The stock market lost over 200 pts to end the week on disappointing news from GE. There are still a number of concerns that the U.S. economy and housing market will fall further and major financial stocks have been losing significant value. Two of the nations largest regional banks have both announced they will raise over five billion dollars each in exchange for common stock at around eighty percent of their previous traded price. Wachovia and Washington Mutual have both needed additional capital to help re-balance their capital ratios. Both firms are under stress from under performing mortgage portfolios and a real estate market that continues to decline.

4-14-2008 ©LowRateMortgage.com

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