Econ 101: August 15, 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.

  • The current Congress is on pace to be the least productive since 1947. [USA Today]
  • The Obama campaign is starting state-specific campaigns targeting Vice Presidential candidate Paul Ryan’s budget. [Associated Press]
  • The British bank Standard Chartered has agreed to pay $340 million to settle charges that it circumvented sanctions against Iran. [New York Times]
  • Government backed mortgage giants Fannie Mae and Freddie Mac are stepping up efforts to force banks to buy back bad home loans. [Reuters]
  • Investors and corporations are pulling money out of China. [Wall Street Journal]
  • Greece is in talks with European leaders to slow down its austerity program. [Financial Times]
  • U.S. retail sales increased in July for the first time in four months. [The Hill]
  • AT&T; employees have launched a class-action suit alleging that the company violated labor law. [Huffington Post]