Truemors
Reuters VIDEO 
Leader's summit on credit crises
With host President George W. Bush in his final two months in office and President-elect Barack Obama not participating, hopes for hard conclusions were low but the intent was to kick off a series of meetings to try to prop up sagging economies.
Bush has violated Free market with $700bn bailout
As leaders of the world's 20 largest economies, dubbed the G-20, gather in Washington, some European leaders are pushing for global financial regulation. And critics charge that the Bush administration itself has violated free-market principles with its massive $700 billion bailout plan. They note that the plan has failed to get credit flowing freely again.
Business lunch credit crisis talks WDC
Europe just arriving from it's own summit EU-Russia blames Lame duck president Bush for the credit crisis and creates it's own European market. Gordon Brown still eager to kickstart his UK economy, may burn the Pound with further credit taking and soon join the Euro zone. Developping countries like Brazil, Lula search for new solutions. China and the Arab countries will not bailout the US over funding IMF.
The EU-Russia group decided the day before at Nice France to make a second meeting with Obama. View how European leaders make their decission the day before: France Live: Sarkozy & Medvedev EU/RUSSIA talks prepare US money talk G20
But prospects for joint action on growth, let alone a major overhaul of the world financial system, looked slim with host President George W. Bush resisting bold moves before leaving office in two months and President-elect Barack Obama absent.
French officials said the Group of 20 advanced and developing economies were close to agreement on a final declaration at the summit which wraps up on Saturday. European officials said the leaders pledged to finalise a first series of measures to reform financial regulations by March 31.
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