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 Obama administration has not yet agreed on what ideas will be included in a jobs plan to be unveiled next week, “and it remained unclear whether the president was looking for narrower ideas with a realistic chance of passing the Republican-led House or more sweeping stimulus proposals that would excite his liberal base and draw contrasts with the GOP.” [Washington Post]
- Multigenerational households, “defined as those with three or more generations living under one roof, grew to almost 5.1 million in 2010, a 30 percent increase from 3.9 million in 2000,” according to the latest Census Bureau data. [Bloomberg]
- The Federal Deposit Insurance Corp. has “filed an objection to Bank of America’s proposed $8.5 billion mortgage-bond settlement with investors, joining investors and states that are challenging the agreement.” [Bloomberg]
- Lenders are making more subprime auto loans, “reversing the cautious approach they adopted after the credit crisis,” according to a new report. “The portion of car loans made to subprime borrowers rose to 40.8 percent in the second quarter from 37.2 percent a year earlier.” [Reuters]
- “People struggling to keep their homes due to job struggles will have more time to seek government assistance,” as a program originally scheduled to expire in July has been extended through Sept. 15. [The Hill]
- Former GOP congressman Pete Hoekstra, “who is now running for the U.S. Senate in Michigan, called for the repeal of Wall Street reform legislation on Monday, arguing that ‘the heavy hand of the federal government’ is making it impossible for bankers to do their jobs.” [Huffington Post]
- Kentucky has named a special prosecutor to examine potential campaign-finance law violationd by the for-profit college Sullivan University, “which urged employees at a gathering this month to defeat Democratic Attorney General Jack Conway.” [Lexington Herald-Leader]
- Contract talks between the United Automobile Workers and the Detroit automakers are continuing — as the current contract between the two expires on Sept. 14 — with the union pressing for wage increases for entry-level workers as a critical part of a new national labor agreement.” [New York Times]
- The New York State comptroller’s office “rejected a $27 million contract with a News Corporation subsidiary to build a data system for tracking student performance, as fallout widens against the international media conglomerate due to a phone hacking scandal in Britain.” [New York Times]
Advertisement