Can bad Washington policies sometimes work to the benefit of financial markets? In the short run the answer is certainly yes. Nothing illustrates this point better than the gigantic Fannie-Freddie housing bailout bill that will soon pass Congress and be signed into law by President Bush.    Read More

In a vote of no confidence in the housing market, President Bush this morning revoked his threat to veto the housing rescue bill, which is making its way to a vote on the House floor today.    Read More

By visiting Iraq and Afghanistan, Obama is trying to narrow McCain's advantage on handling national security issues. The economy, however, is where Obama can build an edge of his own.    Read More

As I have been saying, much of the recent sizzle in the race toward almost daily record price levels is attributable to the tensions over Iran, and the recent tangible statements and actions by Israel, Iran, and the US, in terms of military exercises.   Read More

I see this morning that some of my CNBC colleagues are talking down to Jim Bunning, almost making fun of him as some sort of “odd duck,” because the Kentucky senator dared to squawk back at Henry Paulson (and for that matter Ben Bernanke) during yesterday’s Senate hearings on Fannie Mae and Freddie Mac.    Read More

In a dramatic move yesterday President Bush removed the executive-branch moratorium on offshore drilling. Today, at a news conference, Bush repeated his new position, and slammed the Democratic Congress for not removing the congressional moratorium on the Outer Continental Shelf and elsewhere.   Read More

Mr. Bernanke's job is to walk the fine line between acknowledging--and defending--the Fed's expanding role in the regulation of investment banking, and not appearing to be coddling excessive risk-takers.    Read More

Cramer last week offered up his prediction of potential winners from the new Medicare bill -- the one that passed in the Senate yesterday. (President Bush has said he'll veto -- but it already passed by a veto-proof margin.) The good news is that Fresenius Med (FMS), Cramer's fave of the bill, got bumped to a 52-week high today with three points. But what about the losers of the Medicare bill -- the new offenders headed for the Sell Block?   Read More

As banking and financial stocks lead the overall indexes down into bear-market territory, Fed head Ben Bernanke and Treasury man Henry Paulson are testifying today on ways and means to reform all manner of bank and securities dealer supervision and regulation.   Read More

Seeing as how we have dealt with the Fed and interest rates, the evils of speculative oil trading, and consumer confidence in the past few days, it's now time to turn our attention to the housing relief bill working its way through the system.    Read More