The Note’s Must-Reads for Thursday May 17, 2012

May 17, 2012 3:27am

The Note’s Must-Reads are a round-up of today’s political headlines and stories from ABC News and the top U.S. newspapers. Posted Monday through Friday right here at www.abcnews.com

Compiled by ABC News’ Carrie Halperin, Amanda Van Allen and Ben Waldron

CAMPAIGN 2012:

ABC News’ Michael Falcone and Amy Walter: “The Bind That Ties Obama And Romney Together” Both President Obama and Mitt Romney have a common foe: neither receives majority support for some of their own signature policy proposals, new ABC News-Washington Post polling shows. That likely means one thing: more negative ads attacking the other guy rather than promoting their own agendas.  LINK

The Wall Street Journal’s Laura Meckler and Colleen McCain Nelson: “Outside Money Reshapes Ad Wars Crossroads GPS, an independent group aiding Republicans, will begin spending $25 million this month on television ads attacking President Barack Obama’s record, matching Mr. Obama’s own recent ad buy and providing fresh evidence that super PACs have changed the contours of presidential campaigns. In the past, the party out of power often hit a fallow period after the primaries in which the eventual nominee regrouped and raised money. The incumbent president, by contrast, tended to have the money needed to get a jump on shaping voter opinions of his opponent.” LINK

The NY Times’ Jeremy W. Peters: “Blitz of Campaign Ads Is Early and Aggressive.”The presidential campaign is erupting into a full-scale advertising war, with both candidates and their allies pouring huge sums into early and aggressive efforts to define the fight on their terms. At least $50 million worth of ads will appear in swing states in the next several weeks as President Obama and Mitt Romney move swiftly to win over voters now, casting aside concerns that their money will be wasted on people who are not paying much attention five and a half months before Election Day. LINK

Politico’s John Bresnahan, Manu Raju and Jake Sherman: “Democrats rush into arms of Super PACs” Congressional Democrats who publicly proclaimed that super PACs are the scourge of modern politics are now going all out to chase the big money that’s fueling the 2012 campaign. With little fanfare, Senate Majority Leader Harry Reid (D-Nev.) and his top lieutenants are crisscrossing the country from the Southwest to the Big Apple, meeting with billionaires, high-level business executives and union leaders in a mad scramble to raise money for Majority PAC — and perhaps save their slim Senate majority. LINK

MITT ROMNEY

USA Today’s Catalina Camia: “Mitt Romney pushes back on Bain Capital attacks’” Mitt Romney says President Obama and his allies are “off target” with their attacks on his record at Bain Capital. In a radio interview with talk-show host and blogger Ed Morrissey, Romney for the first time addressed the spate of attacks coming from Democrats this week about his tenure at the venture capital firm.LINK

The NY Daily News’ Christina Boyle: “Mitt Romney says JPMorgan Chase mess is ‘a large loss,’ but does not show need for ‘new regulation’” Presidential Hopeful Mitt Romney said JPMorgan Chase’s enormous trading loss — now reportedly soaring to at least $3 billion — is capitalism at work. “I would not rush to pass new legislation or new regulation,” Romney said Wednesday during his first public comments on the bank’s blunders. LINK

The Hill’s Josh Lederman: “Romney’s next big battle is fight against summer slump” Mitt Romney’s challenge heading into the long summertime slog before the convention? How to engage the majority of voters who aren’t tuned in to the campaign yet. For nominees who play it smart, there’s a long list of boxes to check off to ensure all the pieces are in place for the fall: raising money, picking a vice presidential candidate, prepping for the convention and building a nimble ground game in battleground states. LINK

Bloomberg’s Lisa Lerer: “Romney Calls for Caution on Regulations After JPMorgan Loss”  Mitt Romney, saying business losses are part of “the way America works,” urged caution in adopting new regulations in response to the $2 billion trading loss by JPMorgan Chase & Co. (JPM) In his first direct comments on the bank’s missteps, Romney said, “I would not rush to pass new legislation or new regulation.” LINK

PRESIDENT OBAMA

The Washington Times’ Dave Boyer “Obama sidelined as player in summits” As President Obama prepares to play host to a doubleheader of global diplomacy at the Group of Eight and NATO summits this weekend, there are increasing signs that the world is tuning out his message.  LINK

The Washington Post’s David Nakamura: “Obama warns Republicans against debt-ceiling fight” President Obama warned congressional leaders on Wednesday that he would not tolerate a replay of the bitter debt-ceiling fight of last summer that nearly put the United States in default and led to the nation’s first credit-rating downgrade. During lunch at the White House with top leaders of the House and Senate, Obama called the political deadlock last year “not acceptable” and emphasized that he expects a “serious bipartisan approach” to tackling the budget and the federal deficit this year, White House press secretary Jay Carney said. LINK

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