Archive for May 7th, 2008

The House on Wednesday will begin debate on a housing package that would let the government back loans for homeowners at risk of foreclosure - a move many Republicans have opposed and which the White House has threatened to veto.

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Mortgage financing giants Fannie Mae and Freddie Mac could face further problems if home prices continue to plummet, according to the chief federal regulatory agency charged with overseeing the two firms. But a taxpayer bailout is not likely, he said.

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WiMax hopes were revived Wednesday morning, and once again the wireless broadband opportunity is huge - in more ways than one. The big buzz around the wealth of mobile Net potential is almost overshadowed by the massive tab that even six tech giants can't fully cover.

Stocks slumped Wednesday, with the Dow losing over 200 points, as oil prices crossed the $123 a barrel mark, giving investors a reason to pull back after the recent rally.

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Stock declines accelerated Wednesday afternoon as record-high oil prices above $123 a barrel, Cisco's conservative outlook and another bleak housing market report gave investors a reason to retreat after the recent advance.