Econ 101: November 30, 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.

  • Republicans yesterday said that they will join Democrats in supporting an extension of the expiring payroll tax cut, but won’t agree to higher taxes on millionaires to pay for it. [Wall Street Journal]
  • European finance minsters yesterday delayed any action on a fiscal rescue for the continent “until their bosses meet next week in Brussels.” [Associated Press]
  • Federal Reserve Vice-Chairman Janet Yellen said yesterday that “the U.S. central bank has room to ease monetary policy further, possibly by providing more information on the path of interest rates.” [Reuters]
  • The ratings agency Standard & Poor’s yesterday “reduced its credit ratings on 15 big banking companies, mostly in the Europe and the United States,” after overhauling its ratings criteria. [Reuters]
  • Opponents of the Dodd-Frank financial reform law get set to challenge it in court. [Politico]
  • The Federal Communications Commission said yesterday that “AT&T’s internal analysis and past practices contradict the company’s claims that its merger with T-Mobile would create jobs.” [Washington Post]
  • The number of students receiving subsidized school lunches “rose to 21 million last school year from 18 million in 2006-7, a 17 percent increase.” [New York Times]
  • Bank of America’s stock nears the $5 “danger zone.” [CNN Money]
  • I was on Countdown with Keith Olbermann last night, talking about this story on foreclosure fraud in the military. Watch it: