Treasury extends temporary money market fund guarantee to Sept
The Treasury Department extends the asset guarantee for money market mutual funds from April 30 to September 18 covering about 3 trillion dollars in fund assets as of September 19, 2008, as part of market stabilization efforts. Ford and GM offer car payment protection programs to ease recession fears with up to seven hundred dollars or five hundred dollars per month payments for up to a year, for buyers who lose jobs through no fault of their own. The John Hancock Tower in Boston, a foreclosure sale, sold for about 660 million dollars, about half its prior price, to Normandy Real Estate Partners and Five Mile Capital Partners.
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Wall Street ends quarter with strongest March in seven years
Wall Street closes a volatile March with its first yearly gain and a three week rally lifting the Dow 16 percent from a March 9 low. Technology and financial shares lead as investors buy big names like Google IBM Bank of America and Citigroup amid expectations of eased rules and bank earnings.
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