Reuters - Stocks plunged on Monday as the U.S. House of Representatives rejected a $700 billion financial sector bailout plan, renewing fear about frozen world credit markets and the global economy's health.

Reuters - Fannie Mae and Freddie Mac, the U.S. mortgage finance giants that were taken over by the government this month, said on Monday they were subpoenaed for documents as part of a federal grand jury investigation into their accounting.

AP - Adding to their woes, mortgage finance giants Fannie Mac and Freddie Mac are facing a federal grand jury investigation into their accounting practices.

Reuters - U.S. lawmakers rejected a $700 billion bailout plan for the financial industry in a shock vote that sent global markets sliding as the world credit crisis claimed more banks.

Reuters - Britain's government will nationalize troubled mortgage lender Bradford & Bingley and is discussing the sale of its savings book and branches, people in the banking industry familiar with the matter said.

AFP - Germany's Hypo Real Estate, a mortgage bank, is on the brink of bankruptcy, the daily Financial Times Deutschland reported in an advance copy of its Monday edition.

AP - Sold to American taxpayers for up to $700 billion: an unprecedented plan to buy distressed banks' least desirable mortgage assets.

Reuters - Britain's government will nationalize troubled mortgage lender Bradford & Bingley and is discussing the sale of its savings book and branches, people in the banking industry familiar with the matter said.

AP - Nervously eyeing the markets' next trading session, congressional Democrats and Republican senators pushed for an agreement Saturday on a multibillion-dollar bailout for the financial sector.

Reuters - Britain will nationalize troubled mortgage lender Bradford & Bingley , the BBC reported on Saturday, but the government said discussions on the bank's future were still going on.

AP - Congressional leaders said Saturday they hoped to reach an agreement on a multibillion-dollar bailout plan for the financial sector before the markets open Monday, even if House and Senate votes would come later.

Reuters - Wachovia Corp and National City Corp shares tumbled as talks on a $700 billion government bailout of the financial sector stalled and regulators seized Washington Mutual Inc .

AFP - The Australian government announced Friday it would invest four billion dollars (3.32 billion US dollars) in the mortgage market in response to the global credit crunch.