Advertisement

Econ 101: June 3, 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.

  • President Obama is expected to announce today that the automaker Fiat has agreed to buy the U.S. interest in Chrysler.
  • “Moody’s Investors Service warned Thursday that it might review the government’s Aaa debt rating for a possible downgrade as early as next month if there is no progress toward a deal” on raising the country’s debt ceiling.
  • HUD Secretary Shaun Donovan said that a settlement regarding the foreclosure fraud settlement should come in a matter of weeks.
  • Yesterday, “Goldman Sachs was subpoenaed by Manhattan prosecutors seeking details on its conduct during the financial crisis, opening a fresh legal front for a bank facing probes from federal and state officials,” the FT reports.
  • “Fewer U.S. home loans are going delinquent and new problem loans have hit three-year lows, possible signs that a five-year wave of foreclosures is starting to recede,” USA Today reports.
  • “Many homeowners have been granted a hard-fought mortgage modification only to have their mortgage company effectively pull a bait and switch,” charging extra fees or reneging on the deal, Propublica reports.
  • The AP fact-checks Mitt Romney’s presidential campaign announcement speech.

Advertisement