AP - Uncle Sam has just become the 800 pound gorilla in the U.S. mortgage market. The Bush administration is seizing troubled mortgage giants Fannie Mae and Freddie Mac in a bid to help reverse a prolonged housing and credit crisis.

AFP - European stocks soared Monday in a massive relief rally after the US government bailed out ailing mortgage giants Fannie Mae and Freddie Mac, easing fears of a global financial meltdown.

AFP - The dollar jumped to an 11-month high against the euro Monday in volatile trading on news that the US Treasury was to bail out foundering US mortgage finance giants Fannie Mae and Freddie Mac.

AP - The government's historic bailout of Fannie Mae and Freddie Mac on Sunday will be good news to homebuyers and some homeowners hoping to refinance if it leads to lower mortgage rates, as experts expect.

Reuters - Wall Street greeted the U.S. government's seizure of mortgage giants Fannie Mae and Freddie Mac on Monday, hoping it would provide at least temporary respite from the troubles plaguing housing and credit markets.

Reuters - The Dow and S&P 500 rose on Monday as investors bet Washington's bailout of U.S. home finance companies Fannie Mae and Freddie Mac will stabilize the housing market and ease the credit crisis.

AP - Stocks mostly advanced Monday as investors placed bets that a recovery in the financial and housing sectors is more likely to occur following the U.S. government's move to bail out mortgage giants Fannie Mae and Freddie Mac. The Dow Jones industrials gained more than 150 points but the Nasdaq composite index declined as technology stocks lagged.

Reuters - Financial stocks may rise on Monday after the U.S. government took over troubled mortgage companies Fannie Mae and Freddie Mac , but this may be only a temporary reprieve given the long list of woes banks are currently battling.

AP - President Bush said Sunday that the historic federal government takeover of mortgage giants Fannie Mae and Freddie Mac is needed to keep them from failing, a risk he called "unacceptable" for an economy battered by housing and credit crises.

Reuters - Standard & Poor's and Fitch Ratings on Sunday cut the ratings on preferred stock of troubled housing finance companies Fannie Mae and Freddie Mac to junk status after dividends were eliminated in a takeover by the U.S. government.

Reuters - Stock index futures surged on Sunday, pointing to a sharply higher open when Wall Street opens on Monday, after the U.S. government seized control of troubled mortgage finance companies Fannie Mae and Freddie Mac .

Reuters - Bears have reigned supreme on Wall Street so far in September thanks to growing concern about economies worldwide, but their grip on stocks faces a big challenge after the U.S. government's weekend seizure of control of mortgage finance giants Fannie Mae and Freddie Mac.