Econ 101: June 21, 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.

  • A bill limiting the ability of public employees to bargain for their health care benefits passed the New Jersey state senate yesterday, as protests occurred both inside and outside the state capital. The state Assembly is expected to vote later this week. [New York Times]
  • The Supreme Court yesterday dismissed a sex discrimination suit brought against WalMart by 1.5 million women. The ruling “significantly tightened the rules for how a large group of individuals can join together to sue a company for alleged harm done to them.” [New York Times]
  • Federal regulators yesterday “accused J.P. Morgan Chase & Co. and Royal Bank of Scotland Group PLC of duping five large credit unions into buying more than $3 billion in mortgage bonds that were ‘destined to perform poorly.'” [Wall Street Journal]
  • “The worst-performing public schools in Detroit will be removed from the city’s school system and run by a new state authority” called the Educational Achievement System. [Wall Street Journal]
  • Politically collected lawyers collect millions of dollars in fees for handling distressed real estate holdings in New York. [New York Times]
  • The White House said yesterday that it is “leaving open the possibility of a short-term debt ceiling vote this summer if lawmakers and administration officials cannot reach a deal” by the August 2 deadline. [WSJ’s Washington Wire]
  • The Obama administration said yesterday that “employers should disclose more information about the consultants they hire to respond to union bargaining or organizing campaigns.” [Wall Street Journal]
  • Sen. Jon Kyl (R-AZ) said yesterday that Republicans “want commitments on a 10-year budget plan that guarantees reduced spending as part of any agreement to increase the debt ceiling.” [The Hill]
  • The Florida Education Association yesterday said that “it has filed a class action lawsuit against Gov. Rick Scott and other trustees of the state retirement plan, alleging it unconstitutionally imposed a 3 percent pay cut on teachers to balance the budget.” [McClatchy]
  • The International Monetary Fund hopes to have named a new managing director by the end of the month. [Associated Press]
  • Gov. Jerry Brown (D-CA) proposes suspending California’s education data collection system. [Education Week]