A fair settlement could facilitate the restart of lending and help accelerate the repair of the housing sector. But if President Obama successfully capitalizes on a deal, banks may be inviting four more years of his anti-Wall Street agenda.

Austerity measures in Europe have been the topic of a heated and mostly confused debate in the economic world. During the May summit of the leading industrial nations at Camp David, German chancellor Angela Merkel and other European leaders pushed for continued European austerity. Keynesian critics argue that these policies destroy economic growth.

AQAP has displayed tremendous sophistication in tactics and propaganda, and it has distinguished itself as the most visible and active arm of al Qaeda currently operating.

The proposed construction of a mosque near the 9/11 terrorist attack site is a test to see if we have the resolve to face down an ideology that aims to destroy religious liberty in America, and every other freedom we hold dear.

The coming expiration of the Bush tax cuts has been a bit below the radar, but will soon surface in a very big way, as either allowing the cuts to expire or making them permanent will shock an economy still reeling and teetering at the abyss of a deeper downturn.

A weak Basij will be a serious problem if the Iranian regime becomes embattled.

Large voter turnout for Iran's June 12 presidential election would be a double-edged sword for the country's hardline leader Ali Khamenei.

One has to be struck at the gaping gulf between the Obama administration's diagnosis of what ails the economy and its policy prescription to promote a recovery.