Econ 101: June 4, 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.

  • Germany is pushing European leaders to embrace even tighter fiscal and policy consolidation. [Reuters]
  • JP Morgan Chase, before it lost billions in a bungled trade, ignored warnings from shareholders that its risk controls were lacking. [New York Times]
  • Mass transit use increased 5 percent in the first quarter of 2012. [CNN Money]
  • The Senate is expected to take up a five-year farm and food aid bill this week. [Associated Press]
  • May’s weak jobs report may spur the Federal Reserve to take new actions to boost the economy, much to the chagrin of Congressional Republicans. [The Hill]
  • According to court documents filed Sunday evening, Bank of America failed to disclose key information to shareholders before its purchase of Merrill Lynch. [New York Times]
  • Portugal is planning to inject $8 billion into its biggest banks to help them weather the euo crisis. [CNBC]