AFP
U.S. National - AFP

People walk by a sign for Freddie Mac headquarters in McLean, Virginia. The unprecedented US takeover of struggling mortgage giants Fannie Mae and Freddie Mac offers hope for an easing of the credit and housing crunch while putting the government's balance sheet on the line, analysts said Monday.(AFP/File/Paul J. Richards)

Fannie, Freddie takeover offers recovery hope: analysts

Mon Sep 8, 10:40 AM ET

WASHINGTON (AFP) - The unprecedented US takeover of struggling mortgage giants Fannie Mae and Freddie Mac offers hope for an easing of the credit and housing crunch while putting the government's balance sheet on the line, analysts said Monday.

  • US Vice President Dick Cheneyhas given his public backing for Sarah Palin -- the Republican party's first female candidate to be vice president.(AFP/File/Robyn Beck)
    Cheney thinks Palin is 'superb' Mon Sep 8, 7:17 AM ET

    ROME (AFP) - US Vice President Dick Cheney on Monday gave his public backing for Sarah Palin -- the Republican party's first female candidate to be vice president.

  • A man wearing a waistcoast covered with election badges. The US presidential election has moved into high gear as two new opinion polls showed Republican John McCain taking the lead over Democratic rival Barack Obama.(AFP/Getty Images/File/Justin Sullivan)
    US campaign sharpens as McCain takes poll lead 2 hours, 39 minutes ago

    KANSAS CITY, Missouri (AFP) - The US presidential campaign moved into high gear Monday as two opinion polls showed Republican John McCain taking the lead over Democratic rival Barack Obama just eight weeks from election day.

  • O.J. Simpson, seen in 2007, appears during his preliminary hearing at the Clark County Regional Justice Center in Las Vegas, Nevada. Thirteen years after his acquittal in one of the most publicized murder cases in American history, former football great Simpson returns to court here Monday for jury selection in a robbery and kidnapping case that could send him to prison for life.(AFP/POOL/File/John Locher)
    O.J. revisited as Simpson faces robbery, kidnap trial Mon Sep 8, 3:32 AM ET

    LAS VEGAS, Nevada (AFP) - Thirteen years after his acquittal in one of the most publicized murder cases in American history, former football great O.J. Simpson returns to court here Monday for jury selection in a robbery and kidnapping case that could send him to prison for life.

  • Actress Fran Drescher attends Stand Up To Cancer at the Kodak Theatre on September 5, 2008 in Hollywood, California. "Nanny" star Fran Drescher, a cancer survivor, advocate of female empowerment and opponent of abortion legislation, was named Monday as a new US public diplomacy envoy.(AFP/Getty Images/File/Getty Images)
    'Nanny' star, pro-choice advocate named US public envoy 31 minutes ago

    WASHINGTON (AFP) - "Nanny" star Fran Drescher, a cancer survivor, advocate of female empowerment and opponent of abortion legislation, was named Monday as a new US public diplomacy envoy.

  • A ConocoPhillips petrol station in Pasadena, California. The US oil giant has agreed to pay up to US$9.6 billion for a half stake in a natural gas project owned by Origin Energy in Australia, the companies have said.(AFP/Getty Images/File/David Mcnew)
    ConocoPhillips to pay 9.6 bln dlrs for stake in Origin gas scheme Mon Sep 8, 8:07 AM ET

    SYDNEY (AFP) - Oil giant ConocoPhillips will pay up to 9.6 billion dollars (eight billion US) for a half share in a natural gas project owned by Origin Energy in Australia, the companies said Monday.

  • US tobacco giant Altria Group said Monday it would buy UST, owner of smokeless tobacco brands Skoal and Copenhagen and a wine company, in a cash-and-debt deal worth 11.7 billion dollars.(AFP/HO-Altria)
    Altria to buy smokeless tobacco firm UST for 11.7 bln dlrs Mon Sep 8, 10:21 AM ET

    WASHINGTON (AFP) - US tobacco giant Altria Group said Monday it would buy UST, owner of smokeless tobacco brands Skoal and Copenhagen and a wine company, in a cash-and-debt deal worth 11.7 billion dollars.

