Housing Package Deal Reached
House and Senate leaders have largely hammered out a compromise deal on a mammoth housing package that would permit the government to bolster Fannie Mae and Freddie Mac in an emergency, overhaul supervision of the housing-finance giants and allow the government to insure up to $300 billion in refinanced mortgages.
Banks Post Losses, Their Stocks Soar
Five big lenders led by Wachovia and WaMu reported combined quarterly losses of more than $11 billion. But their shares jumped an average of 14% on rising hopes that battered bank stocks have fallen about as low as they can go.
Gambling on Facebook Games, Zynga Cashes In
Zynga Game Network, which makes free poker, puzzle and other games for social-networking Web sites, has attracted backing from heavyweight investor Kleiner Perkins Caufield & Byers.
Lender-Liability Suits Rise
Lenders are triggering lawsuits from builders as they clamp down on construction financing. The disputes are turning heated as banks go after the builders' personal assets to recoup losses from soured housing developments.
Electronic Arts Hires United Talent Agency
Electronic Arts said it has retained Hollywood's United Talent Agency to help turn EA's videogames into movies and television shows.
