Treasury Secretary Tim Geithner, who finished testimony before the Senate Budget committee moments ago, reaffirmed that the cost of cleaning up all the toxic assets clogging the balance sheets of sick financial institutions will be at least $1 trillion.

Federal Health Minister Nicola Roxon has lashed out at the spirits industry's offer not to take back $300 million in tax collected from the Government's alcopops tax increase, accusing them of "paying a bribe".

The Chinese premier, Wen Jiabao, expressed concern about his country's $US1 trillion ($1.5 trillion) holdings of US government bonds.

"We've lent a huge amount of capital to the US, and of course we're concerned about the security of our assets. And to speak truthfully, I am a little bit worried."

That was all it took.