New bailout planned

-BBC

US officials are working on a plan to help rid US banks of their bad debts in order to tackle the devastating global financial crisis.

After a meeting with Congress members late on Thursday, US Treasury Secretary Henry Paulson said new laws were needed to deal with the "root" of the problem.

(continues) (CNN Money)
Associated Press: Treasury, Fed move to bolster money market funds
Bloomberg: Treasuries Slide as Government Seeks Solution to Crisis
Telegraph: FTSE 100 surges most in history
IHT: Asian stocks gain on U.S. response to crisis
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