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    Personal Finance Headlines
    Congress could pass housing aid by next week: White House (Reuters)
    Reuters - Congress should be able to approve legislation aimed at shoring up mortgage lending giants Fannie Mae and Freddie Mac by next week and has an existing housing bill as a vehicle, the White House said on Wednesday. -- read full article
    Wed, 16 Jul 2008 14:45:05 GMT - Yahoo! News: Personal Finance News
    Wells Fargo results ease fears, shares surge (Reuters)
    Reuters - Wells Fargo & Co , the fifth-largest U.S. bank, reported surprisingly strong quarterly results and raised its dividend, easing investor fears about mortgage losses and causing its shares to soar on Wednesday. -- read full article
    Wed, 16 Jul 2008 16:35:19 GMT - Yahoo! News: Personal Finance News
    Fannie, Freddie shares jump; financial stocks rally (Reuters)

    A graphic on US housing finance giants Fannie Mae and Freddie Mac. Ailing mortgage finance firms Fannie Mae and Freddie Mac are Reuters - NEW YORK (Reuters) -Investors bought back into shares of mortgage finance companies Fannie Mae and Freddie Mac on Wednesday, after reassuring results from big mortgage lender Wells Fargo helped ease concerns about the impact of the credit crisis on the U.S. economy.


    -- read full article
    Wed, 16 Jul 2008 16:50:13 GMT - Yahoo! News: Personal Finance News
    Bernanke: Fannie, Freddie in no danger of failing (AP)

    Federal Reserve Chairman Ben Bernanke testifies on Capitol Hill in Washington, Wednesday, July 16, 2008, before the House Financial Services Committee hearing on monetary policy and the state of the economy. (AP Photo/Susan Walsh)AP - Federal Reserve Chairman Ben Bernanke told Congress Wednesday that troubled mortgage giants Fannie Mae and Freddie Mac are in "no danger of failing."


    -- read full article
    Wed, 16 Jul 2008 17:09:24 GMT - Yahoo! News: Personal Finance News
    Fannie, Freddie 'in no danger of failing': Bernanke (AFP)

    Federal Reserve Chairman Ben Bernanke testifies during a hearing before the House Financial Services Committee on Capitol Hill in Washington, DC. Ailing mortgage finance firms Fannie Mae and Freddie Mac are AFP - Ailing mortgage finance firms Fannie Mae and Freddie Mac are "in no danger of failing" but are having trouble raising capital due to falling share prices, Federal Reserve chairman Ben Bernanke said Wednesday.


    -- read full article
    Wed, 16 Jul 2008 17:43:21 GMT - Yahoo! News: Personal Finance News
    FBI mortgage probe expands to 21 firms from 19 (Reuters)

    In this May 9, 2008 file photo. a foreclosure sign stands outside a home in Denver.  The optimism that surrounds a new president taking office cannot resurrect home values overnight, and presidents have no direct ability to reduce rising mortgage rates. Nevertheless, Democrat Barack Obama and Republican John McCain both promise help for homeowners facing foreclosure.  (AP Photo/David Zalubowski, File)Reuters - The FBI's investigation into potential corporate fraud in the U.S. home mortgage industry now encompasses 21 companies, up from 19 reported in April, a bureau spokesman said on Wednesday.


