Econ 101: May 14, 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.

  • Three top JP Morgan executives will reportedly resign due to the bank’s $2 billion trading loss. [Reuters]
  • Talks to form a Greek government have not amounted to anything, inching the country closer to a new round of elections. [New York Times]
  • Yahoo CEO Scott Thompson resigned in the wake of a controversy over embellishments on his resume. [CNN Money]
  • Facebook will officially go public this week, with the company expected to be valued at about $100 billion. [Associated Press]
  • German Chancellor Angela Merkel’s party lost a key election over the weekend, dealing another blow to pro-austerity parties in Europe. [Reuters]
  • California’s budget deficit is coming in about $7 billion higher than expected. [Reuters]
  • The Senate is scheduled to hold a cloture vote today on a measure to reauthorize the Export-Import Bank. [The Hill]
  • American Airlines has been forced by its bankruptcy creditors to consider merging with another company. [Associated Press]