A new bank bailout plan of nearly $1.5t has just been unveiled by the US Treasury Secretary timothy Geithner.
The plan has been designed to expand the size of a major Federal Reserve lending program from previous $200bn to $1 trillion.
Furthermore, the additional funding will also be used to develop a public-private investment fund of $500bn for absorbing toxic assets of the banks and it would be expanded to nearly $1 trillion.
