Econ 101: December 19, 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.

  • House Republican leaders yesterday “flatly rejected a short-term, bipartisan Senate measure to extend a payroll tax break and unemployment insurance,” leaving those measures set to expire at year’s end. [New York Times]
  • The European fiscal crisis rolls on, as the continent’s finance ministers meet today in to discuss bolstering the IMF’s lending ability. [Reuters]
  • The U.S. Federal Reserve “is expected to embrace a new global framework that requires giant financial institutions to hold extra capital.” [Wall Street Journal]
  • House Republican lawmakers “are likely to write a Republican-only version of the reauthorization of the Elementary and Secondary Education Act,” better known as No Child Left Behind. [Education Week]
  • The Federal Housing Finance Agency “is joining forces with New York’s attorney-general to investigate banks’ mortgage securitization practices.” [Financial Times]
  • The home loan modification process “remains a bureaucratic nightmare that is complicating the housing recovery.” [Reuters]
  • Senate Republicans are refusing to sign off on a slew of President Obama’s appointments to financial regulatory agencies until next year. [Reuters]
  • The unemployment rate for veterans aged 20-24 is 30 percent, “more than double that of others the same age.” [New York Times]