  • American veteran Bobby Julich, seen here in February 2007, a former podium finisher at the Tour de France, has announced the end to his 15-year professional career.(AFP/Getty Images/File/Doug Pensinger)
    American cyclist Julich retires 2 hours, 59 minutes ago

    PARIS (AFP) - American veteran Bobby Julich, a former podium finisher at the Tour de France, has announced the end to his 15-year professional career.

  • American Serena Williams defeated second seed Jelena Jankovic 6-4, 7-5 in the women's US Open final for her ninth career Grand Slam title and the world number one ranking(AFP/Don Emmert)
    Double glory for newly-crowned US Open champ Williams Mon Sep 8, 8:15 AM ET

    NEW YORK (AFP) - American Serena Williams defeated second seed Jelena Jankovic 6-4, 7-5 in the women's US Open final Sunday for her ninth career Grand Slam title and the world number one ranking.

  • Columbia Pictures will be spinning two new episodes of the successful, and very lucrative, Spider-Man movies with actor Tobey Maguire, seen here in August 2008, returning in the starring role, an industry magazine reported Monday.(AFP/Getty Images/File)
    Spider-man studio spinning two more sequels: report 40 minutes ago

    LOS ANGELES (AFP) - Columbia Pictures will be spinning two new episodes of the successful, and very lucrative, Spider-Man movies with actor Tobey Maguire returning in the starring role, an industry magazine reported Monday.

  • The Fannie Mae headquarters in Washington, DC, July 2008. The US governmenthas taken control of mortgage giants Fannie Mae and Freddie Mac, placing them in a government "conservatorship" to help the financial system recover from massive housing losses, officials said.(AFP/File/Karen Bleier)
    US takes over Fannie, Freddie in bid to ease finance crisis Sun Sep 7, 7:39 PM ET

    WASHINGTON (AFP) - The US government took over ailing mortgage giants Fannie Mae and Freddie Mac on Sunday and placed them in a "conservatorship" in a bid to avert a financial system meltdown from the housing crisis.

  • US Democratic presidential candidate Barack Obama speaks during a town hall meeting in Terre Haute, Indiana. The US presidential election moved into high gear Monday as two new opinion polls showed Republican John McCain taking the lead over Obama.(AFP/File/Saul Loeb)
    Obama, McCain duel as race heads into home stretch Sun Sep 7, 5:00 PM ET

    WASHINGTON (AFP) - Barack Obama and John McCain feuded and laid claim to being the authentic candidate of change and reform on Sunday, as their White House showdown roared into a frenetic eight-week final stretch.

  • NASA GOES satellite image shows Hurricane Ike. Boarding up windows and battening down everything else, residents of south Florida turned a wary eye to deadly Hurricane Ike Sunday as it tore into the Caribbean.(AFP/NASA-HO)
    Storm-battered Florida gets ready for Ike Sun Sep 7, 4:38 PM ET

    KEY WEST, Florida (AFP) - Boarding up windows and battening down everything else, residents of south Florida turned a wary eye to deadly Hurricane Ike Sunday as it tore into the Caribbean.

  • Workers at Ground Zero work take photos as the first beam for the future 9/11 memorial is raised into place on September 2, 2008 in New York. Seven years after the September 11 attacks on the United States, few are the signs of rebirth at the site in lower Manhattan where the twin towers of the World Trade Center once stood.(AFP/Getty Images/File/Chris Hondros)
    Red tape, greenbacks hold up reconstruction at Ground Zero Sun Sep 7, 1:30 PM ET

    NEW YORK (AFP) - Seven years after the September 11 attacks on the United States, few are the signs of rebirth at the site in lower Manhattan where the twin towers of the World Trade Center once stood.

  • Republican presidential candidate John McCain, his running mate Alaska Governor Sarah Palin and Palin's husband Todd (L) board the campaign airplane in Albuquerque, New Mexico enroute to Kansas City, Missouri. Sarah Palin may be drawing bigger cheers than her running mate, but John McCain isn't bothered in the least, a senior advisor said Sunday.(AFP/Robyn Beck)
    McCain 'excited' by response to Palin: advisor Sun Sep 7, 7:00 PM ET

    KANSAS CITY, Missouri (AFP) - Republican vice presidential hopeful Sarah Palin may be drawing bigger cheers than her running mate, but John McCain isn't bothered in the least, a senior advisor said Sunday.

