conviction

musk recently sat down with scott pelley. >> i think with the dawn of a new era, i think it's going toxciting. what we're hoping to do is push the envelope and provide a reason for people to be excited and inspired to be human. >> reporter: elon musk is 40 and worth about $2 billion. as a teenager, he wrote computer games in his native south africa before heading to the u.s. and starting paypal. >> ladies and gentlemen, mr. elon musk! >> reporter: he built an electric car company called tesla but his passion is space. now, tell me, what's that big piece right up there? >> that's the second stage of the falcon 9 rocket. >> reporter: musk's california factory is filled with young engineers and nasa veterans. he plans to cut the cost of space flight by 90%. >> the odds of me coming into the rocket business, not knowing anything about rockets, not built anything, i would have to be insane if i said the odds are in my favor. >> reporter: why even begin? >> when something is important enough, you do it even though odds aren't in your favor. >> reporter: we came across a dragon capsule, like

this is the "cbs evening news" with scott pelley. >> mason: good evening, scott is off, i'm anthony mason. many today are enjoying a day of leisure, but we've never forgotten the men and women who paid for the freedom we enjoy the day. ceremonies honoring america's war dead were held across the country, including two led by the commander-in-chief. president obama began the day on hallowed ground: arlington national cemetery in virginia where he laid a wreath at the tomb of the unknowns. during the ceremony, the president noted for the first time in nine years no americans are fighting in iraq and that the end of fighting was also near in afghanistan. >> after a decade under a dark cloud of war we can see the light of a new day on the horizon. >> mason: >> the president and first lady made a rare visit to the vietnam memorial and honored another generation who fought in a deeply unpopular war. >> even though some americans turned their back on you, you never turned your back on america. >> mason: more than 58,000 names are etched into into the memorial and today the president pledged to re

captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening-breaking news on an al qaeda plot to blow up a u.s.-bound jetliner. sources tell cbs news that a would be suicide bomber was intercepted by the c.i.a. recently. the bomb is now in the hands of the f.b.i. for analysis. it is said to b

thank you. >> scott pelley. gayle? >> you're welcome any time, scott pelley. >>> the occupy wall street movement took to the streets on may day. that's the international workers' day. yesterday police in oakland, california, used tear gas to disperse marchers. in seattle a group of hooded demonstrators smashed windows and set small fires. and thousands marched here in new york demanding an end to income and housing inequality. >> it's getting very hot in the courtroom at trial of former senator john edwards and has nothing to do with the north carolina weather. >> this week's main witness faces another round of tough questions. today from edwards lawyers. anna werner at the courthouse in greensboro with the latest on that. good morning. >> reporter: good morning, gayle and charlie. yes, sherri young, the wife of edwards former campaign aide, andrew young, takes the stand again today. yesterday she faced grilling from edwards' defense attorneys, who suggested she and her husband were interested not just in helping edwar

captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. we're beginning tonight with breaking news that will rattle the struggling financial markets. j.p. morgan chase, america's biggest bank, just admitted it has suffered massive trading losses that cost the company $2 billion. the head of the bank says it is the result of "sloppiness and bad judgment." senior business correspondent anthony mason has been talking to his sources and, anthony, what are you hearing? >> reporter: scott, the c.e.o. of j.p. morgan chase, jamie dimon, held a surprise conference call this afternoon to announce the bank had lost about $2 billion in just the past six weeks because of bad bets in credit derivatives, the same financial instruments that played a key role in the financial crisis. "this one we would put in the egregious category," dimon conceded on that call. the bank, the nation's biggest by asset, could face another billion dollars in losses due to market volatility. dimon acknowledged it could get worse. this could go on for a little bit. it's a big

captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. what looked like a deft dry yum of american diplomacy has in to an international incident with no end in sight. at the center of it is chen guangcheng, the blind chinese dissident who escaped from house arrest in beijing last week and sought sanctuary in the u.s. embassy. this morning he walked out of the embassy hand in hand with american diplomats. the chinese guaranteed chen's safety and freedom, but now that he is back in chinese hands, there are reasons for doubt. holly williams has late details from beijing but, first, david martin on how this strange day began. >> reporter: scott, what was supposed to have been two days of high-level talks between secretary of state clinton, treasury secretary geithner and chinese leaders has turned into a diplomatic fiasco over the fate of one man. at first it was all smiles and hugs. chen guangcheng couldn't thank american diplomats enough. he even phoned secretary clinton to personally thank her. for their part, the americans seemed delight

captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. we have late-breaking news in the trayvon martin case. for the first time, the court has released the evidence gathered by prosecutors. it includes information about injuries to the man charged with murdering martin, george zimmerman, and about marijuana use by martin. zimmerman shot the unarmed teenager one night in february. this is a picture of-- that was released this evening of martin- - that's him on the left-- at a 7-eleven as he was buying candy and an iced tea before he left to go to the neighborhood where zimmerman would ultimately shoot him. martin was a guest in the home there. the question is, what happened in the moments before zimmerman fired the fatal shot? the case set off a national debate over racial profiling and the right of self-defense. mark strassmann has the late- breaking details on the evidence tonight. mark? >> reporter: scott, this evidence covers 183 pages. and it includes dozens of audio recordings, mostly interviews, surveillance videos and reports of

captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good eveningte-breaking developments this evening in that alleged bomb plot in which al qaeda allegedly tried to put a bomb on an airplane bound for the united states. the "new york times", the s

captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. in a philadelphia courtroom today, the first catholic clergyman to face criminal charges for covering up child sex abuse said he was following the orders of a cardinal. monsignor william lynn described a code of silence as priests suspected of child molestation were transferred from parish to parish in the hope that no one would notice. elaine quijano was in the courtroom. >> reporter: monsignor william lynn testified he had no choice but to follow the directives of his superior, the late cardinal anthony bevilacqua, including withholding information from parishioners about why predator priests were moved out of theirs churches. >> reporter: cardinals are the highest ranking clergy in the catholic church. they answer only to the pope. lynch was in charge of recommending priest assignments and investigating child sex abuse allegations against clergy for 12 years. today, lynn testified he did not have the power to transfer priests from church to church, telling a philadelphia jury he o

(cheers and applause) captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >ning, the lessons of the great recession didn't last long. tonight the nation's largest bank and one of the nation's biggest energy companies are both reeling. reckless investments in one case questionable management in the other. j.p. morgan chase

captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good eveningtors decided today that it's time to get out of the stock market while the getting is good-- or before it gets any worse. here's how bad it got today. the dow fell more than

captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening, heads are rolling in a wall street debacle of the kind that few expected to see again so soon. stock in the nation's largest bank-- j.p. morgan chase-- continued to fall today. it has lost $19 billion in value since friday, more than 12% of its total worth. late last week, the bank shocked investors with a $2 billion loss in its trading department. j.p. morgan chase had made enormous bets on what are known as derivatives, an exotic wall street investment that was at the heart of the financial collapse in 2008. by this morning, a top executive was out and anthony mason picks up the story from there. >> reporter: the first casualty of the bank's $2 billion blunder was its chief investment officer, ina drew, a 30-year veteran of j.p. morgan chase and one of the highest ranking women on wall street resigned this morning. drew oversaw the division responsible for the $2 billion loss. the bank stock tumbled another 3% today and c.e.o. jamie dimon has been rushing to do damage control. >> i

captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening diplomacy has in to

captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good eveningws in the trayvon martin case. for the first time, the court has released the evidence gathered by prosecutors. it includes information about injuries to the man charged with murdering martin, george zimmerman, and about marijuana

captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. entire families were shot in their houses. that is how a united nations official describes the massacre of more than 100 people, mostly children, in syria over the weekend. today the united states and nine other nations expelled syrian diplomats from their capitals. the u.n.'s lead negotiator met with the syrian dictator today and warnedded that syria has reached a tipping point. the family of bashir al assad has ruled syria for 42 years. last year a mass uprising started against him. assad has used his army to shell entire neighborhoods, and that's how saturday's atrocities started. it's what happened next that makes it the worst war crime yet in the 15-month-old civil war. (gunfire ). that's the artillery barrage in a civilian neighborhood outside the city of houla close to the center of the anti-assad uprising. u.n. observers in syria report that about 20 people were killed by assad's artillery, but the massacre came later, at much closer range. we have nothing to show you but the

captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening, alzehimer's disease cannot be cured butting k it be prevented. today the government announced a major study to test a prevention drug in just one family. prevention is almost impossible to measure because scientists can never know which healthy people will develop the disease. but now they have found one family in which nearly everyone develops alzehimer's diseases. more than five million americans have alzheimer's or another form of dementia. that's expected to triple over the next 40 years as the population ages. the annual cost of care now $200 billion could hit a trillion dollars. the obama administration explained a strategy today to find a treatment by 2025. wyatt andrews has our story on the new clinical trial designed to find out whether alzheimer's can be stopped before it starts. >> reporter: researchers will focus this clinical trial on patients near medellin, colombia. here, hundreds of people in one extended family were born with a genetic flaw that makes it certain they

captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good eveningbama's stand on same-sex marriage completed its evolution today, changing from opposition to support. in 2004, running for the u.s. senate, he said marriage should be between a man and

captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good eveningce in new york city say they are holding a man who has confessed to the murder of etan patz. the six-year-old boy who vanished without a trace 33

