Econ 101: December 16, 2011

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.

  • Members of Congress last night agreed on a $1 trillion bill to fund the government, averting a shutdown that would have started at midnight. [Washington Post]
  • Lawmakers are also considering a two-month extension of a soon-to-expire payroll tax cut, if a longer term deal can’t be reached. [Bloomberg]
  • Nine states will share $500 million in grants for winning the early education portion of President Obama’s Race to the Top program. [Associated Press]
  • Mortgage rates fell again this week, “matching the all-time low hit in early October.” [CNN Money]
  • The Securities and Exchange Commission “is pushing back against a court decision overruling a settlement it previously reached with Citigroup for its actions during the financial crisis.” [The Hill]
  • Job Corzine, CEO of the failed investment firm MF Global, yesterday “rebuffed an assertion that he knew about customer money that might have been transferred to a European affiliate just before MF Global collapsed.” [Associated Press]
  • A new report shows that “state governments are collectively losing out on over $10 billion in transportation revenue each year due to state lawmakers’ reluctance to update gas taxes.” [Huffington Post]
  • Fitch Ratings yesterday downgraded seven U.S. and European banks, “citing ‘increased challenges’ in the financial markets.” [CNBC]