Econ 101: October 27, 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.

  • European Union leaders agreed today “to a plan that imposes steep losses on investors holding troubled Greek bonds and boosts the firepower of the region’s bailout fund to at least a trillion dollars.” [Washington Post]
  • Big banks are clashing with regulators over how much capital they should be holding. [Wall Street Journal]
  • Investors are reportedly “showing interest in an evolving Obama administration plan to sell off foreclosed homes.” [Reuters]
  • According to the latest data, states “notched a double-digit rise in tax revenue in the second quarter.” [Wall Street Journal]
  • America’s jobless stay hopeful, as “a little more than half of those polled said they were either very or somewhat confident they would find long-term employment in the next year.” [New York Times]
  • Democrats on Congress’ fiscal supercommittee released a plan yesterday that would reduce the deficit by “a total of $2.5 trillion to $3 trillion,” including “more than $1 trillion in new tax revenues.” [New York Times]
  • American residential mobility “is the lowest in the 60-plus years that the Census Bureau has tracked information on moves, dating back to 1948.” [Associated Press]
  • The Federal Housing Finance Agency is “reviewing a proposal to help troubled homeowners by forgiving a portion of their outstanding mortgage debt.” [Reuters]