The U.S. House of Representatives rejected Monday the 700-billion-dollar financial rescue legislation, which Bush Administration said is "urgently needed to address a crisis in our financial system that threatens the entire U.S. economy."

The bill was rejected by a vote of 228-205. Leaders in the House said they might reconsider the bill on Thursday, as the Senate had planned a vote on the measure on Wednesday.

(CCTV October 1, 2008)