Markets show big gains after the US government announces plans to relieve banks of toxic debt

Global stock markets have rallied after the administration of US President Barack Obama released details of its plans to stabilize American banks by purchasing their toxic assets. MONICA: Much of the risk will be assumed by US taxpayers - but the public-private investment program, as it is being called, will use about 100-Bbillion dollars already appropriated by the US Congress to bailout the banking system. Overall the plan put forward by the US treasury could cost as much as one Trillion dollars.