Archive for July 14th, 2008

The Federal Reserve unanimously approved new mortgage lending rules Monday in a crackdown on shady practices - particularly subprime loans made to borrowers with weak credit.

Read full story for latest details.

Stocks slipped Monday afternoon, led by techs and banks, as investors welcomed the government's plan to rescue Fannie Mae and Freddie Mac, but remained spooked by the outlook for financial markets.

Shares of Freddie Mac and Fannie Mae saw early gains evaporate Monday as investors showed they were not convinced that government support will be enough to prop up the battered mortgage giants.

Shares of Washington Mutual and National City both plunged Monday as fears grew about the credit crisis plaguing big banks.

If this weekend's news about Fannie Mae and Freddie Mac and Friday's IndyMac failure weren't scary enough, now Wall Street will have to contend with what is likely to be dismal quarterly results from many top financial firms.

Shares of Washington Mutual and National City both plunged Monday as fears grew about the credit crisis plaguing big banks.

What may be the world's busiest grocery store is a Carrefour "hypermarket" in the Gubei area of Shanghai's Changning District.