Saturday Briefing 08.18.07

Democrats pressed their case for lifting caps on District-based Fannie Mae and McLean-based Freddie Mac, arguing they should be allowed to buy up more mortgages. See story

SEC Chairman Christopher Cox and a D.C. lobbyist were among those whose vacations were cut short due to the turmoil in the markets. See story

The U.S. attorney for the District, Jeffrey A. Taylor, wants lawyers in private firms to help out his offices. Some say it could be a way to train young attorneys at local firms. See story

Lockheed Martin of Bethesda bought privately held 3DSolve of Cary, N.C., which creates training systems for government, military and corporate customers, news services reported. Terms were not disclosed.

AES of Arlington restated some financial results for the first quarters of 2006 and 2007. The net loss for the first quarter of this year was $462 million (68 cents a share) instead of the $455 million (67 cents) previously reported. Profit for the first quarter of 2006 was $342 million (51 cents), compared with the $351 million (52 cents) reported in May 2006. The global power company attributed the revisions primarily to accounting for contract changes at its Pakistani subsidiaries.

By Terri Rupar  |  August 18, 2007; 5:00 AM ET  | Category:  Morning Brief
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