"Econ 101: June 7, 2011"
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.
- Treasury Secretary Tim Geithner “called out Wall Street and lawmakers on Monday for trying to undermine last year’s landmark financial reform law,” and criticized congressional Republicans for trying to “starve” regulatory agencies. [CNN Money]
- Austan Goolsbee, chair of the Council of Economic Advisers, announced that he is leaving the administration to return to his teaching post at the University of Chicago. [The New York Times]
- Almost 40 percent of homeowners who took out second mortgages are underwater. [The Wall Street Journal]
- Sen. Dick Durbin (D-IL) pushes to close the Amazon loophole. [Politico]
- “The nation’s largest mortgage companies are operating on the assumption that they will have to pay as much as $20 billion” to settle charges stemming from the foreclosure fraud scandal. [The Huffington Post]
- Nearly one year after the Dodd-Frank financial reform law was passed, “more than two dozen of the legislation’s rules are behind schedule.” [The New York Times]
- Bank of America threatens to foreclose on a man unless he pays his full bill of $0. [WWLP]
- In return for agreeing to raise the debt ceiling, House Republicans might demand switching the U.S. onto a two-year budget process, rather than an annual one. [The Hill]
- The Editorial Projects in Education Research Center found that “the national graduation rate stands at 71.7 percent for the class of 2008, the most recent year for which data are available.” This is the highest level since the 1980s. [Education Week]
- Republican governors who have pushed sweeping, controversial education changes “have seen their approval ratings slide.” [Education Week]