Stand by for Black Monday: Britain braced for meltdown as Bush admits 'we have a big problem' after bail-out talks fail | Mail Online Britain braced for meltdown as Bush admits 'we have a big problem' after bail-out talks fail The U.S. President today admitted he has failed to land a bank bail-out deal, leaving the world on the brink of a global financial catastrophe. President Bush was forced to admit he had not yet been able to persuade senior Republicans to back his $700 billion rescue plan. Experts predict the London Stock Exchange could fall by up to 1,000 points when it opens next week if the deal is not signed. It would be a 'Black Monday' meltdown similar to the financial crash of 1987. Other world markets would also be sure to fall dramatically. In a terse statement from in front of the White House, the President conceded this afternoon: 'We've got a big problem and we've got to move quickly.'