President-elect Barack Obama's proposed $800 billion economic stimulus plan may boost the troubled economy, but additional bank bailouts will likely be necessary to really fix the economy, Federal Reserve Chairman Ben Bernanke says.
CNN Money reports that Bernanke was quick to warn that the plan will not likely foster long-term recovery without an additional efforts to “stabilize and strengthen” the financial system. He added that more financial institutions will need more capital and debt guarantees, and that the government should receive further equity in return.
Source:
CNN Money: Bernanke: More Bank Bailouts Needed
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