Econ 101: July 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.

  • President Obama is leading debt ceiling negotiations at the White House today, and reportedly “wants to move well beyond the $2 trillion in savings sought in earlier negotiations and seek perhaps twice as much over the next decade.” [New York Times]
  • The administration is reportedly open to considering Social Security changes during the debt ceiling negotiations. [National Journal]
  • “Behind the scenes, top Treasury officials have been exploring ways to prevent a financial meltdown” in case Congress fails to raise the debt ceiling on time. [Reuters]
  • Mega-bank Goldman Sachs “borrowed $15 billion from the Federal Reserve in late 2008, the biggest single loan in a crisis-era program for which previously secret details were disclosed Wednesday.” [Wall Street Journal]
  • Federal Deposit Insurance Corp. Chair Sheila Bair steps down this week, and “leaves behind an agency transformed from a sleepy bank overseer into a financial regulatory powerhouse. ” [Wall Street Journal]
  • According to a new Pew Research Center study, “men are outpacing women in getting jobs as the economy struggles back to life — and they’re doing it partly by taking work in fields long dominated by women.” [Washington Post]
  • Minnesota lawmakers don’t know how much their ongoing government shutdown costs, because the public employees who would provide the calculations aren’t able to work. [Washington Post]
  • “Federal regulators will be able to take back up to two years of Wall Street executives’ pay if they are found responsible for the collapse of a major financial firm,” under a new plan approved by the FDIC. [New York Times]
  • According to a CNN Money survey of economists, “housing prices are likely to keep falling the rest of this year, and probably won’t show much improvement next year either.” [CNN Money]
  • The Senate Finance Committee will hold another markup of three pending trade deals today, after Republicans boycotted the last one to protest the inclusion of worker aid in the deals. [The Hill]
  • Federal bank regulators are reportedly “scrutinizing more than 150 home loan-related lawsuits directed at lenders and mortgage companies.” [Huffington Post]