The rescue plan set out by Tim Geithner yesterday left key questions unanswered and a hoped-for element out even as it established an expansive framework for fighting the credit crisis.

The strategy envisages a multipronged effort to restore the flow of credit - with a stress test, toxic asset purchases and recapitalisation funds to repair banks and $1,000bn in direct financing for securities markets in addition to housing relief. But important details were missing.