Financial rescue plan aims to inject cash into frozen banks

President Bush will announce this morning the details of a program to expand protections for the U.S. financial system. The plan is to use as much as $250 billion of the $700 billion in rescue funds approved by Congress to buy stock in U.S. banks. The spending would have to happen by by the end of the year, starting with the purchase of stock in nine large banks. Among them are the biggest, including Citigroup, Wells Fargo, JPMorgan Chase, Bank of America and Morgan Stanley. The government is also hoping to unclog the credit jam by having the Federal Deposit Insurance Corporation temporarily back loans that banks make to each other. Guest: Peter Morici, economist and business professor, the University of Maryland