Original 4/30- I have just received word that Johnson/Crapo will be passed in the senate banking committee. They are desperately seeking a few more votes to give the impression of momentum, and they will hold a vote. Remember they had enough votes to pass the bill seven weeks ago, this is complete theatrics. The timing of the vote will be noteworthy. There is no chance of it reaching the full senate for a vote due to the overall lack of support. For those that will await this vote with hopes of buying cheap shares, keep in mind that if good legal news breaks in the mean time you could regret the gamble. Keep the faith!
Edit 5/1- I was amazed by the amount of messages we received thinking this referred to a passage in the full senate.I am shocked that anyone would be holding this stock and not know truly what is going on with this in the senate. This bill is currently in the senate banking committee and although they may “pass” it with 12-14 votes it would have needed much broader democratic appeal in order for Harry Reid to put it out to the full senate. This bill is still dead; this vote would be pure theatrics. What effect this vote would have is unknown as I would expect everyone involved knowing would know its ultimate fate, but obviously there are still those who may panic if it passes in the Banking committee. I will also be posting soon regarding the Obama administration spinning the stress tests both ways to suit their needs. Keep the faith!