Econ 101: October 20, 2011

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"Econ 101: October 20, 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.

  • Senate Majority Leader Harry Reid (D-NV) has scheduled a Friday vote for a bill providing states with $35 billion to prevent layoffs of public employees. [The Hill]
  • France and Germany remain at odds over the best way to stem Europe’s mounting financial crisis. [Bloomberg]
  • According to the Federal Reserve’s latest analysis, “the economy is losing steam across much of the nation, but is still growing and not in recession.” [CNN Money]
  • The California Attorney General’s office has “subpoenaed Bank of America Corp. in connection with the sale and marketing of troubled mortgage-backed securities to California investors.” [Los Angeles Times]
  • A deadly outbreak of listeria that was traced to tainted cantaloupes “was probably caused by unsanitary conditions in the packing shed of the Colorado farm where the melons were grown.” [New York Times]
  • Sens. Chuck Schumer (D-NY) and Mike Lee (R-UT) have proposed a bill “that would give residence visas to foreigners who spend at least $500,000 to buy houses in the U.S.” [Wall Street Journal]
  • A New Jersey man yesterday sued Bank of America, JPMorgan Chase and Wells Fargo, “accusing the banks of colluding to fix the fees they charge customers to withdraw money.” [Reuters]
  • Worldwide, the number of people between the ages of 15 and 24 who are looking for work but can’t find it “has expanded by 4.6 million since the Great Recession began,” according to a new report by the International Labour Organization. [Huffington Post]
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