Econ 101: November 9, 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.

  • “Credit unions attracted more than 40,000 new account holders last week during the so-called Bank Transfer Day,” a move inspired by the Occupy Wall Street protests. [Bloomberg]
  • How WalMart is benefiting from America’s frustration with big banks. [Huffington Post]
  • Yields on Italian bonds yesterday “edged above 7 percent, the highest level since the adoption of the euro 10 years ago and close to levels that have required other euro zone countries to seek bailouts.” [New York Times]
  • IMF Managing Director Christine Lagarde warned yesterday “that Europe’s debt crisis risked plunging the global economy into a ‘lost decade.’” [CNBC]
  • Former hedge fund manager Raj Rajaratnam, who was sentenced to more than 11 years in prison for insider trading, “was ordered to pay a record financial penalty of more than $92.8 million in a related civil case.” [Wall Street Journal]
  • The Federal Communications Commission will announce today “a program to provide low-income homes with $10 monthly broadband Internet service and $150 computers.” [Washington Post]
  • Goldman Sachs recorded trading losses on 21 days in the third quarter, “the most since the fourth quarter of 2008.” [Bloomberg]
  • Toyota announced yesterday that “it is recalling about 550,000 vehicles worldwide — mostly in the United States — for problems that could make it harder to steer.” [Associated Press]