Mark Halperin’s three things to watch for in politics for Friday, May 8.
1. Watch the continued fallout from the bank stress test results released yesterday. The results call for 10 of the 19 biggest U.S. banks to raise a combined $75 billion to stay afloat. Discussion since the official release has focused on the fact that the banks are not doing as badly as many experts anticipated. Watch to see if the dialogue shifts and becomes less positive as the results are digested and the banks begin to figure out how to raise substantial amounts of capital in the next few months.
2. Watch how the administration handles the April unemployment data out today. Employers cut 539,000 jobs last month — the smallest total in the last six months — but with those cuts the unemployment rate rose to 8.9%, the highest level in more than 25 years. Clearly the White House wants to stay out in front of what’s happening on the jobs front, with President Obama speaking on job creation and training at 11:30 am ET. Watch to see what he and the rest of the administration say about unemployment today and this weekend.
3. Watch the hoopla leading up to the White House Correspondents Dinner tomorrow night. The people who cover the White House and who work in the White House may be caught up in their weekend plans and distracted today. Watch to see to what degree the media’s enthusiasm blots out coverage of wars, recessions and other big things happening in the world for the next few days.