The federal bailout is the focus of two separate hearings today on Capitol Hill.  Fed Chairman Ben Bernanke and Treasury Secretary Henry Paulson will be testifying about how the federal Wall Street bailout is working.  Meanwhile, the Senate Banking Committee is holding a hearing on the troubled U.S. auto industry. 

Gas prices are at their lowest level since March of 2005.  The Energy Department says the average price fell another 15 cents this past week.  The average price nationwide is two-dollars-seven-cents a gallon, a drop of more than a dollar from prices this time last year.  Triple-A says there are now 17 states with average prices under two-dollars a gallon. 

Joe Lieberman apparently won't be kicked out of the Senate Democratic caucus, despite campaigning for Republican presidential nominee John McCain.  Lieberman will also reportedly keep his chairmanship of the Homeland Security Committee, but may be asked to step down as head of one subcommittee. 

Minnesota launches a state-mandated recount today in one of the nation's most closely-watched election races.  Republican Minnesota Senator Norm Coleman has seen his lead over Democratic challenger Al Franken shrink to just 206 votes since the November 4th election. 

California's Tea Fire is now fully contained.  The blaze burned more than 19-hundred acres and destroyed 210 homes on just over three square miles of some of the most expensive property in America.  Some residents in Montecito are still under an evacuation order while others are being allowed to return home. 

Japan's newest baseball sensation is five-feet tall, 114 pounds and a female.  MLB.com reports 16-year-old Eri Yoshida is bidding to become the first female pro baseball player in Japan.  The right-handed knuckleballer was drafted on Sunday by a pro team in the country's new independent Japanese League.