AP - Washington Mutual Inc., ravaged by losses from sour mortgages, replaced Kerry Killinger as chief executive of the nation's largest savings and loan on Monday, adding him to the growing list of banking bosses ousted by their boards. Its shares sank almost 22 percent.

AFP - Nationwide Building Society, the second biggest lender of home loans in Britain, said Monday it had agreed to buy two smaller peers struggling to cope with the global credit crunch.

AP - World stock markets soared Monday after Washington announced a bailout of mortgage giants Fannie Mae and Freddie Mac — a move that could help bolster a shaky U.S. housing market and renew global investor confidence.

AFP - Central banks must be on alert for risks from the global credit crisis and the US government bailout of ailing US mortgage giants Fannie Mae and Freddie Mac is welcome in this regard, the Group of 10 said on Monday.

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.