Latest News

  • Lockhart's statement on Fannie, Freddie
    Category: Business    Publish Date: 09-07-2008 09:30 AM -0700
    The following is the statement by James Lockhart, director of the Office of Federal Housing Enterprise Oversight, who will head the Federal Housing Finance Agency being created to oversee mortgage...[more]


  • Government takes over embattled Fannie, Freddie
    Category: Business    Publish Date: 09-07-2008 08:59 AM -0700
    WASHINGTON (Reuters) - The U.S. government on Sunday seized control of mortgage finance companies Fannie Mae and Freddie Mac in an aggressive move to help the distressed U.S. housing market and...[more]


  • Battered stocks face another tough week
    Category: Business    Publish Date: 09-07-2008 08:56 AM -0700
    NEW YORK (Reuters) - The bears have been in firm control on Wall Street so far in September, and with anxiety about the health of the United States and world economies on the rise, they probably...[more]


  • U.S. seizes Fannie and Freddie
    Category: Business    Publish Date: 09-07-2008 08:55 AM -0700
    Federal officials unveiled an extraordinary takeover on Sunday of troubled mortgage giants Fannie Mae and Freddie Mac, signaling the most dramatic move to date aimed at shoring up the nation's...[more]


  • Paulson's announcement on Fannie, Freddie
    Category: Business    Publish Date: 09-07-2008 08:53 AM -0700
    Here is the statement by Treasury Secretary Henry Paulson on Treasury and Federal Housing Finance Agency action to protect financial markets and taxpayers: [more]


  • Dollar resurgence and emerging decline
    Category: Business    Publish Date: 09-07-2008 08:41 AM -0700
    LONDON (Reuters) - Investors are likely to be wrestling this week with two new factors that have arisen to complicate an already tricky environment -- a sharp about-face in currency trading and...[more]


  • Fannie, Freddie taken over by government, executives replaced
    Category: Business    Publish Date: 09-07-2008 08:40 AM -0700
    The Bush administration, acting to avert the potential for major financial turmoil, announced Sunday that the federal government was taking control of mortgage giants Fannie Mae and Freddie Mac. [more]


  • Government takes control of Fannie, Freddie
    Category: Business    Publish Date: 09-07-2008 08:39 AM -0700
    The U.S. government announced on Sunday that it was taking control of troubled mortgage finance giants Fannie Mae and Freddie Mac, effectively wiping out shareholders' interest in the publicly...[more]


  • Paulson readies the 'bazooka'
    Category: Business    Publish Date: 09-07-2008 06:56 AM -0700
    It took two months, but the bond market called Henry Paulson's bluff. Now the Treasury Secretary is expected Sunday to announce a plan to take Fannie Mae and Freddie Mac under government control. [more]


  • Boeing machinists walk off the job as talks fail
    Category: Business    Publish Date: 09-07-2008 01:53 AM -0700
    NEW YORK/EVERETT, Washington (Reuters) - Boeing Co's 27,000-strong machinists' union walked off the job on Saturday after the plane maker failed to improve its contract offer following two days of...[more]


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