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Finance ministers from the Group of Seven leading world economies, including the UK and US, said they stood ready to pump public money into banks in order to prevent them from collapse.

The G7 presented a five-point "Plan of Action" to arrest the turmoil, including, most significantly a promise to "ensure that our banks…can raise capital from public and well as private sources, in sufficient amounts to re-establish confidence and permit them to continue lending to households and businesses."

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Only problem was the US President didn't look like he believed it -

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There have been stock market crashes before with worse one-day drops, but never before has there been such a prolonged and comprehensive shutdown of the arteries of finance. On Black Monday in 1987 the market dropped by far more in 24 hours, but at least then it bounced back relatively quickly. Here, it is hard even to locate the light at the end of the tunnel.

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"Never has it been more essential to find collective solutions to ensure stable and efficient financial markets and restore the health of the world economy," he said.

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Originally posted by Louboutin:
Alistair Darling calls for world’s financial leaders to take decisive action £2.7 trillion wiped off the global value of shares as confidence collapses

That costly 5 star jolly could have been delt with by a conference call, still why do that when you can have a freebie paid for by the worlds tax payers, and the following press enjoy it fills editorial space with an expenses paid globe trotting trips.

Only thing they would'nt get that all impotant group shot trying to make it as if they are very worth while and importnant, and lets face it you know how you would miss that cosy line up shot, did it manage to spike any share prices rises seeing all those suits line up makes you feel secure, instills confidence (sarcasm)

G7 finance ministers meeting in Washington have developed an "aggressive action plan" to tackle the global financial crisis.

The snakes in suit picture shoot

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"Never has it been more essential to find collective solutions to ensure stable and efficient financial markets and restore the health of the world economy," he said.