Wall St. okays mortgage rescue

Sep. 8 - Wall Street joined a global equity rally on hopes the Treasury's rescue of Fannie Mae and Freddie Mac would soften the economic blow of the housing turmoil.

The government's move was interpreted as a major event since Fannie Mae and Freddie Mac own or guarantee almost half of the U.S. $12 trillion mortgage market. Conway Gittens, Reuters

SPEAKER: Hugh Johnson, chief investment strategist, Johnson Illington Advisors. Conway Gittens reports from New YorkSOUNDBITE: Hugh Johnson, chief investment officer, Johnson Illington Advisors