PRESS DIGEST - New York Times business news - Sept 19

viernes 19 de septiembre de 2008 07:36 CEST

Sept 19 (Reuters) - The following were the top stories in The New York Times business pages on Friday. Reuters has not verified these stories and does not vouch for their accuracy.

* Top officials at the U.S. Treasury Department and Federal Reserve began discussing with Congressional leaders a plan to buy up large numbers of distressed mortgages held by ailing financial institutions.

* As the credit crisis on Wall Street moves to Main Street, borrowers are finding that the nation's lenders are tightening up in numerous ways.

* Putnam Investments, one of the oldest names in the mutual fund industry, said it was liquidating a $12.3 billion money market fund.

* As the rest of the financial community was scrambling to get its money out, a government-owned German lender gave Lehman Brothers Holdings Inc LEHMQ.PK LEH.N 300 million euros on the same day it filed for bankruptcy. The $426 million payment made by KfW Bankengruppe [KFW.UL] provoked an outcry across the political spectrum.

* Instead of writing off an unpaid portion of a mortgage debt, banks want homeowners to sign a note promising to pay some or all of the balance due after the home is sold.

* Sovereign wealth funds in the Middle East are still investing money abroad, but they are diversifying out of the financial sector.

* MidAmerican Energy Holdings, a division of Warren Buffett's Berkshire Hathaway Inc (BRKa.N: Cotización) (BRKb.N: Cotización), tentatively agreed to pay $4.7 billion for Constellation Energy Group Inc CEG.N.

* Morgan Stanley (MS.N: Cotización) is considering its options to shore up its finances and calm investors, including a complex merger with Wachovia Corp WB.N.   Continuación...