AFP - The US government is considering a plan to take over mortgage giants Fannie Mae and Freddie Mac if their finance problems deepen, US media reported on Friday.

AP - Fears that the government will be forced to rescue Fannie Mae and Freddie Mac could well become a self-fulfilling prophecy.

Reuters - The Dow and the S&P 500 turned negative on Thursday as the price of oil jumped more than $5 and financial stocks fell on worries about more credit losses.

AP - Rupert Murdoch expects the capital markets to lurch through the next 12 months as Wall Street banks sift through mountains of bad debt related to the mortgage crisis, the News Corp. chairman said Wednesday.

Reuters - Wachovia Corp , the fourth-largest U.S. bank, named senior Treasury Department official Robert Steel chief executive, and said mortgage and legal problems would result in a $2.6 billion to $2.8 billion second-quarter loss, much larger than many analysts expected.

AFP - Wachovia Corp named US Treasury Department Under Secretary Robert Steel as its new chief executive Wednesday after the commercial banking giant ousted its previous CEO over hefty mortgage-related losses.

AP - Wall Street finished sharply higher Tuesday as oil prices dropped for the second straight day and investors were encouraged by the possibility of more help for the ailing financial system. The Dow Jones industrials gained more than 150 points, and all the major indexes were up more than 1 percent.

AP - The Federal Reserve will issue new rules next week aimed at protecting future homebuyers from dubious lending practices, its most sweeping response to a housing crisis that has propelled foreclosures to record highs.