Keep Those Cards and Letters…
Although the comment deadline on the capital standards (see FSM Report CAPITAL230) closed last Tuesday, Members of Congress viewed that deadline with the same insouciance they adopt for keeping the federal government open. That is, they got around to it when they felt like it. As a result, letters on the capital rule keep coming in and FedFin analyses keep sending you summaries of each of their key points. As Karen Petrou’s Monday memo will lay out, the most surprising aspect of most of the letters from Democrats is how guardedly they express support for the capital proposal.