Econ 101: May 31, 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.

  • The dive in Facebook’s stock price could be bad news for California’s budget. [Los Angeles Times]
  • The cost for the U.S. government to borrow has hit its lowest level since 1946, while it hit all-time lows in Germany and the UK. [Financial Times]
  • Ireland will vote today on a European fiscal treaty that would impose limits on budget deficits and debt. [Washington Post]
  • Colleges are cutting deals with financial institutions to provide debit cards and to disperse financial aid. [New York Times]
  • Short sales of U.S. homes have hit a three year high. [Bloomberg]
  • JP Morgan Chase is removing its “special investment group” from its chief investment office in an attempt to clean up after losing billions in a bungled trade. [Financial Times]
  • House Democrats are pushing a bill to ensure that financial executives can have their pay “clawed back” if their companies break federal laws. [The Hill]