President Obama is preparing to unveil a rescue plan for Wall Street next week which will dig the world’s biggest banking industry out of a $2 trillion hole.His plan, which has yet to be finalised and signed off, is expected to include the creation of a “bad bank” that will buy some of lenders’ distressed debt and underwrite the remaining billions of dollars worth of troubled assets. It is also believed to include caps on executive pay for banks benefiting from federal help.
It is believed that President Obama has estimated that total losses among America’s lenders could cost the US up to $2 trillion.
When are you americans going to say ENOUGH!
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