US Government Introduces $800 Million Rescue Plan

(25 Nov 08 - RV) The U.S. government today introduced a pair of new programs that will provide $800 billion to help unfreeze the market for consumer debt which Treasury Secretary Henry Paulson calls vital to supporting the economy. Key markets for consumer debt such as credit cards, auto loans and student loans essentially came to a halt in October, and the new programs are aimed to get lending back to more normal levels.
Meanwhile, the Organization for Economic Cooperation and Development today said the global financial crisis will likely push the world's developed countries into their worst recession since the early 1980s. Economic expert James Lucier explains….