Blame game resumes after US banks bail-out blocked

To read the headlines, you'd think the end of the world was nigh. The collapse of the $700bn US bail-out of the global financial system attracts dire warnings across the UK papers. We are "Staring into the abyss" (Telegraph) and facing a "World of Pain" (Mirror) after the "Meltdown on Wall Street" (Mail) and the "Blackest Monday" (Sun).