GOP Takes the House, Can't Steal Senate

GOP Takes the House, Can't Steal Senate (Wall Street Journal) Republicans gain 60 seats in the House to take control — but only pick up 6 seats in the Senate, where Democrats still reign. Democratic Senate Majority Leader Harry Reid retains his seat in his race against tea-party candidate Sharon Angle.


Politico Cleverly Monday Morning Quarterbacks the Election (Politico) "Voters Tuesday tore apart the complex map of America President Barack Obama proudly displayed after his 2008." Yep, that about covers it.

New Yorkers Re-acclimate to Phrase 'Governor Cuomo' (New York Post) Andrew Cuomo wins New York gubernatorial race. (But he still can't quite hit an applause line as elegantly as his father — who looks great, right?)

You Still Can't (Legally) Smoke Pot in California (CNBC via AP) Drug cartels successfully lock in profits on marijuana for another election cycle.

Why HAMP Loan Modification is Doomed (New York Times) Why doesn't The Obama administration’s Home Affordable Modification Program work? In a word, economics.

Fed Expected to Announce More QE2 Today (Yahoo via Reuters) Markets watchful of Federal Reserve's decision, expected today at 2:15 p.m.

The Case Against QE (CNBC via AP) Three scenarios for how the Fed might fail with another round of easing.

Obama Loses Mandate? (Business Week) Businessweek explores the ramifications of the Democrats loss of the House in the context of Obama's economic agenda.

European Stock Higher Ahead of Fed Announcement (Bloomberg)