Econ 101: August 7, 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.

  • Facebook is getting into the gambling business in the UK, offering online games in which real money is wagered. [Financial Times]
  • In a new survey, most U.S. banks say demand for home loans is growing. [Wall Street Journal]
  • The UK bank Standard Chartered has been accused by New York regulators of hiding tens of thousands of transactions with Iranian clients. [CNN Money]
  • Nearly every U.S. congressional district showed higher export growth to China than to other markets last year. [The Hill]
  • Commodity Futures Trading Commission Chairman Gary Gensler said in a New York Times op-ed that it may be time to scrap LIBOR, the interest rate at the center of a rigging scandal. [New York Times]
  • The President of the Boston Federal Reserve wants the central bank to launch an aggressive program to reduce unemployment. [Wall Street Journal]
  • The summer job market for teens this year was the strongest its been since 2007. [The Hill]
  • The Center for American Progress put together this video explaining the rise and fall of supply-side economics: