Shares of Fannie Mae and Freddie Mac plummeted 13 and 22 percent, respectively, on Thursday. The government is considering a massive bailout or takeover, calling the mortgage financers too important to fail.
Toyota announced that it will manufacture Prius hybrids in the United States, beginning in 2010 at a plant in Mississippi. It also said it would suspend U.S. production of trucks and SUVs for three months in response to a decline in sales.
Luis Moreno-Ocampo, chief prosecutor of the International Criminal Court, is expected to seek an arrest warrant for Sudanese President Omar al-Bashir on Monday, charging him with genocide and crimes against humanity.
A picture found on Iranian news Web site Jamejam suggests that Iran shot off only three missiles Wednesday, despite releasing a photo showing a fourth missile. Experts believe that Iran doctored the photograph to include the fourth missile, which had failed to launch.
The Senate confirmed Gen. David Petraeus chief of U.S. Central Command in a 95-2 vote, with only Robert Byrd and Tom Harkin voting against him. Petraeus will take control of American forces in the Middle East.
California Gov. Arnold Schwarzenegger and Sen. Dianne Feinstein proposed $9.3 billion to solve the state’s water problems. The money will primarily be spent to build new dams, water-storage plants and levees.
Alaska state Sen. John Cowdery was indicted on bribery and conspiracy charges for allegedly conspiring with oil service company VECO Corp. to bribe another state senator. Three other Alaskan lawmakers have already been convicted for corruption under an ongoing federal investigation.
A professor of law at the University of Arizona argued that John McCain is not eligible to be president because he is not a natural-born citizen. McCain, who was born in the Panama Canal Zone to American parents, has been declared eligible for the presidency by Congress in a nonbinding resolution.