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01-Oct-08 11:30 [Americas]
American bankers call upon lawmakers In a move galvanised by fears over the future of pension plans, Americans have angrily demanded that lawmakers sort out the financial sector to prevent another stock market plunge.
Most of the assets linked to retirement that are found in the United States are held in Individual Retirement Accounts or employer-provided 401 pension plans - things that Andrew Pike said could be affected by the worsening financial climate.
"There are people who are concerned that if nothing is done, we might be in store for financial meltdown, and that would have a massive effect on pensions" he told AFP.
Mr Pike, a professor at American University, added that there would also be "massive consequences" should the US government not step in to resolve the matter as it would also have huge effects on unemployment.
The current problems in America are being overseen by senators John McCain and Barack Obama, who are joined forces to work out a plan to aid Wall Street with financial support.
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