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This will get your blood boiling: a new report shows that Wall Street firms handed out $18.4 billion in bonuses last year as companies were seeking government bailouts. OK, sure, that's a 44% drop from 2007, but it's still the sixth-biggest on record.
President Obama calls the payouts "shameful." "There will be a time for them to make profits, and there will be a time for them to get bonuses. Now is not that time," he added.
That tough talk is being back up with some tough action.
Tonight we've learned President Obama is planning next week to unveil a plan to help fix the financial system that will include a crackdown on Wall Street bonuses, according to two senior administration officials. CNN's Ed Henry will have the details from the White House.
What would like to see in the bailout crackdown plan? Share your thoughts below.
We're also following now private citizen Rod Blagojevich. He's been ousted as the governor of Illinois in a state Senate vote of 59-0. A unanimous decision. He's not staying quiet. A little bit after the vote Blagojevich spoke to reporters outside his Chicago home. "The fix was in from the very beginning," he said.
Illinois Lt. Gov. Patrick Quinn gets to change his business card. The 60-year-old tax attorney is now the Governor. We'll have the latest developments on the wild day in Illinois politics.
Join us for these stories and more starting at 10pm ET.
After the birth of octuplets this week, some doctors are questioning the ethics and medical practice that contribute to extreme multiple births.
Multiples have higher health risks because of their likelihood to be born premature. Many premature babies, such as the new California octuplets, are much smaller and face greater dangers than full-term.
These risks include bleeding in the brain, intestinal problems, developmental delays and learning disabilities that could last throughout their lives. But not all preemies have medical or developmental problems.
CNN Senior Executive Producer
From a pancake house to the White House, a glimpse today of what may be required to get us through 2009.
President Obama likes to point to the American workers who have cut their hours rather than see their fellow employees lose their jobs. There was a great example this week from Mr. B’s Pancake House in Michigan. The wait staff volunteered to work a shift without pay. It saved their boss $700, a lot of money for a small business during hard times. A recent survey cited by CNN Money showed only one out of five Americans are willing to volunteer reducing their hours. They may not have a choice.
David Gewirtz | BIO
Editor-in-Chief, ZATZ Publishing
On rare occasions, the United States Congress does the right thing. This may be one of those occasions, but we'll have to wait until next week to find out.
On Monday, the Senate voted to delay the U.S. television conversion from analog to digital by four months, from a February 17th "doomsday" to a potentially less problematic June 12.
The full House voted on the bill, but it didn't pass with a two-thirds majority. That means they’ll try again next week and if the Rules Committee approves opening the bill for debate, it could pass with a simple majority.
Meanwhile, the clock's a-ticking.
Let's explore what could happen if the House doesn't go along with the Senate and pass the bill. It's not pretty.
CNN Senior National Editor
Dorothy clicked her heels and repeated: “There’s no place like home. There’s no place like home.”
Even in her dream state, Dorothy knew where to find home; with Auntie Em and Uncle Henry on their farm in Kansas.
Home is where the heart is... or is it?
As part of a survey done in October, the Pew Research Center asked 2,260 adults to define “home.”
Before you continue reading, how you would answer that question? (We'd love to know–please tell us by posting a comment.)
Of those who responded, 26 percent said home is where they were born or raised, 22 percent where they live now, 18 percent where they have lived the longest, 15 percent where their family comes from and 4 percent where they went to high school.
For those wondering if America remains a “melting pot,” the majority of foreign-born adults in the survey said the United States was home, not their country of birth.
Click here to tell us how you define home.
As the members of the Republican National Committee prepare to choose a party chairman to serve for the next two years, the calls for new "Hispanic outreach" initiatives are flying - in my view, unnecessarily.
It is probably true that President Obama's election marks the beginning of a post-partisan, post-racial America, or at least a time when these issues are less divisive than in years past.
But will the two political parties be as able to look beyond the stereotypes of Latinos and what the Latino experience is in this country, as they have for other ethnic and racial groups?
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U.S. President Barack Obama checks his BlackBerry device as he walks outside the White House in Washington, D.C., U.S., on Thursday, Jan. 29, 2009. (RON SACHS/Bloomberg News/Landov)
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A brain surgeon performed what he called a "life-saving" surgery on a teenager by removing a large brain tumor using a method he read about on CNN.com just three days earlier.
Dr. Thomas Ellis, a senior neurosurgeon at Wake Forest University School of Medicine in North Carolina, the United States, said he had become "very demoralized" after an unsuccessful six-hour operation to remove a tumor from a 19-year-old named Brandon.
"I had had to give the boy's mother the bad news and that is not something I am used to. She was crying and it was very hard. Your story truly came at the perfect time," Ellis said.
"I am inclined to believe that it is the work of God that I came across your article that very night," the surgeon told CNN.
President Obama's economic stimulus plan cleared its first hurdle, but it was hardly the bipartisan victory he hoped for — not a single House Republican broke ranks to support it.
In fact, 11 Democrats also voted against the $819 billion package.
But a win is a win, and so the White House strategy is to take the long view: Maybe the Senate will take out more of the controversial pork projects and tweak the tax cuts to win over more Republicans.
The full Senate will vote on its version next week. Should the Senate and House pass different versions, the two bills would have to be conferenced together. Then both chambers would have to vote on the new conference version in the coming weeks.
"I do think it is so important that we slow this bill down in order to do it right," said Sen. Kay Bailey Hutchison, R-Texas.
Senate GOP sources report that there is a "real split" in the GOP caucus about the best way to proceed in the wake of Wednesday's vote in the House.
In case you're dying to read through the 647-page text of the Stimulus Bill that passed in the House yesterday, we thought we'd give you easy access. Click here to wade through the details.