Friday October 10, 3:48 pm ET By Sumeet Desai and Mark Felsenthal WASHINGTON (Reuters) - Finance leaders from the world's rich nations pledged a coordinated response to the credit crisis on Friday but stopped short of backing a British plan to guarantee lending between banks. Faced with the threat of a global recession and panicky financial markets, Group of Seven members acknowledged that they could no longer afford a country-by-country, case-by-case approach to crisis management after 14 months of turmoil. Recapitalizing banks was a top priority as the United States, Canada, Britain, France, Germany, Italy and Japan met on Friday afternoon, though there was much disagreement about how best to do that. The U.S. Treasury Department has a $700 billion rescue plan in hand, which it could tap to buy stakes in banks. European...
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