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Meltdown

'Bad Banks' Plan Failing

Obama rescue could fall through.

With Wall Street and Main Street transfixed on how the Obama administration will fix the fledging economy, now comes news that their plan to form a "bad bank" for toxic assets might not come to be. "Significant questions remain about key measures of the plan, as well as where the funding will come from," CNBC reported this afternoon, per a source. A second source added that the plan may not see the light of day at all. "They'll be a lot more questions unanswered than answered and they've got to get it right," an industry source explained. CNBC's Charlie Gasparino reported the news on air. Watch his report here.

Read it at CNBC

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