captioning sponsored by cbs captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. the word economists were using to describe today's jobs numbers is "disappointing. we suspect other words might be use pie the 12.5 million americans who are still unemployed, many of them for months, if not years. the labor department tells us job creation was down. just 115,000 new jobs in april. so after rising for three straight months, the job growth numbers have now fallen for three straight. the unemployment rate dropped from 8.2 to 8.1%, but it turns out that's bad news, which we will explain in just a moment. so, is the economy improving or not? anthony mason found out today it's a little bit of both. >> reporter: manufacturing's been one of the most consistent bright spots in the recovery, and at crestron, the new jersey- based maker of technology management systems-- you're still hiring. >> absolutely. >> reporter: george feldstein's company will add 350 jobs this year, increasing his workforce by more than 10%. >> everyone seems to want to jump on

captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. police in new york city say they are holding a man who has confessed to the murder of etan patz. the six-year-old boy who vanished without a trace 33 years ago tomorrow. the enduring mystery of etan's disappearance, the anxiety felt by parents across the country, combined to revolutionize the nation's approach to missing children. after all this time, it was a telephone tip that led the police to 51-year-old pedro hernandez. now detectives have to figure out whether his confession is true. we have two reports. first, senior correspondent john miller, who has covered the patz story since the day the boy vanished. he's been talking to his sources. and he joins us now. john. >> reporter: well, scott, as you said, it is an enduring mystery but it's complicated. so far, all the police have to go on is the suspect's word that he did it. in 1979, pedro hernandez, then 18 years old, worked at his familyee small grocery in the soho neighborhood just a block from where six-year-old etan patz d

captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. we have a much clearer picture tonight of how a leading chinese dissident wound up in the u.s. embassy in beijing, setting off a diplomat crisis, and it is straight out of hollywood, with the blind dissident escaping house arrest, american diplomats rescuing him and then racing him to the embassy with chinese secret police in pursuit. the story is coming out at the same moment the u.s. secretaries of state and the treasury are in beijing to negotiate trade and policy agreements. yesterday, the u.s. returned chen guangcheng to the chinese after they promised he would be safe, and he said he wanted to stay in china. but today, chen asked secretary clinton to take him out on her plane, and, later, in a phone call, chen was patched through to a congressional hearing in washington. chen told the committee he wants to come to the u.s. to rest. they'll make a movie out of this one day, but in the meantime, we have reports from beijing and washington. first, david martin. >> reporter: the al

captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. we're beginning tonight with two important stories involving the brain. first, a study out today that may affect hundreds of thousands of american troops. in recent years, more than 200,000 of them have been diagnosed with traumatic brain injuries, including concussions. the question for researchers is whether these troops suffer the same long-term effects that are turning up among some football players. dr. jon lapook reports we may now have an answer. >> reporter: nick colgin came back from afghanistan in 2008 with a bronze star for heroism and a problem that is destroying his life. >> a rocket propelled grenade hit off the right side of my humvee and i didn't realize it at the time but i had suffered a traumatic brain injury. i got home and i couldn't spell my name. >> reporter: four years after the explosion, his traumatic brain injury, or t.b.i., is all consuming. >> my headaches have been so bad i have to sleep in a closet to get it dark enough so my head doesn't hurt. my depre

( laughter ) captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. with a former vice presidential mom nikkei couple of millionaires, a thief and a mistress, the john edwards trial had all the elements of a novel bit, apparently, not the elements of a conviction according to the jury late today. edwards was acquit of one count of campaign finance fraud in connection with his run for the 2008 democratic presidential nomination. the jury reported that it was hopelessly deadlocked on five other counts, so the judge declared a mistrial on those ending the case. anna werner has been covering the 17 days of testimony and nine days of deliberations, and she joins us now from the courthouse in greensboro, north carolina. anna. >> reporter: scott, as the foreperson told the judge, that the jury had failed to reach a verdict on five of six counts, edwards smiled. then we watched as he hugged his daughter, cate, and his parents, all clearly relieved. then he stepped outside to face everyone else. >> while i do not believe i did anything illegal or

captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. there are late-breaking developments this evening in that alleged bomb plot in which al qaeda allegedly tried to put a bomb on an airplane bound for the united states. the "new york times", the los angeles times, and the associated press are all reporting that the would-be bomber, the man who was to carry the bomb on to the aircraft was actually an undercover intelligence agent that was working with the c.i.a. all along. we have a number of developing items on this story tonight. we're going to go now to john miller, our national security correspondent and former assistant director of the f.b.i. john, what are you hearing? >> well, this goes right to the heart of an intelligence agency's nightmare which is identifying a source that they've placed inside an organization. i just got off the phone with intelligence agencies and senior officials. they say they're not going anywhere near commenting on this obviously because. >> pelley: understood. the associated press at least is reportin