Econ 101: August 8, 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.

  • Corporations, including pharmaceutical companies and banks, are on pace to pay $8 billion in charges for defrauding the government this year. [New York Times]
  • Home prices jumped by their largest percentage in seven years last quarter. [Wall Street Journal]
  • A bipartisan duo of senators is pushing the Federal Reserve to require big banks to hold bigger capital cushions. [Politico]
  • South Korea is looking to overhaul a key interest rate, after uncovering evidence that banks may have colluded to manipulate it, much like UK and US banks manipulated the LIBOR rate. [Financial Times]
  • Disney reported record earnings for the last quarter, boosted by the success of The Avengers movie. [CNN Money]
  • The Bank of England is not expecting to take new steps to boost the UK economy, which is in a double-dip recession. [Reuters]
  • President Obama yesterday called on Congress to pass a five-year farm bill that is currently stalled by House Republicans. [The Hill]