  • Republican vice presidential candidate Alaska Governor Sarah Palin applauds during the speech by her running mate John McCain (L) at a campaign event in Colorado Springs, Colorado on September 6, 2008. However much executive experience Palin has gained from her 21 months as Alaska governor, it is unlike that of any chief executive in the 50 US states.(AFP/File/Robyn Beck)
    Oil wealth masks challenges facing Alaska economy Sun Sep 7, 1:08 PM ET

    JUNEAU, Alaska (AFP) - However much executive experience Republican vice presidential pick Sarah Palin has gained from her 21 months as Alaska governor, it is unlike that of any chief executive in the 50 US states.

  • A logo of General Motors. Battered by weak sales, declining market share and miserable credit ratings, Detroit's Big Three automakers are now turning to the US government for help.(AFP/File/Stan Honda)
    Detroit's sputtering Big Three turn to Washington for help Sun Sep 7, 12:13 AM ET

    DETROIT (AFP) - Battered by weak sales, declining market share and miserable credit ratings, Detroit's Big Three automakers are now turning to the US government for help.

  • Andy Murray of Great Britian returns a shot during his semi-final match to Rafael Nadal of Spain at the US Open tennis tournament at the USTA National Tennis Center in New York City. Murray won 6-2, 7-6 (7/5), 4-6, 6-4.(AFP/Timothy A. Clary)
    Murray stuns Nadal to book US Open final against Federer Sun Sep 7, 6:38 PM ET

    NEW YORK (AFP) - Britain's Andy Murray advanced to his first Grand Slam final by stunning world number one Rafael Nadal on Sunday in a US Open semi-final, booking a date with reigning champion Roger Federer on Monday.

  • Quarterback Tom Brady of the New England Patriots is helped off the field by trainers after he was injured in the first quarter against the Kansas City Chiefs at Gillette Stadium in Foxboro, Massachusetts. Brady injured his knee and left the New England Patriots season-opening game in the first quarter on Sunday.(AFP/Getty Images/Elsa)
    New England QB Brady injures knee Sun Sep 7, 7:03 PM ET

    FOXBOROUGH, Massachusetts (AFP) - National Football League star quarterback Tom Brady injured his knee and left the New England Patriots season-opening game in the first quarter on Sunday.

  • Republican presidential candidate John McCain (C-R) watches as running mate Sarah Palin (C-L) holds an ice hockey jersey given to her as a gift during a campaign event in Michigan on September 5, 2008. Presidential hopefuls Barack Obama and McCain worked to woo voters in key battleground states Saturday, highlighting their personal histories while stressing the sharp differences in their policies.(AFP/File/Robyn Beck)
    McCain, Obama battle over economy, leadership Sat Sep 6, 3:03 PM ET

    COLORADO SPRINGS, Colorado (AFP) - Economic issues dominated the campaign trail Saturday as presidential hopefuls Barack Obama and John McCain battled over who could best lead the nation in troubled times.

  • A crew member from North Carolina Department of Transportation removes a tree downed by Tropical Storm Hanna in Wilmington, North Carolina. Tropical Storm Hanna barreled across the southeastern United States on Saturday, battering the coast with waves, rain and wind and prompting thousands of people to seek refuge inland.(AFP/Getty Images/Logan Mock-Bunting)
    Hanna hits US coast with Hurricane Ike looming Sat Sep 6, 3:32 PM ET

    MIAMI (AFP) - Tropical Storm Hanna raced across the southeastern United States on Saturday, battering the coast with powerful waves, rain and wind as Florida and Cuba kept a wary eye on a dangerous hurricane.

  • People walk out of a job center in the Brooklyn borough of New York City on September 5, 2008. The jump in US unemployment to a five-year high has heightened worries about recession and puts the struggling economy into sharp focus two months ahead of the presidential vote, analysts said.(AFP/Getty Images/File/Spencer Platt)
    Rise in unemployment shifts election debate Sat Sep 6, 11:54 AM ET

    WASHINGTON (AFP) - The jump in US unemployment to a five-year high has heightened worries about recession and puts the struggling economy into sharp focus two months ahead of the presidential vote, analysts said.

