AP - Wall Street and Washington wrestled Friday with how to shore up mortgage giants Fannie Mae and Freddie Mac, two troubled pillars of the economy whose failure would deal a devastating blow to the already crippled housing market.

AFP - US conglomerate General Electric Co. will sell its Japanese consumer finance arm to Shinsei Bank in a multi-billion dollar deal, a newspaper reported Friday.

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

AFP - Japan's Shinsei Bank said Friday it had agreed to buy US giant General Electric's Japanese consumer finance arm for 580 billion yen (5.4 billion dollars) in a major push into the troubled sector.

AP - Shares of Fannie Mae and Freddie Mac plummeted Friday as Wall Street and Washington became more convinced that the government is likely to bail out the nation's key mortgage financiers.

AP - Industrial and financial conglomerate General Electric Co. said Friday its profit fell 6 percent in the second quarter, and has agreed to sell its Japanese consumer finance business for $5.4 billion.

AFP - Shares of US mortgage finance giants Fannie Mae and Freddie Mac were in a freefall Friday on heightened concerns the trillion-dollar firms may face insolvency or a government takeover.