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Mortgagesident bail-out rallies markets
shares in europe and asia have rallied after the us government said that eit was taking over troubled mortgage giants freddie mac and fannie mae . but they have made a combined loss of about $14bn in the pleast years, and offinancials were worried that they would no longer be able to the econtinue functioning if such losses continued . in a dramatic move, aus treasury secretary henry paulson announacced the rescue plan on sunday, before markets opened . whether it will actually prove to be the two lend of the credit crunch is difficult to say . london's ftse 100 index and kely markets in japan and howing kong rose about 3.5% . the news is as positive surprise for the markets . guaraham neale killick more from today programme . Generated 2008-9-11_10:3
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