i saw a segment on CNN on the gaia effect some time back and would like to know the full description of it.

The short answer:
"The Gaia hypothesis says that the temperature, oxidation state, acidity, and certain aspects of the rocks and waters are kept constant, and that this homeostasis is maintained by active feedback processes operated automatically and unconsciously by the biota." - - James Lovelock, The Ages of Gaia

However:
Your question can't be answered fully in one post. Below are some links that will help explain the concept more fully:

Here is a brief introduction to Gaia theory, as developed by Lovelock, Margulis and others.

Wikipedia

Dave Bice, Dept. of Geology, Carleton College, Northfield, MN 55057

The Evolving Gaia Theory, Paper presented by James Lovelock at the United Nations University, 25 September 1992

GAIA International Mission Statement


A Google search for "Gaia effect" will give you more links, some with recent examples of the effect.

DG
I did a search with "Gaia Effect definition" as Keywords got 55k hits