Econ 101: September 12, 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.

  • Germany’s top court today rejected a request to block the country from participating in Europe’s financial rescue fund. [Associated Press]
  • The European Union also unveiled a plan for a new banking union. [Reuters]
  • The Federal Reserve board starts a two-day meeting today during which it will decide whether to take additional steps to boost the economy. [The Hill]
  • A former banker-turned-whistleblower who helped the government launch an international tax evasion crackdown has been awarded $104 million by the IRS. [Wall Street Journal]
  • The credit rating agency Moody’s has threatened to downgrade the United States unless Congress reaches a deficit reduction deal. [Financial Times]
  • More than 8 percent of U.S. households are managing their finances without using a bank. [Wall Street Journal]
  • U.S. regulators are set to choose the first non-banks that will be designated threats to the financial system under the 2010 Dodd-Frank law. [Bloomberg]
  • The Obama administration has yet to decide whether it will take action against China for what labor unions call unfair subsidizing of auto parts. [Reuters]