Financial rescue dominates papers

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It was, the Independent says, the longest day in the global economy and Wednesday's developments are the lead for all the morning papers.

The Sun has a Thunderbirds theme, headlined "International Rescue".

In the Daily Telegraph, the Chancellor is compared to a fireman fighting the financial crisis with the entire contents of the River Thames.

But, the Guardian says, his fire engine arrived late, and the fires on the financial markets continue to burn.

'Global gamble'

The Independent calls the plan "the global gamble" and says the Treasury team was fuelled by takeaway curries.

And, the Daily Mirror declares, gambles don't come much bigger than Gordon Brown betting £500 billion on saving high street banks.

It's a bet, the Daily Star warns, that could bankrupt the country.

The Daily Mail calculates if the gamble doesn't pay off it could cost every taxpayer £16,000, which it describes as a "devastating prospect."

Problem solving

And that's the fear of all the papers - their question as the Guardian puts it: Will the rescue work?

The Sun's business editor says it should go a long way towards unfurring the arteries of the financial system.

The Times says the plan attacks the two problems at the heart of the credit crisis - lack of capital and liquidity.

In short, the Financial Times points out, the government is trying to restore the essential quality of any banking system: confidence.

Political turnaround

But the papers are in no doubt that the financial crisis appears to have restored confidence in Gordon Brown.

According to the Financial Times, he completed a remarkable political turnaround.

He looked comfortable in his own skin for the first time in ages, the Times' parliamentary sketch-writer observes.

The Daily Telegraph's man in the press gallery says this is because the Prime Minister believes he is now fighting on territory he will be able to navigate.