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The article discusses the uneven response to date by nations confronting a global financial crisis. Although the U.S. government has acted to stem the crisis and economists in the U.K. have proposed a concerted effort among nations to pump capital into the global banking system, collective action has been largely lacking.

The article discusses the financial condition of large U.S. investment banks. Both Goldman Sachs Group and Morgan Stanley & Co. are expected to report weak second quarter earnings for 2008. Analyst David Trone believes the two will report combined writedowns of $4.8 billion. Some say U.S. regulators could compel investment banks to hold greater levels of capital.