Econ 101: July 5, 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.

Photo by flickr user gilsonrome

  • Some cities in California are considering using their eminent domain powers to rework mortgages. [Wall Street Journal]
  • More than a dozen banks are under investigation for manipulating interbank lending rates. [Bloomberg]
  • The European Central Bank is expected to cut interest rates to record lows this week. [CNN Money]
  • Wells Fargo spends more on Washington lobbying than any other major U.S. bank. [Financial Times]
  • France released a budget package yesterday heavy on higher taxes for the wealthy. [Financial Times]
  • Average apartment rent last quarter rose at the highest rate since 2007. [Reuters]
  • More than one million homes and businesses are still without power following the storm that pounded the mid-Atlantic last weekend. [Reuters]