AFP - The dollar was slightly stronger but coming off gains made early Monday after Washington moved to bolster US mortgage giants Fannie Mae and Freddie Mac, dealers said.
Reuters - Shares of National City Corp
and Washington Mutual plummeted more than 25 percent
each, leading financial stocks lower on Monday amid fears about
bank stability and the future of the mortgage market.
Reuters - Republican presidential candidate John
McCain said on Monday he backed U.S. actions aimed at saving
mortgage finance giants Freddie Mac and Fannie Mae from
financial collapse. -- read full article
Reuters - Stocks tumbled on Monday as concerns
about the credit crisis and financial companies outweighed
earlier optimism over the government's proposed rescue plan for
mortgage finance companies Fannie Mae and Freddie Mac
.
AP - Stocks declined Monday as investors worried that even a safety net set up over the weekend for mortgage financiers Fannie Mae and Freddie Mac couldn't head off further troubles in the financial markets.
Reuters - Buyers flocked to Freddie Mac's $3
billion debt sale on Monday, just hours after the U.S.
government pledged support for the nation's top mortgage
finance agencies, but the steps failed to stem growing alarm on
Wall Street.
AFP - Shares in Fannie Mae and Freddie Mac struggled Monday after a near-meltdown last week, as investors mulled a weekend plan offering a government lifeline for the US mortgage finance giants.
Reuters - The U.S. Treasury Department will
issue a statement on Sunday expressing support for beleaguered
mortgage finance lenders Freddie Mac and Fannie Mae
, a source familiar with the matter said.
AP - Confronted by record foreclosures, the Federal Reserve is ready to give home buyers more protection from the types of shady lending practices that have contributed to the housing crisis.
AFP - Troubled mortgage giant Freddie Mac is aiming to sell off three billion dollars in securities on Monday following last week's meltdown, in a potentially decisive move to heal shattered investor confidence.
Reuters - The U.S. Treasury on Sunday may say
it is prepared to take an equity stake in troubled mortgage
financiers Fannie Mae and Freddie Mac if
requested, sources close to talks about the issue said. -- read full article
Reuters - U.S. securities regulators are
boosting efforts to stop the spread of false rumors that
threaten financial institutions, after a week that saw steep
slides in the shares of Fannie Mae , Freddie Mac
and Lehman Brothers . -- read full article
Reuters - U.S. government support for mortgage
giants Fannie Mae and Freddie Mac should protect taxpayers and
not bail out shareholders or management, Democratic
presidential hopeful Barack Obama said on Sunday.
AP - The U.S. government is signaling it won't throw a lifeline to struggling financial companies — except for mortgage linchpins Fannie Mae and Freddie Mac — marking a shift to a new and potentially more volatile phase of the credit crisis.
