Reuters - Democratic presidential contender Barack Obama on Tuesday denounced the possibility of rich exit pay packets for the outgoing chiefs of Fannie Mae and Freddie Mac as lawmakers weighed how to restructure the seized mortgage finance companies.

AFP - The dollar weakened against other major currencies Tuesday as investors worried about the health of the US economy after the nationalization of two mortgage finance giants over the weekend.

AFP - European stock markets held steady at the opening of trade on Tuesday following surges the day before caused by the US bailout of former mortgage titans Fannie Mae and Freddie Mac.

Reuters - The U.S. government's move to take control of Fannie Mae and Freddie Mac will help shore up the housing market, the banking system and the wider economy, a senior International Monetary Fund official said on Tuesday.

AFP - The world's largest reinsurer, Swiss Re, is out of danger from major exposure to the subprime mortgage crisis, the group's chief executive Jacques Aigrain said in remarks published Tuesday.

AP - Treasury Secretary Henry Paulson said Congress should view the next few months as a "time out" in the highly charged debate over what to do with mortgage giants Fannie Mae and Freddie Mac.

Reuters - Stocks extended their sharp losses on Tuesday and the S&P 500 fell more than 2 percent after Standard & Poor's said it may cut credit ratings of Lehman Brothers Holdings.

Reuters - Two U.S. Democratic senators on Tuesday called on regulators to revise severance packages for the outgoing chief executives of Fannie Mae and Freddie Mac, calling them lavish.

AFP - The dollar was lower in late trade Tuesday as players took profits on sharp gains made after the US government bailed out two key mortgage backers, helping ease concerns about the economic outlook.