As an update to our previous post, by a vote of 228-205 the House of Representatives rejected the $700 billion bailout bill, formally known as the Emergency Economic Stabilization Act of 2008, which was designed to aid the struggling U.S. economy. It is unclear what the Bush administration and Congress plans to do next to address the credit crisis, although the House of Representatives is scheduled to reconvene on Thursday rather than adjourn so its members can resume campaigning for the November elections.