Some are calling this the most important election in years for the markets and many believe the Republicans will take the House, reports CNBC's Melissa Lee. According to InTrade, Republicans have a 74 percent chance of taking the House.

From the Barefoot Economics Summit in Texas, CNBC caught up with Rep. Jeb Hensarling, the top ranking Republican member of the House Financial Services Subcommittee. Watch the videoto see the full interview.

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Trader disclosure: On Oct. 6, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Colin McGranahan is long (KSS), (AMZN), (ROST), (SWY) and (GPS). Guy Adami owns (AGU), (INTC), (BTU), (NUE), (C), (GS) and (MSFT). Tim Seymour is long (AA), (AAPL), (BBY) and (MON).

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