Capital crunch has loan titans in crisis (San Diego Union-Tribune)
WASHINGTON – The Bush administration yesterday prepared to take over the troubled housing finance companies Fannie Mae and Freddie Mac, after concluding the companies don't have enough capital to continue to play their crucial role funding home mortgages.

State foreclosures hit 5-year high (Anchorage Daily News)
Foreclosures on Alaska single-family houses have hit their highest level in at least five years, according to a recent state report.

Palin mocks Obama; McCain claims nomination (The Daily American)
ST. PAUL, Minn. — Alaska Gov. Sarah Palin claimed her historic spot on the Republican ticket Wednesday night, uncorking a smiling, slashing attack on Barack Obama and vowing to help presidential candidate John McCain bring real change to Washington.

U.S. to take over Fannie and Freddie (The Charlotte Observer)
The Bush administration on Saturday prepared to take over the troubled housing finance companies Fannie Mae and Freddie Mac, after concluding the companies don't have enough capital to continue to play their crucial role funding home mortgages. Under the plan, engineered by Treasury Secretary Henry Paulson, the government would place the two companies under “conservatorship,” a legal status akin ...

Silver State is 11th failed bank this year (Reuters via Yahoo! News)
Silver State Bank, which recently included Republican presidential candidate John McCain's son on its board, was closed by regulators on Friday, becoming the 11th bank to fail this year, as the struggling economy and falling home prices take their toll on financial institutions.