Brown says: “The age of irresponsibility must end. We must become a new global order founded on transparency.”
This came as US President George W Bush continued to plead with Congress to give the go-ahead to the $700bn (£380.7bn) mortgage rescue scheme proposed by US Treasury secretary Henry Paulson.
The FTSE 100 closed 2% lower after news of the delay. This was despite news that the Bank of England was injecting £40bn into the market.
The US plan proposes that the Federal government buy toxic mortgage assets to reopen the financial markets.
The BBC reports that negotiations ended in a shouting match as a group of Republican Congress members blocked the plan.
But Bush says: “We are going to get a package passed.”