The announcement of a plan to inject billions of dollars in loans and investments was intended to show the government would stand behind the beleaguered companies.
AP - The Federal Reserve and the Treasury announced steps Sunday to shore up mortgage giants Fannie Mae and Freddie Mac, whose shares have plunged as losses from their mortgage holdings threatened their financial survival.
AP - A multi-pronged assault by more than 100 militants on a remote U.S. base close to the Pakistan border killed nine American soldiers and wounded 15 Sunday in the deadliest attack on U.S. forces in Afghanistan in three years, officials said.
The Treasury Department and Federal Reserve on Sunday outlined a comprehensive government plan to prop up Fannie Mae and Freddie Mac, the two mortgage finance giants that own or back $5 trillion in home mortgages.
Sen. Charles Schumer said Sunday the Bush administration is trying to "blame the fire on the person who calls 911" by suggesting he had a role in one of the costliest U.S. bank failures. The New York Democrat also said federal banking regulators missed IndyMac's "reckless" behavior.