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.
- Foreclosure filings have fallen to their lowest level since 2007, “as processing delays and foreclosure prevention measures enabled a larger number of delinquent borrowers to remain in their homes.” [CNN Money]
- According to economists, “the plunge in the stock markets over the past month could deal another significant blow to Americans’ spending habits — a threat that could imperil any meaningful economic recovery.” [Huffington Post]
- In Europe yesterday, “rumors swirled about the health of French banks and the possibility that France could lose its AAA credit rating as the country’s borrowing costs rise. ” [Wall Street Journal]
- Rep. Jan Schakowsky (D-IL) announced yesterday that she will be introducing a $227 billion jobs plan that will be paid for by raising taxes on millionaires and cutting corporate tax subsidies. [Huffington Post]
- As he gears up for a possible presidential run, Gov. Rick Perry (R-TX) “told an assembly of state lawmakers from around the country that the federal government needs to stop ‘dictating’ school policy.” [Education Week]
- “Eight states have raised their standards for passing elementary-school math and reading tests in recent years, but these states and most others still fall below national benchmarks,” according to the latest National Assessment of Educational Programs. [Wall Street Journal]
- Bank of America CEO Brian Moynihan said yesterday that “he often regrets the bank’s 2008 purchase of mortgage lender Countrywide, but the loan losses from that deal will not force the bank to issue new shares.” [Reuters]
- The Securities and Exchange Commission “is probing farm machine maker Deere & Co for possible violations of a law that bars American companies from bribing foreign officials.” [Reuters]
- During a radio interview, Rep. Cory Gardner (R-CO) said that “it would make sense to shut down the U.S. Department of Transportation and let states handle its functions.” [The Hill]
- Sen. Jack Reed (D-RI) said yesterday that the Obama administration “backs his plan to turn vacant, foreclosed homes into rental units.” [The Hill]
- A study released by the Federal Reserve “found that the number of credit cards issued to college students and members of alumni associations in 2010 fell 17 percent from the previous year.” [McClatchy]
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