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North Carolina County to Buy Flood-damaged Homes  Mecklenburg County, N.C. could spend more than $4 million to buy as many as 50 homes that suffered serious flood damage after Tropical Storm Fay and other storms. The Charlotte Observer reported S

Bush sends Wall St. proposal to Congress  Lawmakers pore over draft of rescue plan as hurdles start emerging The Bush administration formally asked Congress yesterday to grant sweeping new powers to the Treasury secretary to buy as much as $700 billion in deeply troubled mortgage-related assets as part of a Herculean effort to clean up Wall Street's financial crisis.

NC county to buy flood-damaged homes  Mecklenburg County could spend more than $4 million to buy as many as 50 homes that suffered serious flood damage after Tropical Storm Fay and other storms. The Charlotte Observer reported Wednesday the voluntary program would be limited to homes damaged in floods on Aug. 27, after Fay drenched the Charlotte area, or Sept. 10. The homes also must be prone to future flooding. Melba Adams has one ...

Treasury Seeks Authority to Buy Mortgages Unchecked by Courts   Sept. 21 -- The Bush administration sought unchecked power from Congress to buy $700 billion in bad mortgage investments from financial companies in what would be an unprecedented government intrusion into the markets.

Treasury Seeks Authority to Buy $700 Billion Assets   Sept. 20 -- The Bush administration asked Congress for unchecked power to buy $700 billion in bad mortgage investments from U.S. financial companies in what would be an unprecedented government intrusion into the markets.

Valley bargain-hunters buy homes  The 525 existing houses sold in Fresno and Clovis in August represented the first time in three years that more than 500 homes were sold for three consecutive months, the president of the Fresno Association of Realtors reported Thursday. Read comments

Bush lays out $700 billion rescue plan  WASHINGTON��The Bush administration yesterday formally proposed to Congress what could become the largest financial bailout in U.S. history, requesting virtually unfettered authority for the Treasury to buy up to $700 billion in mortgage-related assets from financial institutions based in the United States.

Bush defends bad debt plan  US President George W Bush has defended his administration's $800bn package to rescue the country's beleaguered financial sector. The US Treasury is proposing a fund to buy back a large proportion of the bad debt in the US mortgage market.

Rescue plan seeks $700B to buy bad mortgages   The Bush administration is asking Congress to let the government buy $700 billion in toxic mortgages in the largest financial bailout since the Great Depression, according to a draft of the plan obtained Saturday by The Associated Press.

Treasury Seeks Authority to Buy $700 Billon in Assets   Sept. 20 -- The U.S. Treasury today asked Congress for authority to buy as much as $700 billion in soured mortgage-related assets from the nation's financial institutions in the most far-reaching federal intrusion into markets since the Great Depression.