  • US Senator Edward Kennedy. US scientists have unveiled the most complete genetic profile ever attempted of glioblastoma, a common and deadly form of the brain cancer that Kennedy is battling.(AFP/File/Paul J. Richards)
    Genome analysis used to decode brain cancer: study Sat Sep 6, 12:07 PM ET

    PARIS (AFP) - US scientists have unveiled the most complete genetic profile ever attempted of glioblastoma, a common and deadly form of the brain cancer that US Senator Edward Kennedy is battling.

  • Republican US presidential nominee John McCain pauses while addressing the Republican National Convention on September 4, 2008 in St. Paul, Minnesota. McCain earned a record 38.9 million television viewers during his convention speech, edging his rival Barack Obama's record from the previous week, the Nielsen group reported Friday.(AFP/Getty Images/File/Justin Sullivan)
    McCain speech viewership eclipses Obama's: Nielsen Sat Sep 6, 11:31 AM ET

    WASHINGTON (AFP) - Republican White House nominee John McCain earned a record 38.9 million television viewers during his convention speech, edging his rival Barack Obama's record from the previous week, the Nielsen group reported Friday.

  • The Fannie Mae headquarters in Washington, DC, July 2008. The US governmenthas taken control of mortgage giants Fannie Mae and Freddie Mac, placing them in a government "conservatorship" to help the financial system recover from massive housing losses, officials said.(AFP/File/Karen Bleier)
    McCain backs government takeover of mortgage giants Sat Sep 6, 7:34 PM ET

    ALBUQUERQUE, New Mexico (AFP) - Republican presidential hopeful John McCain backed a government takeover of two mortgage giants Saturday while his Democratic rival warned that taxpayers should not bail out their shareholders.

  • Boeing machinist Phon Duangsouvanh mans the picket line outside Boeing's plant in Everett, Washington. Boeing machinists took to the picket line on Saturday as they launched a strike that has halted production and could cost the US aerospace giant more than 100 million dollars per day.(AFP/Getty Images/Robert Giroux)
    Boeing machinists strike after talks collapse Sat Sep 6, 4:42 PM ET

    NEW YORK (AFP) - Boeing machinists took to the picket line on Saturday as they launched a strike that has halted production and could cost the US aerospace giant more than 100 million dollars per day.

  • Camilo Villegas lines up a birdie putt on the 4th hole during the second round of the BMW Championship held at Bellerive Country Club in St. Louis, Missouri. Villegas fired a four-under par 66 Saturday and clung to a one-stroke lead after the second round of the seven million-dollar PGA BMW Championship.(AFP/Getty Images/Marc Feldman)
    Villegas clings to PGA lead Sat Sep 6, 5:47 PM ET

    ST. LOUIS, Missouri (AFP) - Colombia's Camilo Villegas fired a four-under par 66 Saturday and clung to a one-stroke lead after the second round of the seven million-dollar PGA BMW Championship.

  • Novak Djokovic of Serbia reacts during his semi-final match against Roger Federer of Switzerland at the US Open tennis tournament at the USTA National Tennis Center in New York City. Federer fired 20 aces and advanced to the US Open final with a 6-3, 5-7, 7-5, 6-2 victory over Djokovic on Saturday.(AFP/Timothy A. Clary)
    Federer set for Monday US Open final as Murray, Nadal wait Sat Sep 6, 5:27 PM ET

    NEW YORK (AFP) - Roger Federer moved within one victory of his fifth consecutive US Open title Saturday, firing 20 aces to overpower Serbian third seed Novak Djokovic 6-3, 5-7, 7-5, 6-2.

  • Aimee Gromowsky sits in the stands of the open-air Invesco field at the Democratic National Convention 2008 in Denver, Colorado, in August 2008. American conventions perhaps have to be experienced to be believed. Anyone expecting a real debate about the serious issues facing the country would probably have been disappointed.(AFP/File/Robyn Beck)
    Red, white and moose: a contrast in conventions Sat Sep 6, 11:48 AM ET

    ST PAUL, Minnesota (AFP) - In two breath-taking, intoxicating, adrenaline-fueled weeks history was made in the United States and the country's political landscape redrawn forever.