Backers of the bill said it was needed to avoid further freezing of credit in the global banking system.

FORBES: Magazine Article

But the scale of collapse was broadened and deepened by the freezing up of the machinery of global finance, a dramatic collapse in confidence and stock-slashing.

ECONOMIST: World economy

It may not have been the only reason why the summit did not go anywhere but local freezing over Europe, and the US as well I think, did hurt global warming.

FORBES: Local Warming