The Federal Reserve just cut the federal funds rate by 3/4 of a point. The rate is now 3.5 percent. With markets tumbling and confidence in the economy going wobbly, this was a bold and necessary move. Says Larry Kudlow: "The world is not coming to an end.

In politics as in real life, preparation is key. But for some lawmakers, you've seen one economist, you've seen them all:

When the chairman of the House Financial Services committee holds forth, people would do well to pay attention. Rep. Barney Frank, D-Mass., writes in Monday's Financial Times that what ails America'a economy today is not too much regulation, but too little. "It appears that the regulatory tide may, at long last, be turning," Frank opines. And I believe him.