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Government not expected to help more companies
Summary from United States, from articles in English
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Even as the Bush administration moved to rescue the nation's two largest mortgage finance companies, confidence in the banking sector spiraled downward Monday. (article 1)
Confidence in some of the largest regional US banks buckled on Monday as the government's rescue plan for mortgage giants Fannie Mae and Freddie Mac failed to allay equity markets' fears over the stability of the broader financial sector. (article 3)
Stocks in banks including Washington Mutual, the seventh-largest US bank by assets, and Cleveland's National City, plunged as investors reacted to Friday's collapse of IndyMac, a smaller lender (article 3)
As home prices continue to decline and loan defaults mount, federal regulators are bracing for dozens of American banks to fail over the next year. (article 2)
The troubles are growing so rapidly at some small and midsize banks that as many as 150 out of the 7,500 banks nationwide could fail over the next 12 to 18 months, analysts say. (article 2)
Friday, as investors tried to assess the health of the mortgage financiers, the Dow Jones industrial average dropped below 11,000 for the first time in nearly two years, and the overall market was left with its fourth straight weekly loss. (article 4)
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Other stories about Freddie, Fannie and mortgage:
Event tracking:
Story keywords
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Freddie, Fannie, mortgage, companies, Mac |
Source articles
- Confidence Ebbs for Bank Sector and Stocks Fall (nytimes.com, 07/15/2008, 1258 words)
- Analysts Say More Banks Will Fail (nytimes.com, 07/14/2008, 856 words)
- US bail-out fails to calm nerves (ft.com, 07/14/2008, 67 words)
- Government not expected to help more companies (boston.com, 07/14/2008, 539 words)
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blaster@cs.columbia.edu
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