Reuters - The U.S. government plans to put government sponsored mortgage finance companies Fannie Mae and Freddie Mac under federal control, the New York Times and Washington Post newspapers reported late Friday, in what could be the largest financial bailout in the nation's history.

Reuters - Citigroup could sell its Primerica financial services unit and its First American banking subsidiary in Texas as the bank continues to restructure its business, Ladenburg Thalmann analyst Richard Bove said in a research note.

Reuters - The U.S. government plans to put troubled mortgage finance companies Fannie Mae and Freddie Mac under federal control, the New York Times and Washington Post newspapers reported on Friday.

Reuters - Maurice "Hank" Greenberg, the former CEO of American International Group Inc , could face a fine of up to $100 million to settle three-year-old civil fraud charges brought by New York's attorney general, according to business news channel CNBC on Friday.

Reuters - Boeing Co's 27,000-strong machinists' union declared it will strike at midnight on Friday, as the plane maker failed to improve its contract offer after two days of emergency talks.

Investor's Business Daily - In the past year, the credit crunch has spread from mortgages to student loans and other types of debt. Home equity lines of credit have been reeled in.

Reuters - An Alabama activist group has filed a lawsuit seeking to cancel $6.6 billion in debt and related swaps issued by Jefferson County, claiming the county faces financial disaster because of misdeeds by Wall Street firms, corrupt local politicians and others.

Reuters - General Electric Co said on Friday it had been notified by U.S. regulators that a civil complaint could be filed against the company following a more than three-year-long probe into its use of hedge accounting for derivatives and other accounting matters.

Reuters - Boeing Co's machinists prepared for a strike on Friday as the plane-maker and its largest union tried to hammer out a last-ditch deal on their latest three-year contract.

Reuters - The U.S. Treasury Department is close to finalizing a plan to buttress mortgage finance companies Fannie Mae and Freddie Mac , the Wall Street Journal reported on Friday.