Wall Street opening bell; Fannie Mae and Freddie Mac
-Wall Street's opening bell celebrated by baseball and New York Yankee executives prior to Tuesday's all star game. Investors went to work Monday knowing the feds would loan money to help the nation's two largest mortgage companies but investors met that plan with a lukewarm response.
The Dow is down 45.35 points to close at 11,055. The Nasdaq also closed down 26.21 points at 2,212.
-The Federal Reserve and the Treasury Department have taken steps to brace up slumping mortgage giants Fannie Mae and Freddie Mac.
When shares of the mortgage companies plunged last week as losses from their holdings threatened their financial survival, Washington decided to step in.
The plan is intended to signal the government is prepared to take all necessary steps to prevent the credit market troubles from engulfing financial markets.
If the Fed loans money to the mortgage companies, they would pay 2 and a quarter percent for any borrowed funds, the same rate given to commercial banks and big Wall Street firms.
-Budweiser is going Belgian. The all American beer has been purchased by a European company.
The maker of Bud, Anheuser Busch has accepted a big offer from the Belgian brewer, In Bev. The price tag is $52 billion and it creates the world's largest brewer. The deal also heads off what would have been a bitter fight. In Bev brands include Stella Artois, Beck's and Bass.
The new company will be called Anheuser Busch In Bev.
-A business of keeping people from falling and hurting themselves has opened on Dupont Circle in Louisville. The Simetria Fall Prevention Center is affiliated with the U of L School of Medicine and is aimed at keeping us upright.
Dr. Melanie Driscoll opened the Simetria Fall Prevention Center July 1st. The goal is find out a person feels dizziness and imbalance.
Driscoll says, "Whether it's a vestibular physical limitation or something to do with their medications, we're looking at the individual as a whole and trying to figure why they may be falling."
Dr. Hayley Gardner says the ear and the eye are interconnected when it comes to our balance. Gardner says,"So we monitor eye movement also helps us start to rule out any kinds of central problems, so if there's any kind of a neurologic issue, m.s., things like that on occasion will pop up. that's when we know we need to refer elsewhere."
Another test is to see how a patient adjusts to imbalance. For most people experiencing dizziness, the problem is typically in the inner ear.
Dr. Driscoll says imbalance problems are not limited to the elderly. The Fall Prevention Center has seen patients as young as 7. You don't have to be elderly to have an inner ear or other issue causing dizziness.