relentless sell off in the stock market monday blew through barry is that a would have been unthinkable just weeks ago and investors warned there was no reason to believe buyers will return anytime soon the dow jones industrial average plummeted below seven thousand at the opening bell and kept dry mean lower all day finishing at six thousand seven hundred sixty three a loss of nearly three hundred points each of the thirty stocks in the index lost value for the day and the standard and poor's five hundred stock index much broader measure of the market's health dipped below psychologically important seven hundred level for closing just above it investors worried and new about the stability of the fight and the financial system after insurer american international group posted a staggering sixty two billion loss sixty billion dollars loss but beyond daily headlines wall street seems to have given up the search for a reason to believe that the worst is over and the time is right to buy again as bad as things are they can still get worse and descent has been breathtaking it took only fourteen trading sessions for the average to fall from above eight thousand to below seven thousand for the year the dow has lost twenty three percent its last close below seven thousand  may first one thousand nine hundred seven but often suffered big drops as investors worried about inflation and rising interest rates this time around wall street analysts seem to believe that a stock market recovery will first require signs of health among financial companies and on monday those signs seemed further away than ever reach is so vast that the government warns letting it fail would cripple the very world financial system will get another thirty billion dollars in loans on top of the hundred fifty billion dollars already invested by the government h s b c p l c europe's largest bank by a market  said it needs to raise about eighteen billion reported a seventy percent drop in earnings for the last year and announced plans to scale back u s lindi and cut sixty one hundred jobs the banking sector helped drive the market lower cit group stock lost twenty percent of its value and fell to a paltry of one sorry about the last eight percent while the root of the problem for the financial firms is bad bets they it on mortgages and mortgage backed securities and now the recession is exacerbating the their problems forcing job cuts the economy definitely has deteriorated since november simcoe head of fixed income management at s c a investments it's just the fact that we haven't seen signs of improving or stabilizing per se which is adding to the market morass makes economic readings provided a little reason to expect a turnaround personal spending in incomes both rose january but construction spending fell three point three percent more than twice what economists expected and coming later this week is much bigger and more honoring data the government on friday will report the national unemployment rate and job losses up for february those figures have been worse month after month so far the economic readings and news coming out of financial companies are still so alarming that the investors feel no alternative but to sell i don't think i don't think we find a bottom in the market until we see some sort of increased level of optimism and confidence among the consumers and investors says jim investment strategists of the plan or in the financial advisors both the dow and the s and p have lost more than half of their value since the market peaked in october two thousand and seven in that time about eleven trillion dollars in wealth has vanished according to the dow jones wilshire by a thousand index which tracks nearly all stocks traded in america last week the dow and s and p fell below five hundred fell below levels they had reached nov twentieth and twenty first to that point their lowest s lin him brothers imploded in september and set off the financial meltdown investors had hoped those levels might mark bottom a market bottom but it hasn't happened the big name investors are just as cautious billionaire warren buffett predicted in the his annual letter to investors saturday the economy will be in shambles throughout two thousand and nine and for that matter probably well beyond he cautioned that it did not determine whether the market would rise or fall and even when the market finally reaches a bottom it probably faces a long long recovery we do feel that things can improve but it is going to be years before we get back to the levels that we saw on the markets a year and was booked into a way around correctional facility at about noon friday he is being held on a by a hundred forty thousand dollars bill hastert was arrested thursday after investigators tracked him down in santa cruz california deflated people between september two thousand and four and two thousand and seven while operating alone sends his gresson valley real estate loan firm he is scheduled to be arraigned that two p m monday i convicted could face up to eleven years and four months in state prison in the parking lot for marijuana two zero eight pm call from three hundred block of boeing a vista street reported a possible vehicle fire two twenty nine pm a woman from two hundred block of dorsey drive reported her neighbor came to her apartment because her five year old child who woman was cited in released on suspicion of assault and a two forty nine p m caller from five hundred block of white team street reported loud yells and swearing an officer found a people were playing video games and they agreed to keep it down for fourteen p m call from morgan ranch drive reported three boys on skateboards going in and out of traffic and playing chicken with vehicles drove under the overpass and golden center freeway and seven thirty seven p m a caller from one hundred block of south church street putting a man sleeping on fire escape years arrested on suspicion trespassing and being drunk in public like a lot of people sleeping on that intoxicated he said his father had assaulted him then left without being treated and sunday twelve twenty seven pm caller from three hundred block of west main street reported a man illegally dumped trash in the business garbage bins and of three thirteen p m a caller from the business on the four hundred block of south auburn street reported seventy six dollars and a license permit had been stolen and at five fifty seven p caller from three hundred block of east main street reported the driver was possibly drunk and driving a station wagon that was missing its right front tire a man was arrested on suspicion of driving under the influence and leaving the scene of an accident never had a county sheriff's office on sunday when thirty three pm caller from green horn creek reported hearing gunshots and at four twenty two pm a man from wolfe road reported domestic dispute the man said a woman hit him in the face three times the woman said he was a con man he was lying and she said he had broken her reps in the past and had been having her while they were in a car highway reported in virtual was driving a black car back and forth talking a horn looks blue to me about a city police department on sunday eight forty seven pm a caller from sacramento street overpass reported two people on the sidewalk wrestling or fighting and monday twelve thirty three am a