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.
- The Federal Housing Finance Agency, which oversees government mortgage giants Fannie Mae and Freddie Mac, “is set to file suits against more than a dozen big banks, accusing them of misrepresenting the quality of mortgage securities they assembled and sold at the height of the housing bubble, and seeking billions of dollars in compensation.” [New York Times]
- “The global manufacturing recovery appear[s] to have come to a grinding halt in August,” according to the latest data, “undermining hopes of a vigorous economic recovery in the second half of the year.” [Financial Times]
- “Wall Street money is heavily favoring Republican presidential candidate Mitt Romney in the race to unseat President Barack Obama,” with about 25 percent of Romney’s second quarter fundraising coming from the financial sector. [Reuters]
- U.S. regulators “have taken the unprecedented step of asking high-frequency trading firms to hand over the details of their trading strategies, and in some cases, their secret computer codes.” [Reuters]
- “More than 1 million self-employed Americans are no longer in business almost four years after the last recession began,” according to data from the Bureau of Labor Statistics. [Bloomberg]
- Federal Reserve Governor Elizabeth Duke yesterday “called for government efforts to promote the rental of foreclosed homes, saying a recovery in the U.S. housing market hinges on clearing the backlog of such properties.” [Bloomberg]
- The word’s richest families are selling gold and turning to art as an investment asset. [Reuters]
- The Federal Reserve has reportedly “asked Bank of America Corp to show what measures it could take if business conditions worsen,” after BofA’s stock plunged in recent weeks. [Reuters]
- Two Democratic senators warned yesterday “that 1.8 million jobs could be lost if Congress fails to approve a new transportation bill by Sept. 30.” [The Hill]
- House Republicans still haven’t named members to a committee conference to work out differences with Senate Democrats on a bill to fund the Federal Aviation Administration, increasing the possibility of another FAA shutdown when the agency’s funding runs out in mid-September. [Huffington Post]
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