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Just FYI, I had a conversation directly with Jack today and got the first real explanation on what is going on with this and what the prospects are. In short, they are not good. The language we thought was going into the Financial Reform Bill was never inserted and they are back to square one and hoping Treasury approves this. I have no idea what he was saying about waiting for decisions or knowing "in a week." They have word from Treasury that it is in a pile somewhere down in some bureaucrat's office and not even up to the Secretary for a decision. There are a few things they are working at the moment in concert with Ben Barnes who still stands to make a success fee, but it didn't sound likely to happen soon. Dodd is pushing it but I don't think Treasury cares much about Dodd anymore as he is a lame duck. Frank is neutral at best. Anyway, Jack might like our help but since we don't lobby I am not sure what we could do to help. Let's discuss.


Eric D. Schwerin
Rosemont Seneca Partners, LLC
1010 Wisconsin Ave., NW
Suite 705
Washington, DC 20007
(202) 333-1880
eschwerin@rosemontseneca.com
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