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Mutual Funds: Happy holidays from MarketWatch`s mutual funds team
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Market Watch

GMAC approved for bank holding company status
GMAC, the ailing consumer lender partly owned by General Motors, was granted regulatory approval on Wednesday to become a bank holding company, giving it access to the US government's $700bn financial rescue fund and other lending programmes
FT.com

Tiny yields challenge money funds, investors (AP)
AP - Three months after the government stepped in to prop up reeling money-market funds, the $3.8 trillion industry is largely healthy again, with money flowing back to the safe-harbor investments at a steady clip.
Telegraph

Fed Will Allow GMAC To Tap Bailout Fund
The Federal Reserve has granted a request by the financing arm of General Motors to become a bank holding company and tap the government's $700 billion rescue fund, bolstering GM's ability to survive.
NPR

Fed grants GMAC authority to seek bailout funds
Decision allows financing arm of GM to petition for government money
The Globe and Mail

Madoff investor who lost $1.4B apparently committed suicide
The co-founder of a fund that invested $1.4 billion in disgraced financier Bernie Madoff's alleged Ponzi scheme was found dead ...
USAtoday.com

Fairfax Announces Acquisition of Additional Units of Jazz Air Income Fund (Marketwire)
Fairfax Financial Holdings Limited(NYSE: FFH) announced today that it has acquired, through its subsidiaries, 300,700 units of Jazz Air Income Fund, bringing its total holdings in the Fund to 15,316,900 units or approximately 12.47% of the total units outstanding.
yahoo.com

GMAC gets access to bailout funds
The Federal Reserve on Wednesday opened the door for GMAC to get federal bailout money by granting the troubled General Motors finance arm status as a bank holding company.
CNN

Barclays Global Investors Canada Limited (iShares): Barclays Canada Announces Final Annual Reinvested Distributions for the iShares Funds
TORONTO, ONTARIO (MARKET WIRE) Barclays Global investors Canada Limited (iShares)(TSX: XBB)(TSX: XCB)(TSX: XCG)(TSX: XCV)(TSX: XDV)(TSX: XEG)(TSX: XFN)(TSX: XGB)(TSX: XGD)(TSX: XIC)(TSX: XIN)(TSX: XIT)(TSX: XIU)(TSX: XLB)(TSX: XMA)(TSX: XMD)(TSX: XRB)(TSX: XRE)(TSX: XSB)(TSX: XSP)(TSX: XTR)(TSX: XSU)(TSX: XEN)(TSX: XCS)(TSX: XCR)(TSX: XGR)(TSX: XGC)(TSX: XAL) -
Market Wire

Revised John Hancock Preferred Income Fund III Reports First Quarter Earnings (PR Newswire)
John Hancock Preferred Income Fund III , a closed-end fund managed by John Hancock Advisers, LLC, reported today that net investment income was $11,016,886 for the first quarter ended October 31, 2008 .
yahoo.com

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