House passes bailout plan

The House of Representatives, the lower house of the US Congress, has backed a revised version of the Treasury's $700 billion plan to tackle the financial crisis.

The House endorsed the plan by a comfortable majority of 263-to-171 after rejecting the first draft on Monday by 228-205, triggering sharp declines in stock prices .

The US Senate, the upper house, endorsed the revised bill on Wednesday and it will become law when signed by George W. Bush, the US President who has been one of its mo