Econ 101: October 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. You can also follow ThinkProgress Economy on Twitter.

  • The $700 billion Troubled Asset Relief Program (TARP) was approved three years ago today. [Politico]
  • Economists are calling for “massive debt relief” in order to aid the struggling U.S. economy. [CNBC]
  • Over the weekend, New York City police “arrested more than 700 demonstrators from the Occupy Wall Street protests who took to the roadway as they tried to cross the Brooklyn Bridge.” [New York Times]
  • Greece will “miss a deficit target set just months ago in a massive bailout package…showing that drastic steps taken to avert bankruptcy may not be enough.” [Reuters]
  • President Obama “could send trade pacts with South Korea, Colombia and Panama to Congress for approval early this week, setting the stage for final passage of the agreements in mid-October.” [Wall Street Journal]
  • According to the latest Commerce Department data, “take-home pay, adjusted for prices, fell 0.3 percent in August, the third decrease in five months, and personal income dropped for the first time in two years.” [Bloomberg]
  • The Senate prepares to vote on a bill cracking down on China’s currency manipulation. [Reuters]
  • A squabble amongst insurance companies in Washington “threatens to delay renewal of the National Flood Insurance Program this month.” [The Hill]