Stock markets surged yesterday after French President Nicolas Sarkozy of France and German Chancellor Angela Merkel said over the weekend that they would reveal a plan for solving the Eurozone's debt crisis by the end of the month. The plan, which will include recapitalizing European banks, will be presented to world leaders at the G20 meeting in Cannes.
However, it's not just international banks or foreign countries that are in trouble. Bank of America is still dealing with mortgage loans they bought from Countrywide in 2008, and some analysts think they'll need $50 billion dollars to pay for fraud lawsuits.
Today on American Morning, Robert Kuttner, co-editor of American Prospect, sits down with Carol Costello to discuss both the global and American economies and to weigh in on whether or not Occupy Wall Street could influence economic policy.