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.
- Prof. Elizabeth Warren, who just completed her work setting up the new Consumer Financial Protection Bureau, “launched an exploratory committee and website” yesterday to look into challenging Sen. Scott Brown (R-MA) in November. [The Hill]
- “Just three years after the financial crisis drove some of the biggest names in finance to the brink of collapse, the combination of European disarray, the downgrading of U.S. debt and a stagnating global economy have rekindled fears about the banking sector’s stability.” [Washington Post]
- Falling European markets yesterday “renewed fears that Europe’s banks are too weak to withstand the Continent’s debt crisis, increasing the chances that the region’s leaders will be forced to pursue radical steps toward fiscal union in order to preserve their common currency.” [Wall Street Journal]
- Ohio’s labor unions “have rejected an offer by Ohio Gov. John Kasich to seek a compromise on a new law that removes most collective-bargaining rights for the state’s 350,000 public employees, as a fight over the legislation heads toward a statewide referendum in November.” [Wall Street Journal]
- U.S. mortgage rates have fallen “to the lowest in more than half a century as concern that the global economic recovery is faltering spurred demand for bonds that guide home loans.” [Bloomberg]
- Rep. Barney Frank (D-MA) “is calling on the Federal Reserve to give the public more opportunity to consider a proposed bank merger” between ING and Capital One. [The Hill]
- Striking Verizon workers “held a candlelight vigil outside their CEO’s mansion Thursday, hoping to draw a stark contrast between the contract demands of blue-collar workers and the quality of life enjoyed by the company’s executives.” [Associated Press]
- The troubled Bank of America “is cutting 3,500 jobs in the current quarter and working on a broader restructuring that could eliminate thousands of additional positions.” [Wall Street Journal]
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