Reuters - Fannie Mae and Freddie Mac shares plunged to their lowest levels in almost 20 years on Wednesday, while the mortgage companies' bonds rallied on the belief that an increasingly likely government bailout would wipe out shareholders but secure their massive debt.

AP - Investors are betting that time is running out for Fannie Mae and Freddie Mac.

AFP - US mortgage finance giants Fannie Mae and Freddie Mac saw their share prices plummet Wednesday amid heightened concerns about their ability to ride out the credit crisis without government help.

Reuters - Thousands of homeowners with distressed mortgage loans linked to failed lender IndyMac may soon be able to avoid foreclosure under a program announced on Wednesday by U.S. banking regulators.

AP - Sen. Joe Biden has emerged as the favorite among Democrats to be Barack Obama's running mate for his understanding of foreign policy in grave global times and his fighting spirit against the rival Republican ticket.

AP - Democratic U.S. Rep. Stephanie Tubbs Jones, the first black woman to represent Ohio in Congress and a strong critic of the Iraq war, died Wednesday after a brain hemorrhage, a hospital spokeswoman said.

AP - A jetliner heading to the popular Canary Islands vacation resort crashed during takeoff Wednesday, turning a wooded area off the end of a runway into a hellish scene of charred bodies and smoldering wreckage. Some 153 were believed dead — Spain's worst air disaster in nearly 25 years.

AP - Iraqi and U.S. negotiators have completed a draft security agreement that would see American troops leave Iraqi cities as soon as June 30, Iraqi and American officials told The Associated Press on Wednesday.

AP - Arms churning high, face twisted in pain as he sprinted toward the finish line, Usain Bolt kept glancing at the clock. The win in the Olympic 200 meters was a given, his second gold medal of the Beijing Games assured. This was now about a world record. About racing against history.

AP - Republican presidential candidate John McCain chided his Democratic rival on Wednesday for getting "a little testy" as Barack Obama sharpened his tone amid a tightening White House race.

AP - Matt Damon's wife Luciana gave birth to a baby girl Wednesday, his spokeswoman said. The baby's name is Gia Zavala Damon, spokeswoman Jennifer Allen told The Associated Press, adding: "Everyone is great and she is a healthy, beautiful baby girl."

AP - Baseball umpires and management signed an agreement Wednesday that will allow the sport to start using instant replay to help determine calls on the field. Major League Baseball still hasn't determined when the use of replays will start.