Bank failures. Investment firm takeovers. Insurance company collapses. The meltdown in the credit markets is dragging down an ever-growing list of financial institutions. Is also is reshaping the Washington business community. One needs to look no further than the region's 20 largest public companies in the Post 200 to see the carnage, Starting at the top with Fannie Mae and Freddie Mac. The mortgage finance giants became so hobbled that the government seized control. The area's other big businesses - be they defense contractors, hotel firms or health-care concerns - also face challenges. Staff writer Alejandro Lazo looks at the firms' share prices and how they are weathering the crisis.
SOURCE: Bloomberg News | GRAPHIC: By Kristin Lenz, The Washington Post - Sept. 29, 2008
House Rejects Financial Rescue, Sending Stocks Plummeting Article | A bipartisan rebellion in the House killed a $700 billion rescue plan for the nation's financial system yesterday, sending global stock prices plunging, prompting fierce recriminations on the presidential campaign trail and dealing President Bush his worst legislative defeat.