caller from three hundred block of broad street reported a cab driver had dropped off consumer lending for autos education credit cards and other consumer debt the money will be used to provide financing to to investors to buy up the dead bolt program dubbed the term asset backed securities loan facility was first announced late last year and originally scheduled to start on in february participants companies and investors of the pledge eligible collateral to back the loan must request the new government loans by march seventeenth the fed will provide the three year loans on march twenty feel fed says the program has the potential to generate up to one trillion of lending for businesses and households the telfer t a l l is designed to catalyze the securitization markets by providing financing to investors to support their purchases of certain aaa rated house it backed securities the fed treasury department said in a joint statement tower will assist lenders in meeting the borrowing needs of consumers and small businesses helping to stimulate broader economy under the program the fed will buy securities backed by different types of debt including credit card auto student and small business the credit crunch the worst since one nine hundred thirty s has made it much more difficult for people to obtain such financing and those that can be socked with higher rates prior to the financial crisis banks relied heavily on packaging longs into securities and selling them to funds lundy that process has financed about twenty five percent of the auto industry student auto student and other consumer loans in recent years the treasury department said tuesday until the credit markets ground to a halt in october and no catch up at a professor of the university of chicago's booth school of business so the program should make it easier for consumers to get loans but he cautioned that the fed's willingness to finance some debt could distort the markets by making other debts purities lacked a government backing less attractive to investors we'd really rather credit markets just do work properly fed's plan to keep the program running through december but said it could be extended cerberus secretary timothy geithner announced an expansion of the fed's program on february tenth saying it also will include support for commercial mortgage back securities the central bank said teams from treasury and the fed are now analyzing the right terms for the commercial real estate component the fed and treasuries currently anticipate that the securities backed by car fleet leases as well as certain equipment include the heavy construction and for agriculture will be eligible for fed funny in it operation participants in the second round of funding most requested government loan by april seventh which  will disperse on april fourteenth the program the fed said will remain focused on securities that will have the greatest impact to aid the troubled economy and shaky financial markets and that can add be added a low risk to the government good luck on a messiah airbase in japan the us military is closely monitoring activities in north korea from its bases in japan add up the expected launch of a long range missile that could be capable of striking u s territory official said tuesday north korea said last week that it would launch a communication satellite into orbit but neighboring governments believe the satellite claims may be east u s military officials at misawa air base which is on japan's northern friends just across the sea of japan from north korea said they are closely watching the situation but refuse to provide any details about the possible timing of the launch u s army forces in japan are always vigilant and more than capable of defending japan from any threat including ballistic missiles and as always we are working closely with our japanese allies major james crawford a spokes person for the u s army in japan said tuesday i'm heightened tensions japan defense minister yes of cause you said it is natural for tokyo to respond to any situation for when asked whether government plans to shoot down a north korean missile go to news agencies also said japan plans to deploy and ages radar equipped destroyer carrying a missile interceptor to the sea of japan  threat japanese defense minister and spokes person declined to confirm that report japan which is within easy range of north the north's arsenal has long been anxious about missile activity from north korea which in hundred ninety eight launched a long range ballistic missile over its main island and well into the pacific almost reaching alaska sense then japan and united states have worked together on ballistic missile defense and that built a multi billion dollar ballistic missile shield that includes interceptor missiles both on board ships at sea and patriot missile units that ring tokyo and are also positioned on the island of okinawa where more than half of the fifty thousand u s troops in japan are deployed north korea unsuccessfully test fired a long range missile in two thousand and five the same year it conducted its first nuclear test but is believed to have made improvements in its missile capabilities officials say misawa is the front line station for monitoring north korean activity if u s military satellites detect a flash of heat from the missile range in north korea within seconds computers at the base can plot rough trajectory analysts say north his latest threat is a bid to draw president barack obama's attention as his administration formulates to north korean policy as international disarmament talks remain on hold obama's envoy to north korea is heading to the region for talks with his counterparts in a new with to the nucular talks and out of washington time is running out for more than a million taxpayers  one point three billion in unclaimed tax refunds from two thousand and five internal revenue service said tuesday that the taxpayers are still owed refunds because they never filed tax returns for two thousand and five the missing taxpayers have until tax day april fifteenth claim the two thousand and five refund or the money becomes the property of the u s treasury especially in these tough economic times people should not lose out on money that is rightfully theirs iris commissioner doug schulman said in a statement like  some sure people should check their records especially if they had taxes withheld from their paychecks but were not required to follow a tax return they may be leaving money on the table including valuable tax credits that can mean even more money in their pockets direst estimates that half of those owed refund would receive more than five hundred eighty one dollars there's no penalty for filing a late return that qualifies for a refund direst says but most taxpayers get only three years to file and they forfeit the money taxpayers must also have followed returns for two thousand and six and seven to receive refunds for two thousand and five some taxpayers might not have filed because they made too little income to two six five point four seven every effort is made to keep this information as current as possible however the information provided should be verified before ten thousand dollars dating albert clark age fifty five unknown city forty six counts of grand theft felony bail two hundred fifty thousand dollars and gregory a bust amount