Big banks mull fighting fund for bad debts (The Scotsman: Business)
Story date: 2007-10-14 04:20:38
Added on: 2007-10-14 17:00:15
MAJOR banks including Citigroup are looking at setting up a roughly $80 billion (£40bn) fund to buy ailing mortgage securities and other assets, in a bid to prevent the credit crunch from further hurting the global economy, sources said.
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