Econ 101: December 14, 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.

  • UBS is reportedly close to a $1 billion settlement with regulators over charges that it manipulated key interest rates. [Wall Street Journal]
  • State officials are worried that federal budget cuts will damage their local economies. [New York Times]
  • The European Union has come to a tentative agreement to cap banker bonuses. [Financial Times]
  • The Congressional Research Service re-released a report showing that tax rates for the rich have little bearing on economic growth. [Reuters]
  • The Senate failed to pas a bill that would have extended a bank deposit insurance program created during the financial crisis. [New York Times]
  • The U.S. won’t sign onto a United Nations telecommunications treaty. [The Hill]
  • Walmart may be in the running to purchase bankrupt treat-maker Hostess. [Reuters]
  • The amount of homework assigned to American students is on the rise. [Education Week]