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Bad News on Housing: Investors Beware

Posted on June 26, 2008

We continue to believe that the Dodd/Shelby housing bill is important for financial stocks and the market as a whole. Tuesday's 83-9 vote on cloture, the Senate process for limiting debate, seemed to signal passage.After the market close yesterday it became apparent that there are additional hurdles, suggesting that the bill will not pass before the July 4th Congressional recess. One Senator, John Ensign (R-Nev) is using the full range of arcane Senate rules to block the bill. Sen. Ensign wants to add an amendment concerning tax credit incentives for renewable energy. The problem is ...

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market close , renewable , tax