Author: 123jump.com Staff
123jump.com
Last Update: 6:24 PM EST March 07 2008
The Fed acted to bolster the liquidity in the credit market by increasing the size of the next two auctions to $50 billion each and also extended facility to lend $100 billion in the short term. The news helped to limit the declines in banks and brokerage stocks. The February payroll declined 63,000 after the revised employment in January fell 22,000. The sharpest decline in five years prompted economists to predict the arrival of recession. Thornburg Mortgage has margin call of $610 million.
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