    -- read full article
    Wed, 16 Jul 2008 18:08:50 GMT - Yahoo! News: Personal Finance News
    Democrats, Paulson fight to keep housing bill alive (Reuters)
    Reuters - Congressional Democrats and the Bush administration were scrambling on Wednesday to shore up support for a major housing market rescue bill as Republican backing for it faltered on doubts about adding on a plan to bolster Fannie Mae and Freddie Mac. -- read full article
    Wed, 16 Jul 2008 18:29:56 GMT - Yahoo! News: Personal Finance News
    FBI looking into IndyMac Bancorp. (AP)
    AP - The Associated Press has learned that now-defunct IndyMac Bancorp Inc. is under investigation for possible fraud in connection with home loans made to risky borrowers. -- read full article
    Wed, 16 Jul 2008 18:52:42 GMT - Yahoo! News: Personal Finance News
    Congress dissects Treasury's GSE plan, no vote set (Reuters)
    Reuters - Congressional leaders on Tuesday agreed swift action is needed to bolster housing finance giants Fannie Mae and Freddie Mac, but they raised basic questions about the Treasury Department's plan, leaving the timing of final action in doubt. -- read full article
    Tue, 15 Jul 2008 21:49:03 GMT - Yahoo! News: Personal Finance News
    Fannie, Freddie shares continue downward spiral (AP)
    AP - Shares of mortgage giants Fannie Mae and Freddie Mac tumbled again Tuesday as investors began to accept their holdings might be wiped out by a government rescue plan. -- read full article
    Tue, 15 Jul 2008 21:54:27 GMT - Yahoo! News: Personal Finance News
    SEC issues emergency rule to curb short sales (Reuters)

    Traders work on the floor of the New York Stock Exchange, June 24, 2008. REUTERS/Brendan McDermidReuters - U.S. securities regulators issued an emergency rule on Tuesday to limit certain types of short selling in major financial firms, including Fannie Mae and Freddie Mac .


    -- read full article
    Wed, 16 Jul 2008 02:51:39 GMT - Yahoo! News: Personal Finance News
    Bush: Troubled financial system is basically sound (AP)

    President Bush gestures in the briefing room of the White House in Washington, Tuesday, July 15, 2008, where he called on Congress to move quickly to put into force legislation designed to prop up mortgage giants Fannie Mae and Freddie Mac. (AP Photo/Ron Edmonds)AP - President Bush said Tuesday the nation's troubled financial system is "basically sound" and urged lawmakers to quickly enact legislation to prop up mortgage giants Fannie Mae and Freddie Mac.


    -- read full article
    Wed, 16 Jul 2008 04:22:42 GMT - Yahoo! News: Personal Finance News
    Global stocks dive on scepticism over US mortgage rescues (AFP)

    A detour sign is posted at the main entrance to the Freddie Mac headquarters in McLean, Virginia. World equity markets and the dollar fell heavily on scepticism that a dramatic weekend US government rescue of two mortgage giants -- including Freddie Mac -- would contain crisis in American finance.(AFP/File/Paul J. Richards)AFP - World equity markets and the dollar fell heavily on Tuesday on scepticism that a dramatic weekend US government rescue of two mortgage giants would contain crisis in American finance.


    -- read full article
    Tue, 15 Jul 2008 10:40:12 GMT - Yahoo! News: Personal Finance News
    Asia, Europe stocks drop on credit woes (AP)

    An investor watches stocks fall 4.51 percent to close at 6834.24 at a brokerage in Taipei, Taiwan, Tuesday, July 15, 2008. (AP Photo/Wally Santana)AP - Asian and European stock markets fell sharply Tuesday as investor confidence in the U.S. financial system eroded further despite a government-backed plan to help beleaguered mortgage financiers Fannie Mae and Freddie Mac.


    -- read full article
    Tue, 15 Jul 2008 11:54:51 GMT - Yahoo! News: Personal Finance News
    US markets anxious, awaiting Bernanke statement (AFP)

    People walk past a sign at the Freddie Mac headquarters in McLean, Virginia. US financial markets are on tenterhooks as the banking sector faced a crisis of confidence even after an unprecedented government rescue of mortage giants. Analysts said the intervention to support mortgage giants Fannie Mae and Freddie Mac appeared to have averted an immediate crisis but serious concerns remained.(AFP/File/Paul J. Richards)AFP - US financial markets remained on tenterhooks on Tuesday as the banking sector faced a crisis of confidence even after an unprecedented government rescue of mortgage giants.


    -- read full article
    Tue, 15 Jul 2008 11:57:04 GMT - Yahoo! News: Personal Finance News
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