Econ 101: November 1, 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.

  • Greek Prime Minister George Papandreou yesterday “stunned Europe by announcing a referendum on his country’s latest bailout—a high-stakes gamble that could undermine the international effort to preserve the euro.” [Wall Street Journal]
  • President Obama will meet with House Democrats today “to plot strategy on how to advance his jobs proposals that are stalled in Congress amid Republican resistance.” [Reuters]
  • Executives at Fannie Mae and Freddie Mac will receive “seven-figure paydays” after the two firms “met modest performance targets tied to modifying mortgages.” [Politico]
  • “Federal regulators have discovered that hundreds of millions of dollars in customer money has gone missing from MF Global,” a brokerage firm run by former New Jersey Gov. Jon Corzine that declared bankruptcy yesterday. [New York Times]
  • More big banks are joining the “race to backpedal on controversial debit card fees.” [CNN Money]
  • Sen. Dick Durbin (D-IL) “is calling on the nation’s largest banks to disclose how much they make in fees, especially those earned from consumers credit card usage.” [The Hill]
  • A new survey shows “one-in-three North Americans saying they have no spare cash.” [Huffington Post]
  • The heads of the Senate education committee “still aim to push a bipartisan revision of the much-criticized No Child Left Behind Act through Congress by year’s end.” [Education Week]