Morning News Friday August 10th 2007
General News:- The Federal Reserve added $19 billion in temporary funds to the banking system through the purchase of mortgage-backed securities to help meet demand for cash amid a rout in bonds backed by home loans to riskier borrowers. - .S. stocks tumbled for a second day, following European and Asian markets lower on concern the credit crunch will hamper growth in the world's biggest economy. - Shares of Countrywide Financial Corp. and Washington Mutual Inc. fell after the U.S. mortgage providers said demand has dried up and finding sources of new money may become more difficult. - Treasuries rose,…