Rep. Henry Waxman, a liberal ally of Speaker Nancy Pelosi, will take over the chairmanship of the powerful House Energy and Commerce Committee when the next Congress convenes in January. Waxman is a liberal California Democrat. In an election among House Democrats, he toppled veteran Michigan Rep. John Dingell from the post. Dingell is the longest-serving member of the House.

A key House Democrat is writing legislation that would send $25 billion in emergency loans to the beleaguered auto industry in exchange for a government ownership stake in the Big Three car companies.

A democratic president and a democratic congress… it has many people wondering what kind of agenda Barack Obama will pursue when he takes office.  The Fairness Doctrine, was once on the back burner, and now it’s an issue that’s being talked about again.  WJBF News Channel 6’s Barclay Bishop has more.

The details are being finalized Sunday, but the chief Senate Republican in the Wall Street bailout talks says they’ve “worked out everything.“ New Hampshire Senator Judd Gregg made the comment after House Speaker Nancy Pelosi announced a tentative deal shortly after midnight.