February 03, 2009

The Obama administration indicated Monday that it will not unveil new measures to aid the financial services industry until next week, but will instead move on the issue of Wall Street bonuses and executive compensation.

In an interview aired on NBC Monday, Obama said, "I don't want to pre-empt an announcement next week," when asked if the administration was committed to the bad bank idea.The President added that "we're going to have see some of this debt written down."'