Bain Face-off - Romney Demands Apology; Obama Wants Explanation

Romney talks to ABC's Jonathan Karl - Obama talks to WJLA's Scott Thurman - http://abcn.ws/NJHqWC

Romney to Obama: Apologize! - For staffers suggesting he misled the SEC (and thus maybe broke the law)

To ABC's Jonathan Karl - "The president needs to take control of these people," Romney said. "He ought to disavow it and reign in these people who are running out of control. He sure as heck ought to say that he's sorry for the kinds of attacks that are coming from his team."

Romney insisted that he abandoned the private-equity firm he founded to run the Olympics, and that after 1999, he had "no role whatsoever in the management" of Bain.

"I left any responsibility whatsoever, any effort, any involvement whatsoever in the management of Bain Capital after February of 1999," Romney said. http://abcn.ws/NJHqWC

Obama Wants Romney to Explain Bain SEC Documents - http://abcn.ws/Mng2Am

WJLA's SCOTT THUMAN: Is he being dishonest with the American public?

OBAMA: Well, here's what I know, we were just talking about responsibility and as president of the United States, it's pretty clear to me that I'm responsible for folks who are working in the federal government and you know, Harry Truman said the buck stops with you. Now, my understanding is the Mr. Romney attested to the SEC, multiple times, that he was the chairman, CEO and president of Bain Capital and I think most Americans figure if you are the chairman, CEO and president of a company that you are responsible for what that company does. Ultimately Mr. Romney, I think, is going to have to answer those questions, uh because if he aspires to being president one of the things you learn is, you are ultimately responsible for the conduct of your operations, but again that's probably a question that he's going to have to answer and I think that's a legitimate part of the campaign.

SCOTT THUMAN: And you think he should answer that soon?

PRESIDENT BARACK OBAMA: Yeah, absolutely.

Virginia Gov. Bob McDonnell Calls Romney's Bain Record 'Fair Game' - WILLIAMSBURG, Va. - After a blistering assault from Democrats on Mitt Romney's record at Bain Capital over the last 24-hours, Virginia Gov. Bob McDonnell acknowledged that the presumptive Republican nominee's time at the private equity firm was "clearly fair game." http://abcn.ws/M7t4Qz (Michael Falcone)

The New Batman Movie Has a Villain Named Bane - Which is going to cause some confusion out there in America - http://abcn.ws/LfsjR3

Upending Welfare Reform? Obama Criticized for Giving States More Flexibility - After the Obama administration announced this week that it is opening up waivers to states from the work requirements contained in welfare reform, Republicans began to speak out against the move, complaining it completely undercuts the law. http://abcn.ws/P53Va0 (John Parkinson)

Bill Clinton in 2006 Pointing to Welfare Reform as a Bipartisan Model - http://nyti.ms/Ols7jB

Obama Says Romney, GOP 'Not Serious' About Deficit Reduction - VIRGINIA BEACH, Va. - Courting voters in the battleground state of Virginia today, President Obama slammed Mitt Romney and Republicans for wanting to extend tax cuts for the wealthy, saying they are "not serious" about deficit reduction. http://abcn.ws/M7CpYu (Mary Bruce)

Two New TV Shows to Get Your (Fake) Politics Fix - As the presidential race heads into the final four months, two new political shows hitting television and the Internet are sure to whet the appetite of political junkies and the disenchanted alike. http://abcn.ws/MpZUdB (Josh Haskell)

iPod and Xbox Designers Honored at White House - WASHINGTON, D.C. - First Lady Michelle Obama paid tribute to some of the nation's top innovators at the White House today; winners of the Smithsonian Institution's Cooper-Hewitt National Design Awards. The annual honors are bestowed by the Smithsonian to creative thinkers in disciplines the organization believes are critical in shaping humanistic achievements. http://abcn.ws/PVWyUJ (Matthew Larotonda)

Condi as Veep? 6 Political Clicks - http://abcn.ws/OkxDTC

Condoleezza Rice Still Not Interested in VP Slot - Despite the Drudge Report's article Thursday night reporting that Condoleezza Rice is the new frontrunner to be Mitt Romney's running mate, a spokesperson for the former secretary of state tells ABC News she is still not interested in the job. http://abcn.ws/Nhh6oq (Dana Hughes & Jonathan Karl)

Obama Stops to Talk to Military Wives in Virginia - VIRGINIA BEACH, Va. - President Obama kicked off his day of campaigning in the battleground state of Virginia with a surprise stop at Rick's Café, where he chatted with military wives about his efforts to better support America's troops. http://abcn.ws/NmODdd (Mary Bruce)

Mitt Romney Headed to the Holy Land on Jewish Day of Mourning - Mitt Romney will briefly trade the campaign trail for the Holy Land, part of a larger overseas trip that will take the candidate to the Olympics in London for two days before he spends a day and a half in Israel. http://abcn.ws/MpISMG (Shushannah Walshe)

White House Doesn't Condemn 'Made in China' US Olympic Uniforms - The White House does not believe the U.S. Olympic Team's "Made-in-China" uniforms need to be replaced with American-made apparel ahead of the London Games later this month. http://abcn.ws/MqofOK (Devin Dwyer)

Candidate for Anchorage Rep. Disqualified for Homelessness - Barbara Bachmeier is facing a problem that it's unlikely many political candidates have had to face. How does she prove that, while she had no fixed address (she was homeless), she was living in the district she's seeking to serve in the State House? http://abcn.ws/MmeUge (Meghan Kiesel)

Boehner Doll Cries Real Tears on 'Kimmel' - The man with the most famous tear ducts in Washington, House Speaker John Boehner, got the '80s toy commercial treatment last night on "Jimmy Kimmel Live." http://abcn.ws/LOMfAv (Amber Porter)

Did Rob Portman Lobby for Haiti? No. - If Mitt Romney picks Rob Portman as a running mate, Democrats will immediately pounce, portraying him not just as Bush crony but also a former lobbyist for former Haitian dictator Jean Claude "Baby Doc" Duvalier. http://abcn.ws/M78Whd (Jonathan Karl)

Bush's Specter Casts Shadow Over Romney Campaign - The ties between Mitt Romney and the old GOP guard of George W. Bush just became a lot stronger. http://abcn.ws/LeIaPY (Matt Negrin)

Rick Santorum to Hold First Campaign Event for Mitt Romney on Saturday - This weekend former Pennsylvania Sen. Rick Santorum will hold his first formal campaign event for Mitt Romney since he became the presumptive Republican nominee, sources close to Santorum tell ABC News. http://abcn.ws/M700Za (Michael Falcone & Shushannah Walshe)

HIV Fund Oversight Visits More Frequent to Sunny Locales, Says GAO Report - Department of Health and Human Services workers responsible for overseeing a program that administers grants to programs that help impoverished HIV/AIDS patients occasionally take trips to ensure the money is being spent effectively. http://abcn.ws/N5t0SS (Jonathan Karl & Avery Miller)

EXCLUSIVE: Democrats Dump Opposition Research on Top Vice Presidential Contenders - Mitt Romney and his team in Boston aren't the only ones feverishly vetting potential running mates. In a non-descript Washington, DC office building within sight of the United States Capitol, a team of more than a dozen Democratic researchers have spent the last few months examining every nook and cranny of the records of several GOP vice presidential contenders. http://abcn.ws/NumwXW (Michael Falcone, Arlette Saenz, Gregory Simmons & Jonathan Karl)