Archive for July 7th, 2008

Shares of mortgage financing giants Fannie Mae and Freddie Mac both plunged Monday after an analyst with Lehman Brothers wrote in a report that the two companies may need to raise much more capital if accounting rules are changed.

Most Americans still think the economy is in a recession, but the number who feel that way has declined, according to a CNN/Opinion Research Corporation poll released Monday.

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Falling stock markets around the globe and the credit crunch are putting the pension funds of some of the largest U.S. companies into deeper financial holes, according to a report released Monday.

Oil prices, after hitting a record high last week, fell more than $5 a barrel Monday as the dollar gained strength and traders reacted to an apparent easing of Mideast tensions.

Shares of mortgage financing giants Fannie Mae and Freddie Mac both plunged Monday as fears deepened about the credit crisis and housing meltdown.

A Wall Street selloff, led by financial shares and a 20% plummet in the shares of both Fannie Mae and Freddie Mac, accelerated Monday and pulled all three major indexes into bear market territory.

As we learn that the U.S. has lost 438,000 jobs since January, we're also hearing about a winner in the downturn: business schools.

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