Obama seeks $825B stimulus; banks weigh bad-bank plan
CBS News
Transcript
the markets were closed for the martin luther king junior holiday wall street will be open for business on tuesday but trading could be overshadowed by barack obama's presidential inauguration mr obama said in a speech that he expects the economy to get worse before it gets better he is pushing congress to approve an 825 billion dollar economic stimulus package that will cut taxes and create jobs the obama administration is looking at new ideas for relieving the crisis in the banking industry one proposal is to set up a so-called bad bank that would take over toxic assets from the other banks the recession continues to put americans out of work in the past few days pfizer circuit city and hertz were among the companies that announced thousands of job cuts and recession or not madonna can still draw the big bucks a 30 year old nude photo of the pop star is going on the auction block next month at christie's it's expected to sell for at least 10 thousand dollars that's your money watch click on cbsnews.com for more business headlines in new york i'm karen brown