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Government Plans Seizure of Fannie and Freddie
The government informed the two mortgage-finance companies that it is preparing a plan to seize them and place them in a conservatorship, officials and executives said.

U.K. August Home Prices Plunge the Most in 25 Years (Update2)
Sept. 4 (Bloomberg) -- U.K. house prices plunged at the fastest annual pace in at least a quarter century in August as banks withheld finance for new homes and consumers lost confidence in the economy, HBOS Plc said.

One last chance for the Chase
Even though he still has plenty of work to do to earn his spot in the Chase for the Sprint Cup, Clint Bowyer has history on his side.Bowyer picked up the 12th and final spot in last year’s Chase, then got on a roll, winning the Chase’s opening race at New Hampshire and recording a runner-up finish at Kansas in the third race. He wound up coming home third in the season standings.

No. 6 Missouri moves to soft portion of sked
COLUMBIA, Mo. – For Southeast Missouri State, the $250,000 payday will help finance the athletic program. For sixth-ranked Missouri, victory No. 2 is bought and paid for.

Rodney's Olympians given a warm welcome home
Rodney Mayor Penny Webster and Councillors were today joined by representatives from the region's high schools to welcome home and congratulate the district's Olympic competitors for their efforts at last month's Beijing Games.

House prices in double digit fall
UK house prices recorded an annual fall of 10.9% in August leaving the average home costing £174,178, says the Halifax.

Special Reports
Michael Hudson is a former Wall Street economist specializing in the balance of payments and real estate at the Chase Manhattan Bank (now JP Morgan Chase & Co.), Arthur Anderson, and later at the Hudson Institute (no relation).