Obama Team Proposes Government Bank

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The Obama transition team is considering setting up a government run bank.

Click the player to watch the CBN News report followed by Pat Robertson's comments on a government bank.

The idea would be for the new bank to absorb the bad assets of troubled American banks, which would free up private banks up to lend more money.

The government bank would be funded by money from the $700 billion rescue fund.

But some economists say another rescue package may be needed to have enough money to get the new bank going.

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