Morning News Tuesday August 21st 2007
General News: - Federal Reserve policy makers don't expect to know for days whether their Aug. 17 discount-rate reduction will succeed at calming markets, Fed watchers say. - U.S. stocks dropped, led by homebuilders after real-estate foreclosures almost doubled in July and an analyst said the credit crunch will depress housing in the months ahead. - U.S. homes facing foreclosure almost doubled in July as property owners with adjustable-rate mortgages saw their payments rise and were unable to refinance because of the subprime crisis, RealtyTrac Inc. said. - The credit crunch triggered by a rout in the U.S. subprime housing…