Expected delays in US $700bn bailout causes stock markets to fall

Both Republicans and Democrats are calling for more time to debate some of the issues, particularly the level of pay that bank chiefs should get as they are blamed for the bad loans that have created the crisis in the first place. There are also calls for more help for the homeowners who face losing their homes.

Overall there is also concern that Mr Paulson has been handed too much power, with some believing that $700bn being put in one persons hands unwise.