How the Election Could Move the Markets
With less than two weeks to go, it's still anybody's guess which party will come out on top in the Nov. 7 midterm elections. Poll numbers for President Bush and the Republicans remain dismal amid ongoing Iraq violence and the aftermath of an ethics scandal involving former Rep. Mark Foley (R-Fla.), but the GOP may still be able to hold onto one or both houses of Congress, analysts say (see BusinessWeek, 10/16/06, "Graphic: The Election at a Glance"). Either way, some investors are probably worrying what the elections could mean for the markets.). On the plus side, S&P sees good news for Fannie Mae () and Freddie Mac () if new laws push borrowers toward fixed-rate loans.
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