Econ 101: May 22, 2012

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.

  • The Organization for Economic Cooperation and Development is warning of a “severe recession” in the Eurozone, predicting its economy could contract by 2 percent this year. [Washington Post]
  • The International Monetary Fund is calling on the UK to do more to boost its economy. [Associated Press]
  • The Federal Deposit Insurance Corp. is suing some of the nation’s biggest banks for misrepresenting mortgage securities that they sold. [Wall Street Journal]
  • In several states, scholarship funds meant for low-income students are instead going to benefit private schools. [New York Times]
  • The Obama administration is proposing to divide $400 million between school districts that design new education delivery methods. [Reuters]
  • Senate Democrats are urging Speaker John Boehner (R-OH) to schedule a vote on legislation that would penalize Americans who renounce citizenship for tax purposes, after Boehner expressed some support for the idea. [The Hill]
  • Walmart shareholders are being urged not to re-eclect CEO Mike Duke,due to his failure to prevent a widespread bribery scandal. [Associated Press]