Europe Markets: European shares surge on U.S. mortgage rescue plan (Market Watch)
European shares surged at the start on Monday, with financials and commodity stocks shooting higher, after the U.S. government bailed out home mortgage giants Fannie Mae and Freddie Mac.
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Mortgage Bonds May Rally, Rates Fall on Treasury Grab (Update1) (Bloomberg.com)
Sept. 8 (Bloomberg) -- Mortgage bonds guaranteed by Fannie Mae and Freddie Mac may rally, helping reduce home-loan rates, after the U.S. government seized control of the companies and vowed to shore up demand.
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Mortgage giants seized (Akron Beacon Journal)
WASHINGTON: In the biggest government bailout in U.S. history, the Treasury said Sunday that regulators are seizing control of home mortgage giants Fannie Mae and Freddie Mac.
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US government takes over mortgage giants Fannie, Freddie (New Kerala)
Washington, Sep 8 : The US government seized control of Fannie Mae and Freddie Mac Sunday, seeking to deflect the rising threat of surging mortgage defaults that were poised to topple the two companies that manage about half of the US home loan market.
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US Government seizes control of mortgage giants Fannie Mae and Freddie Mac (Minneapolis-St. Paul Star Tribune)
Huge potential liabilities facing each mortgage company, as a result of soaring defaults, could cost taxpayers tens of billions of dollars.
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US Government takes over mortgage giants (AP via Yahoo! News)
The Bush administration's seizure of troubled mortgage giants Fannie Mae and Freddie Mac is potentially a $200 billion bet that it will help reverse a prolonged housing and credit crisis.
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China and Japan hail U.S. mortgage rescue as doubts linger (Reuters via Yahoo! News)
China and Japan, the biggest buyers of Freddie Mac and Fannie Mae bonds, praised Washington for its rescue of the ailing mortgage giants, but investors had no illusions the bailout would end the global credit market misery.
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Mortgage giants in government takeover (USA Today)
Federal officials said Sunday that they will take control of beleaguered mortgage giants Fannie Mae and Freddie Mac in the government's most aggressive move to stabilize a financial industry reeling from a year-old mortgage and credit crisis.
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Bush Praises Federal Control of Mortgage Lenders (The New York Sun)
WASHINGTON — President Bush said today 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. "Allowing the companies to fail or further deteriorate would damage our home mortgage market, and could weaken other credit markets that are ...
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China and Japan hail U.S. mortgage bailout as doubts linger (Reuters via Yahoo! News)
China and Japan, the biggest buyers of Freddie Mac and Fannie Mae bonds, praised Washington for its rescue of the ailing mortgage giants, but investors harbored no illusions the bailout would end the global credit market misery.
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