Econ 101: January 7, 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.

  • U.S. banks are close to a $10 billion settlement with regulators for improperly foreclosing on homeowners. [Financial Times]
  • Global banking regulators have watered down a new regulation requiring banks to hold enough cash to weather an economic downturn. [Wall Street Journal]
  • Congressional Democrats say they want to raise $1 trillion in new revenue via tax reform this year. [The Hill]
  • Big corporations have been exploiting a tax break meant for small family farmers. [New York Times]
  • Regulators are having a hard time keeping up with financial fraud, despite new rules instituted after the discovery of Bernie Madoff’s ponzi scheme. [New York Times]
  • The National Hockey League and its players reached an agreement to end the lockout that wiped out more than a third of the season. [Associated Press]
  • Egypt is looking to secure a $4.8 billion loan from the International Monetary Fund. [CNBC]