Econ 101: June 21, 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.

  • In the wake of Facebook’s messy initial public offering, a bipartisan group of lawmakers have asked regulators to overhaul the IPO process. [Wall Street Journal]
  • A new Gallup poll shows that confidence in the American school system has hit an all-time low. [Huffington Post]
  • JP Morgan Chase’s political action committee has stopped donating to federal politicians since the bank came under fire for a trading debacle that has cost it billions of dollars. [Politico]
  • The largest number of complaints to the Consumer Financial Protection Bureau last year were about the nation’s biggest banks. [Washington Post]
  • In Europe, countries that have implemented austerity have seen their household consumption fall, while those that haven’t implemented austerity have seen it rise. [Wall Street Journal]
  • Apple is raising hourly pay for its employees by 25 percent. [Wall Street Journal]
  • Spain’s borrowing costs hit a euro-era record today. [CNBC]