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Charlotte, N.C.-based Wachovia has been bought by Citigroup. It is the latest major bank that has been sold in order to stave off collapse. The deal was orchestrated by the government's Federal Deposit Insurance Corporation.

Illinois Attorney General Lisa Madigan has asked the state's Supreme Court to strip Gov. Rod Blagojevich of his powers. Blagojevich, who was arrested on corruption charges this week, has ignored calls for his resignation. But his chief of staff, John Harris, has resigned.

Attorney General-designate Eric Holder faces the Senate Judiciary Committee Thursday at his confirmation hearing. Republican committee members say they will challenge Holder on his involvement in controversial pardons by President Clinton, but analysts expect him to be confirmed without much trouble.

Rep. Carolyn McCarthy (D-NY) says she will challenge Rep. Kirsten Gillibrand, New York Gov. David Paterson's choice to fill Hillary Clinton's Senate seat, in a 2010 primary. McCarthy says Gillibrand's 100 percent positive rating from the National Rifle Association makes her unacceptable.

President-elect Barack Obama has unveiled his national security team. Among the main appointments: Defense Secretary Robert Gates is staying on at the Pentagon, Sen. Hillary Clinton will be secretary of state and Eric Holder will be the attorney general.

President-elect Obama said congressional inaction on his economic stimulus package could make a bad situation dramatically worse. In a speech at George Mason University, outside Washington, Obama blamed the economic crisis on "an era of profound irresponsibility."

Publisher Conde Nast closed Gourmet and three other magazines — Cookie, Modern Bride and Elegant Bride — in a bid to cut costs amid a slump in advertising. Lynne Rossetto Kasper, host of public radio's The Splendid Table, offers her insight.

The Senate Judiciary committee voted 13-6 Tuesday to approve Judge Sonia Sotomayor for the Supreme Court. All the Democrats on the committee voted for her along with one Republican, Sen. Lindsey Graham of South Carolina.

Toyota's massive recalls of its vehicles because of problems with accelerator pedals has affected the automaker's dealerships nationwide. Robert Boch, co-owner of Expressway Toyota, a dealership in Dorchester, Mass., says Transportation Secretary Ray LaHood's comments Wednesday spurred a flurry of customer calls to his dealership.

Former Bosnian Serb President Radovan Karadzic's arrest in Serbia is the first step in a process that will send him to a war crimes tribunal in The Hague. He stands accused of mass killings of Muslims during the Bosnian war.