Financial Times FT.com

Lehman Brothers

Wrangling holds up US rescue

By Daniel Dombey, Krishna Guha and James Politi in Washington and Andrew Jack and Michael Mackenzie in New York

Published: September 25 2008 19:18 | Last updated: September 26 2008 15:58

An unprecedented White House emergency meeting broke up on Thursday night after failing to reach full agreement on the Bush administration’s financial rescue package after another day of intense stress on the money markets.

In an outbreak of political wrangling, a hard core of Republicans on Capitol Hill maintained their resistance to a deal, even as John McCain and Barack Obama, the leading candidates in November’s presidential elections, met President George W. Bush and congressional leaders to hammer out a compromise.

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