Econ 101: November 18, 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.

  • Italy unveiled new budget reforms yesterday, and Spain and France’s borrowing costs were pushed to new levels as the Eurozone’s fiscal crisis continued. [CNBC]
  • New York police prevented protesters from shutting down Wall Street yesterday, “arresting more than 200 people.” [Reuters]
  • The fiscal supercommittee charged with crafting a debt reduction deal by Thanksgiving is hung up on what to do with the Bush tax cuts. [Wall Street Journal]
  • Big bank critic Thomas Hoenig looks set to be confirmed as vice chairman of the Federal Deposit Insurance Corp. [Wall Street Journal]
  • New York Federal Reserve President William Dudley is calling for more aid to homeowners, saying that “the central bank is not yet ‘out of ammunition.'” [CNN Money]
  • The California Attorney General’s office has “subpoenaed information from mortgage titans Fannie Mae and Freddie Mac as part of a wide-ranging inquiry into lending and foreclosure practices in the state.” [Los Angeles Times]
  • At the current pace, “automakers are poised to sell vehicles at an annual pace of more than 14 million by the second half of 2012.” [Reuters]
  • The business lobby wants a do-over on the Volcker rule, a new regulation meant to rein in risky trading by big banks. [The Hill]