CNN 2008-10-04

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Hope you’re having a great day, I’m Nicole Lapin at the CNN Center in Atlanta. Here is a look at what’s happening NOW IN THE NEWS. 

The House has just approved a massive Wall Street bailout just four days after voting down a version of the rescue plan. And President Bush signed it a short time later. The move capped a hectic¹, sometimes chaotic² week on Capitol Hill. The Senate resurrected that 700-billion-dollar bailout and added several provisions worth $110 billion to improve its chances in the House. Nearly 50 members switched sides in the House. And the measure passed by a comfortable margin⁴. It went down to 263 to 171. 

It’s coming at the same time as US vice-presidential candidates took their first and only debate to the stage. Last night they were polite but pointed⁵. That’s how a lot of pundits⁶ are describing Thursday’s night exchange between Democrat⁷ Joe Biden and Republican Sarah Palin. Among the topics they covered were the economy, wars in Iraq and Afghanistan and the environment. And neither candidate, we should say, made any serious missteps. 

Investigators⁸ have found human remains⁹ in the wreckage¹⁰ of Steve Fossett’s plane. The DNA¹¹ of a bone is now being tested at a California lab. Earlier this week hikers found Fossett’s ID, cards, cash and other things in this area. Authority said that the plane crashed head-on into a mountain and storm clouds may have played a part in this accident. The millionaire adventurer disappeared 13 months ago. 

Wachovia wants to walk away from its tentative deal with Citigroup, now announcing instead it’s gonna merged¹² with banking¹³ giant Wells Fargo. The announcement has Wall Street happy with stock futures¹⁴ higher on the news. The deal would be worth $15.1 billion. Investors¹⁵ like it because it hasn’t been forced by the regulators and also it doesn’t use government money. Citigroup, however, does not like it. It has already demanded that Wachovia and Wells Fargo terminate this proposal. In a statement Citigroup says it has an exclusive agreement with Wachovia. 

Apparently¹⁶ there will be no mistrial in the Alaska  Senator Ted³ Stevens’ corruption¹⁷ case. The judge ruled against the defense¹⁸ despite finding that the prosecutors¹⁹ broke rules requiring them to turn over evidence favorable to the 84-year-old lawmaker. The trail is recessed²⁰ until Monday. Stevens is accused of failing to report hundreds of thousands of dollars worth of gifts from an oil services contractor²¹. 

And those are the headlines at this hour. For more on those stories and other news of the day, CNN is always your source, online, on TV or on your cell phone. Take care.