The US House of Representatives has given its stamp of approval to the bailout bill which the US government thinks will help stem the economic crisis that struck Wall Street, the very heart of world capitalism.

President Bush has vowed to sign the bill pronto, as soon as it is transmitted by Congress. The US House voted 263-171 in favor of the bill, just days after the two-thirds of Republicans caused its initial rejection.

Courtesy of the New York Times, track down how the House voted in this live-blogging record.

The Washington Post says the bill may not be enough to solve the problems. The markets in fact were not entirely happy.

To help us understand the bailout bill, it is good to read this FAQ from BBC News. Click here for another “primer”.

Elsewhere in the US, California is asking the US Treasury for a loan.

Recommended reading: Lala Rimando’s report on Filipinos’ personal take on the crisis.