Econ 101: May 23, 2012

Welcome to ThinkProgress Economy’s morning link roundup. This is what we’re reading. Have you seen any interesting news? Let us know in the comments section. You can also follow ThinkProgress Economy on Twitter.

  • Two financial regulatory agencies have launched investigations into JP Morgan’s massive trading loss. [New York Times]
  • Regulators are looking into reports that Morgan Stanley dampened Facebook’s IPO by sharing negative news about the company’s stock with some investors. [Los Angeles Times]
  • European leaders will meet to address the continent’s woes a day after the OECD warned of severe recession threats. [Washington Post]
  • The U.S. Chamber of Commerce plans to spend even more on the 2012 elections than it has in previous cycles. [Reuters]
  • European banks aren’t prepared for a possible Greek exit from the Euro. [Bloomberg]
  • The Consumer Financial Protection Bureau will announce new rules regarding prepaid debit cards today. [New York Times]
  • Despite economic improvements, many low-income Americans are still relying on credit cards to pay basic bills. [CNN Money]