Econ 101: March 1, 2013

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.

  • Budget cuts under the so-called “sequester” go into effect today. [Reuters]
  • Unemployment in the Eurozone hit yet another record high of 11.9 percent last month. [Wall Street Journal]
  • Amtrak carried a record number of passengers last year, as rail became the fastest growing mode of transportation in the U.S. [Washington Post]
  • A Washington state court ruled that a law restricting the ability of lawmakers to raise taxes is unconstitutional. [New York Times]
  • New York state is investigating Bank of America for potential misdeeds having to do with mortgage securities. [Bloomberg]
  • Homeowners will start to see money from the recent foreclosure fraud settlement in April. [The Hill]
  • Regulators might water down key new rules on derivatives trading. [Huffington Post]