Bailout brings lower mortgage rates, but not housing rebound

Date: Mon, 08 Sep 2008 17:04:08 -0400
Bailout brings lower mortgage rates, but not housing rebound

Mortgage rates fell Monday on news of a Treasury-led bailout of mortgage
giants Fannie and Freddie Mac, but observers warned not to expect lower
borrowing costs to suddenly revive the troubled housing market.

Financial Stocks: Financial stocks post solid gains

Shares of U.S. financial stocks rally strongly, leading the broader
equities market higher, in reaction to the government's weekend move to
take control of mortgage giants Fannie Mae and Freddie Mac.

Lehman mulling plan to split in two: report

Lehman Brothers is reportedly considering a plan to rid itself of debt
tied to bad commercial mortgages by splitting itself into two
separately-listed companies.

FundWatch: J.C. Penney vote exposes rift in how funds see shareholder
rights

NEW YORK
A shareholder vote to re-elect the board of directors at J.C. Penney Co.
highlights the stark differences in how mutual fund managers approach
the issue of proxy voting.

LSE trading was halted for nearly seven hours

Connectivity problems with brokers led the London Stock Exchange to halt
trading for much of the day Monday, while rival exchanges benefited from
heavy trading volumes in the financial sector.