Record $32B TXU buyout; Greenspan warns on recession

CBS

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[music] merger Monday shifted into Overdrive with the largest Ever Private buyout in US corporate history txu Texas largest electricity provider has agreed to a 32 billion offer from a Group of Private equity firms shareholders and regulators Still have to sign Off on that Deal and the former federal Reserve chairman Says there's A risk The US could Slip into A recession by year's end All greenspan that The economy has been expanding since 2001 and Says there's No signs The cycle is coming to an end But He Said He could not rule Out A recession It's about to get More expensive to mail that Letter A Postal regulatory commission has recommended A 2 Cent increase for First Class postage From 39 The commission is Stamp that would be valid even If rates Rise in the Future The New Rate could beed 60 Days on cbs.com for the latest Bus headlines in New yk I'm Al chr

U.S. Stocks Take A Tumble (CBS News)

CBS News

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[Music] stocks were in a freef fall after a selloff in China spilled over into the US and around the world the Dow wiped out its gains for the year and suffered its biggest one month drop in nearly 5 years investors are worried that both the US and Chinese economies are cooling and that the US Stock Market could be in for a correction not helping matters former Federal Reserve chairman Allen Greenspan said there's a chance our economy could slip into recession by the end of the year also rattling investors a meltdown in the subprime mortgage Market banks that gave Home Loans to people with bad credit or low incomes are now paying the price as many of those homeowners default or go into foreclosure mortgage Finance giant Freddy Mack says it will no longer buy subprime mortgages that have the highest likelihood of foreclosure those stricter credit standards are expected to make it more difficult for some potential high-risk homeowners to secure a mortgage surprising news out of the housing market home resales Rose 3% in January but the median home price fell for the sixth straight month that's your money watch click on cbsnews.com for more business headlines in New York I'm Alexis christopherus