Econ 101: May 25, 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 Eurozone economy is contracting at the fastest pace in three years. [Financial Times]
  • Bank lending fell in the last quarter, after almost a year of growth, while bank profits hit a five year high. [Wall Street Journal]
  • More states are moving towards establishing independent tax tribunals to handle tax disputes. [Reuters]
  • What would a Greek exit from the Eurozone mean for the U.S.? [Reuters]
  • A top economists is pushing Congress to pass legislation that would help homeowners refinance their mortgages. [The Hill]
  • Morgan Stanley will give refunds to some investors who overpaid for Facebook stock during the company’s initial public offering. [Associated Press]
  • The Securities and Exchange Commission has completed its investigation into Lehman Brothers’ actions during the financial crisis and has decided not to move forward with fraud charges. [Bloomberg]