Must Read Money Stories for Thursday, June 23

by June 23, 2016

Must Read Money Stories

The Brexit vote.

Today is the big day in Britain. Voters will decide whether Britain remains in the European Union, in the so-called Brexit vote. If you need some catching up on what’s at stake, the New York Times has an explainer. Because of the time difference, voting will already be underway by the time most of us in the U.S. wake up. Head on over to the BBC’s EU referendum page for the latest updates, or follow the hashtag #EUref on Twitter.

IMF downgrades America.

The International Monetary Fund downgraded its outlook for the U.S. economy yesterday. The Wall Street Journal reports the IMF still expects the U.S. to have economic growth this year, just less of it. And, longer term, the IMF says there are some bigger issues brewing for the American economy. The fund says the strong dollar, declining labor force participation and high income inequality could all cause problems down the road.

Medicare fraud crackdown.

The Department of Justice announced another big round of indictments meant to tackle the problem of Medicare fraud. According to CBS News, the DOJ says 300 people have been charged with bilking the system so far this year, making it the largest crackdown on Medicare fraud in history. All told, the cases involve fraudulent claims adding up to more than $900 million.

More Flint fallout.

Michigan’s attorney general announced a civil lawsuit against two private companies that advised the city of Flint on its water switch. The city’s failure to properly treat its water after the switch is what caused the pipes to corrode, which leeched lead into the water. The Detroit Free Press reports the civil lawsuit potentially involves a damage claim in the hundreds of millions of dollars. The companies say they did nothing wrong, insisting public officials were calling the shots in Flint.

Poll Card EU referendum” by flickr user Abi Begum CC license CC by 2.0.