This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

2010 Midterm Elections: GOP Takes Hold of the House

2010 midterm elections article updated with latest results, potential impacts on the economy and details from President Obama's speech.

NEW YORK ( TheStreet) -- Republicans took control of the House of Representatives in Tuesday's midterm elections, removing Nancy Pelosi as Speaker of the House in the process -- a sign that some Americans are losing patience with President Barack Obama as the economy continues to flag. The upstart Tea Party faction of the GOP played a key role in the change, enjoying the first victory for one of its candidates to a Senate seat in the process with Rand Paul's victory in Kentucky.

Republicans picked up 60 House seats, the largest House sweep since 1948, wiping out the Democratic majority. The GOP needed to pick up 39 seats to secure a majority.

Republicans now hold 239 seats in the House to 185 for the Democrats, with 13 seats still undecided.
Voting

In a speech Wednesday afternoon, Obama said he had a good conversation with John Boehner of Ohio Tuesday night, who will replace California's Nancy Pelosi as Speaker of the House.

Obama said he did "a lot of listening," and heard confirmation of what he'd already heard from people across America -- that Americans are frustrated with the pace of economic recovery, want their paychecks to go further, want jobs to be created faster, want to know their tax dollars are spent wisely and that their voices are not being "drowned out" by partisanship.
1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
EBAY $26.56 -1.80%
HPQ $27.28 -2.40%
AAPL $109.42 -0.86%
FB $87.20 -1.10%
GOOG $598.75 -1.20%

Markets

Chart of I:DJI
DOW 16,155.49 -219.27 -1.34%
S&P 500 1,929.88 -21.25 -1.09%
NASDAQ 4,705.6530 -27.8440 -0.59%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs