Tonight the House of Representatives appointed conferees to the Senate/House financial reform bill conference.  House Speaker Nancy Pelosi blogged about it and House Minority Leader John Boehner posted a press release.  Meanwhile, the House Financial Services Committee on Monday posted a side by side comparison of the House bill and the Senate bills.

WHY YOU CARE:  House Financial Services Committee conferees will be voting on all aspects of the bill in conference, while those conferees from other committees are appointed for their specific jurisdictional expertise.  In fact, you can see the specific areas for each conferee’s appointment in this House document posted by the House Financial Services Committee: final_list_conferees.  In other words, they’ll stick to the areas their committee covers.  Here’s who was officially appointed:

FINANCIAL SERVICES DEMOCRATS:

1) Chairman Frank,

2) Joint Economic Committee Chairwoman Carolyn Maloney,

3) Subcommittee Chairman on Capital Markets, Insurance, and Government Sponsored Enterprises Rep. Paul Kanjorski (PA),

4) Subcommittee Chairman on Financial Institutions and Consumer Credit Rep. Luis Gutierrez (IL),

5) Subcommittee Chairman on Housing and Community Opportunity Rep. Maxine Waters (CA),

6) Subcommittee Chairman on Domestic Monetary Policy and Technology Rep. Melvin Watt (NC),

7) Subcommittee Chairman on International Monetary Policy and Trade Rep. Gregory Meeks (NY),

8)  Subcommittee Chairman on Oversight and Investigations Rep. Dennis Moore (KS),

9) Rep. Mary Jo Kilroy (OH), and

10) Rep. Gary Peters (MI).

FINANCIAL SERVICES REPUBLICANS:

1) Rep. Spencer Bachus (AL),

2) Rep. Ed Royce (CA),

3) Rep. Judy Biggert (IL),

4) Rep. Shelley Moore Capito (WV),

5) Rep. Jeb Hensarling (TX), and

6) Rep. Scott Garrett (NJ).

AGRICULTURE: Rep. Collin Peterson (D), Rep. Leonard Boswell (D); Rep. Frank Lucas (R).

ENERGY & COMMERCE: Rep. Henry Waxman (D), Rep. Bobby Rush (D); Rep. Joe Barton (R).

JUDICIARY: Rep. John Conyers (D), Rep. Howard Berman (D); Rep. Lamar Smith (R).

OVERSIGHT: Rep. Edolphus Towns (D), Rep. Elijah Cummings (D); Rep. Darrell Issa (R).

SMALL BUSINESS: Rep. Nydia Velazquez (D), Rep. Heath Shuler (D); Rep. Sam Graves (R).

House Financial Services Committee Chairman Barney Frank has recommended to Speaker Nancy Pelosi that the following eight (8) Democrats serve as conferees: 

1 – Chairman Frank

2 – Joint Economic Committee Chairwoman Carolyn Maloney

 …and the following House Financial Services Subcommittee Chairpersons:

3 – Subcommittee Chairman on Capital Markets, Insurance, and Government Sponsored Enterprises Rep. Paul E. Kanjorski (PA)

4 – Subcommittee Chairman on Financial Institutions and Consumer Credit Rep. Luis V. Gutierrez (IL)

5 – Subcommittee Chairman on Housing and Community Opportunity Rep. Maxine Waters (CA)

6 – Subcommittee Chairman on Domestic Monetary Policy and Technology Rep. Melvin L. Watt (NC)

7 – Subcommittee Chairman on International Monetary Policy and Trade Rep. Gregory W. Meeks (NY)

8 – Subcommittee Chairman on Oversight and Investigations Rep. Dennis Moore (KS)

WHY YOU CARE:  Both the names and the 8-5 Democrat to Republican ratio are just recommendations but are likely to be honored.  The 8-5 ratio was expected and the House is not likely to officially name conferees until closer to the conference due to a different rules in the House versus Senate governing time tables.  The House has a shorter period to complete a conference once conferees are named thus subjecting the majority party to time consuming votes on the floor to extend the conference.

Finally, as a reminder Chairman Frank is the chair of the conference committee but will likely share some duties with Senate Banking Committee Chairman Christopher Dodd.

In a 59-39 vote finance reform cleared the Senate this evening.

So, what’s next?

The House/Senate must now work out differences through a conference.  The expectation is that it won’t be a long one.

On Monday, May 24 you will see two roll call votes in the Senate regarding instructions for the conferees.  One is on Sen. Brownback’s auto dealers amendment, and the other is on proprietary trading.

Why these two?  Because the Brownback amendment and the Merkley-Levin proprietary trading amendment were both supposed to get votes before final passage in the Senate, BUT did not in the rush to conclude the bill this evening.

One technical point the Senate passed HR 4173 as amended by S3217, which is itself as amended.  In other words, the Senate bill passed this evening but officially the Senate is calling it HR 4173 as amended by the Senate bill.  Confused yet?

Another way to put this is that the Dodd substitute bill, plus the amendments which passed the Senate, cleared the Senate tonight but the Senate wrote on the top of that legislation “HR 4173 as amended”.

Tonight Senate Majority Leader Harry Reid filed a motion for cloture (a motion to end debate) on the Senate finance reform bill, which as we noted in The Weekly Crib Sheet on Sunday would set up a debate ending vote come this Wednesday.  That necessitates the release of the manager’s amendment as well on Wednesday, followed by a vote for final passage come Thursday.

In other words, it looks like things are going exactly as we’ve laid them out in The Weekly Crib Sheet below.

Could there be a curve ball?  Yes!  If Sen. Blanche Lincoln doesn’t get 50% in her Tuesday night primary it will mean a June 8th runoff.   Should that happen the Democrats may find a way to get finance reform done in the Senate before June 8th, but we bet not before the end of this week.

Guess we’ll be watching returns come Tuesday evening in Arkansas – the fate of the reform bill is at hand.

The Weekly Crib Sheet for May 17^th-21^st:  We could actually see a vote this week in the Senate first to end debate on finance reform (Wednesday (5/19), should Senate Majority Leader Harry Reid file for cloture on Monday (5/17)), and possibly final passage (Thursday (5/20) should a cloture vote happen on Wednesday, or alternatively Friday (5/21) should a cloture vote get pushed to Thursday).  So what could possibly steal headlines from such a story?  First, there are multiple hearings this week on the Gulf of Mexico oil spill noted on the calendar below – including testimony from key executives.  Second, Mexico’s President is paying a visit to Washington this week which will mean two main narratives in the press:  1) a look at immigration policy, specifically what is going on in Arizona, and 2) the level of drug trade fueled violence along the border.  Third, the Supreme Court nomination will continue to be scrutinized.  Lastly, there are a number of primaries come Tuesday which will absorb the political press’ attention.  The interesting part?  There’s a finance reform tie-in to one of those primaries…

WHY YOU CARE:  Timing is the question we are getting the most inquiries on, and understandably so…  Sen. Reid is expected to file for cloture (again all that means is a motion to end debate) come Monday which would set up the actual cloture vote two days later on Wednesday.  Final passage of the bill would come after that on Thursday, and the much awaited manager’s amendment should come out Wednesday – just in time to be AFTER Sen. Blanche Lincoln’s primary in Arkansas and before the cloture vote later that day on Wednesday.  If you work within that frame work you realize should the motion for cloture be pushed to Tuesday, well then simply kick each data point out an extra day as well.  Could something happen to push this into the following week?  Yes.  Anything can happen, but it looks like the Democrats are trying hard to heard cats in the Senate and get this done.  If you missed Sen. Christopher Dodd’s and Sen. Byron Dorgan’s exchange on the Senate floor this past week, then you missed a window into the intra-party tension that Dodd/Reid are contending with:  Every Senate Democrat is pushing for a vote on their amendment (a couple hundred at this point), and should that happen then it ties up the bill, effectively killing it.  The way out?  Push for a quick vote, which is what Sen. Reid is trying to do.  And why the theatrics on waiting to put out the manager’s amendment?  That has to do with Sen. Lincoln’s primary as the party doesn’t want to rock her boat until after Tuesday.

MONDAY 5/17

Senate Schedule:  Senate convenes at 2p, first votes on finance reform expected at 5:30p ET.

Senate Finance Reform Bill:  Sen. Reid is expected to file for cloture (to cut off debate, setting up a Wednesday vote to end debate) and the Senate is expected to vote on at least four amendments:  Sen. Bond’s amendment on removing start-up funding from SEC review, Sen. Udall’s (D-CO) amendment to give free credit scores when consumers obtain a credit report, Sen. Cornyn’s amendment on certifying future repayment of the IMF’s Greece loan and Sen. Rockefeller’s amendment keep the Federal Trade Commission’s rulemaking ability/authority should a Consumer Financial Protection Bureau be created.

Pres. Obama:  Signs Daniel Pearl Freedom of Press Act of 2009.

Senate Hearing:  Homeland Security and Govt. Affairs Cmte. on the Gulf of Mexico oil spill.  Witnesses include: Homeland Security Secy. Janet Napolitano and BP Pres. Lamar McKay.

House Financial Services Cmte. Hearing:  Subcmte on Oversight and Investigations on “Commercial Real Estate: A Chicago Perspective on Current Market Challenges and Possible Responses.”

Treasury Watch:  Holds conference call on Small Business Health Care Tax Credit.

TUESDAY 5/18

Primaries: Arkansas, Kentucky, Oregon and Pennsylvania each hold primaries this day.  Note for finance reform bill watchers:  Senate Agriculture Cmte. Chwmn. Blanche Lincoln has her primary in Arkansas this day.

Economic Reports: Building Permits (for Apr.), Housing Starts (for Apr.), and Producer Price Index (for Apr.).

Earnings:  Wal-Mart.

Pres. Obama:  Speech on jobs/economy in Youngstown, Ohio.

Treasury Watch:  Treasury Secy. Timothy Geithner travels to Seattle to talk jobs/economy.

Senate Hearing:  Foreign Relations Cmte. on U.S.-Russia arms treaty.  Witnesses include: Secy of State Hillary Rodham Clinton and Defense Secy. Robert Gates.

Senate Hearing:  Environment and Public Works Cmte. on Gulf of Mexico oil spill.  Witnesses include: EPA Admin. Lisa Jackson and Interior Secy. Ken Salazar.

Senate Hearing:  Energy and Natural Resources Cmte. on offshore oil drilling.  Witnesses include: Interior Secy. Ken Salazar.

Senate Hearing:  Commerce, Science and Transportation Cmte. on Gulf of Mexico oil spill.

House Financial Services Cmte.: Hearing on “Initiatives to Promote Small Business Lending, Jobs and Economic Growth.”

WEDNESDAY 5/19

Economic Reports: Consumer Price Index (for Apr.).

Senate Finance Reform Bill:  If Sen. Reid files for cloture on Monday (5/17) then the cloture vote would be held this day.  Also, the manager’s amendment would be released by or on this day.

Pres. Obama:  Hosts Mexican Pres. Felipe Calderon.

Fed Watch: Federal Open Market Cmte. minutes from the 4/27-28 released.

Senate Hearing:  Small Business and Entrepreneurship Committee on the Gulf of Mexico oil spill.

House Hearing: Transportation and Infrastructure Cmte. on Gulf of Mexico oil spill.

THURSDAY 5/20

Economic Reports: Initial Unemployment Claims (for 5/15).

Senate Banking Cmte. Hearing:  How the May 6 stock market plunge happened.  Witnesses include:  Sec Chwmn. Mary Schapiro and CFTC Chmn. Gary Gensler.

FDIC on Quarterly Bank Earnings: FDIC Chwmn. Sheila Bair to hold press conference on bank and thrift quarterly earnings.

House Hearing:  Energy and Commerce’s Oversight and Investigations Subcmte. on the Toyota recall.  Witnesses include:  Toyota Motor Sales U.S.A. Inc. Pres. James Lentz.

FRIDAY 5/21

House Financial Services Cmte. Hearing:  Capital Markets, Insurance and Government Sponsored Enterprises Subcmte. on “Accounting and Auditing Standards: Pending Proposals and Emerging Issues.”

LOOK AHEAD:

June 23^rd:  Federal Open Market Cmte. meeting.

The Weekly Crib Sheet for May 3^rd-7^th: We are posting a streamlined Weekly Crib Sheet this week – less commentary, more dates.  That said, here’s what we think will be leading the newscasts and land above the fold in the papers this week:  1) Times Square terror attempt, 2) Gulf of Mexico oil clean up, 3) Iranian President Mahmoud Ahmadinejad at the UN for nuclear non-proliferation conference (goes all month), 4) immigration policy in Arizona, and 5) the U.K. general elections (with the potential for a third party break out).  Still, financial regulatory reform is going to command a few headlines…

WHY YOU CARE:  As we publish Capitol Hill, Wall Street and K Street are holding their collective breath for Senate Banking Cmte. Chmn. Christopher Dodd’s manager’s amendment.  It is conventional wisdom that what will come out of the Dodd bill is the $50 billion prefunded break up fund for failing financial institutions.  What is less than conventional wisdom is how Democrats will deal with their behind doors growing ranks who think certain language in the Dodd bill (which came out of the Senate Agriculture Cmte.) will drive derivatives trading into dark corners where regulators can’t reach.  We think it is an interesting legal and political question for the Senate to sort through.  THAT’s why we think the Weekly Crib Sheet (albeit late) matters this week.  You will want to follow who says what about different portions of the bill this week.  We’ve got the best road map for that below.  See ya when the manager’s amendment comes out…

MONDAY 5/3

Economic Reports:  Car/Truck Sales (for Mar.), Construction Spending (for Mar.), Personal Income/Spending (for Mar.).

Pres. Obama:  Dines with CEOs associated with the Business Council.

Where the Governors are:  Chamber of Commerce, talking job creation.  Attendees include:  Gov. Tim Pawlenty (R-MN), Gov. Haley Barbour (R-MS), Gov. Bill Richardson (D-NM), Gov. Rick Perry (R-TX), Chamber Pres. Tom Donohue, and fmr. Education Secy. Margaret Spellings.

UN Non-Proliferation Conference:  Iranian President Mahmoud Ahmadinejad attends, so does Secy. of State Hillary Clinton (no we don’t expect them to talk derivatives, but this will soak up some headlines this week).

TUESDAY 5/4

Economic Reports: Pending Home Sales (for Mar.).

Pres. Obama:  Addresses the Business Council in Washington, DC.

Senate Finance Reform Bill:  Resumes debate at 2:15p ET.

Senate Hearing:  Senate Judiciary Cmte’s Crime and Drugs Subcmte. on “Wall Street Fraud and Fiduciary Duties: Can Jail Time Serve as an Adequate Deterrent for Willful Violations?”  Witnesses include:  Conn. Atty. Gen. Richard Blumenthal and Assistant Attorney General Lanny Breuer.

Senate Hearing:  Senate Finance Cmte. on “The President’s Proposed Fee on Financial Institutions Regarding TARP, Part 2.”  Witnesses include:  Treasury Secy. Geithner, Financial Services Roundtable Pres. Steve Bartlett, and Iowa Bankers Assoc. Pres. John Sorensen.

WEDNESDAY 5/5

Financial Inquiry Commission Hearing Day 1: On “the system of bank-like financial institutions and markets operating outside of the regulatory structure fort rational banking activities.”.  Witnesses:

Panel 1:

Paul Friedman, Bear Stearns’ fmr. chief operating officer of fixed income.

Samuel Molinaro Jr., Bear Stearns’ fmr. chief financial officer and chief operating officer.

Warren Spector, Bear Stearns’ fmr. president and co-chief operating officer.

Panel 2:

James Cayne, Bear Stearns’ fmr. chairman and CEO.

Alan Schwartz, Bear Stearns’ fmr. CEO.

Panel 3:

Charles Christopher Cox, fmr. SEC Chmn.

William Donaldson, fmr. SEC Chmn.

David Kotz, SEC Inspector General.

Erik Sirri, fmr. SEC Dir., Division of Trading and Markets.

Joint Economic Cmte. Hearing:  On “Avoiding Another Lost Decade: How to Promote Job Creation.”  Witness:  Asst. Treasury Secy. for Economic Policy and Chief Economist Alan Krueger.

THURSDAY 5/6

Financial Inquiry Commission Hearing Day 2: On “the system of bank-like financial institutions and markets operating outside of the regulatory structure fort rational banking activities.”.  Witnesses:

Panel 1: Henry Paulson Jr.,fmr. Treasury Secy.

Panel 2: Timothy Geithner , Treasury Secy.

Panel 3:

Michael Neal, GE Vice Chmn. & CEO of GE Capital.

Mark Barber, GE Capital Vice Pres. and Deputy Treasurer.

Paul McCulley, PIMCO Managing Director.

Steven Meier, State Street chief investment officer

House Financial Services Cmte. Hearing:  Oversight and Investigations Subcmte on “The End of Excess (Part One): Reversing Our Addiction to Debt and Leverage.”

U.K. General Elections: Held this day – keep an eye on third party candidate.

FRIDAY 5/7

Economic Report: Employment Rate (for Apr.).

Treasury Watch:  Asst. Treasury Secy. for Economic Policy and Chief Economist Alan Krueger holds briefing on employment numbers.

The Weekly Crib Sheet for April 19^th-24^th:  Business/regulatory reform stories will have to compete this week with the Icelandic volcanic fallout, further coverage of Defense Secy. Robert Gates’ Iran memo documenting concerns over the country’s nuclear development trajectory, and the White House’s job search for the next Supreme Court Justice (see below Pres. Obama has a key meeting this week).  As always, there are a number of key business stories – many right in the corridors of Congress that will have a shot at newscast leads and front page coverage.

MBA readers here’s WHY YOU CARE:

1)  Financial Regulatory Reform:  The Goldman Sachs/SEC story at the end of the day creates an incredible amount of pressure for the Senate to act on finance reform from a political perspective.  That’s why the noise that there may be other cases is incredibly important.  Keep an eye out for the stories outlining which Republican Senators would face the greatest pressure to support reform with these types of stories.  Second, keep a look out for the next wave of SEC stories dripping out who might be the next Goldman Sachs.  Lastly, it is worth noting that the timing of the SEC’s move on Goldman Sachs is certainly helpful to Democrats wanting to pass regulatory legislation.  Seems like there’s space for reporting on the timing as well.

2) Financial Regulatory Reform – Lehman:  Even if the SEC/Goldman Sachs story didn’t exist, there’s another event in Washington, DC this week that will help create a Democratic stalking horse for reform.  In fact, it is a congressional hearing – so there’s a natural platform.  It is the House Financial Services Cmte’s hearing on the Lehman Bankruptcy.  Former Lehman CEO Richard Fuld is testifying, so is Treasury Secretary Timothy Geithner, Federal Reserve Chmn. Ben Bernanke, and yes – SEC Chwmn. Mary Schapiro.  So in some ways the SEC/Goldman timing gets even better – you can bet that witness list will get some questions on SEC/Goldman as well as Lehman.  Oh, and come Thursday Pres. Obama is in New York City holding an event to call on regulatory reform – in terms of political staging the above feels like good stage props.

3) Financial Regulatory Reform – Timing:  At 10:30a this morning Senate Banking Cmte. Chmn. Christopher Dodd (D-CT) and Senate Banking Cmte. member Mark Warner (D-VA) hold a news conference on the status of financial regulatory reform.  We think you’ll see questions regarding the $50 billion break up fund, which if dropped (or modified enough) could be the key for peeling away one of those 41 Republican Senators needed for support when regulatory reform hits the floor of the Senate.  Keep you eyes and ears on those questions.  Also, Senate Majority Leader Harry Reid is expected to start the parliamentary process this week to bring reform to the Senate floor, we think we’ll get a better window into that as well.  Oh, not to mention that the Senate Agriculture Cmte. is holding a derivatives hearing this week after pushing out draft legislation last week. [EDITOR'S NOTE:  At the 10:30 presser Monday (4/19) Chmn. Dodd said the Senate would get a chance to vote this Wednesday (4/21) or Thursday (4/22), given the Obama regulatory reform event in NYC noted below (4/22) and the Senate Agriculture Cmte's Wednesday mark up, we'd lean toward Thursday].

4) Financial Regulatory Reform – Derivatives:  Speaking of that the Senate Agriculture’s derivatives legislation, the Cmte. holds a mark up this week (Wednesday, noted below).  Could be contentious given that the Cmte. was supposedly making great bipartisan progress in drafting only to suddenly put out something decidedly less so.  What’s up?  We hear that the Democrats are emboldened, and if that’s the case why compromise and receive grief from the more liberal wing of your party?

MBA wannabes here’s WHY YOU CARE:  First, look for more stories on what the SEC is up to, if you see that the SEC is announcing what other firms it is going after then that will create an interesting dynamic for Democrats to press on regulatory reform.  Second, look for stories on Monday’s (4/19) Dodd/Warner press conference.  If they say that the $50 billion fund in the Dodd bill (that would be paid up front in order to have a fund to break up a failing institution during the next crisis) is going the way of the dodo bird, then that’s a signal that they think they can grab one of the 41 Republicans – thus reaching the needed 60 votes in the Senate to pass regulatory reform.

Here’s the week:

MONDAY 4/19 (15^th Anniv. of the Oklahoma City Bombing)

Dodd/Warner:  Chmn. Dodd and Senate Banking Cmte. member Sen. Mark Warner (D-VA) hold a press conference on financial overhaul today at 10:30a.

Treasury Watch:  Asst. Treasury Secy. for Financial Stability Herbert Allison Jr. on “Rebuilding U.S. Competitiveness at the International Economic Development Council.

TUESDAY 4/20

Earnings: Apple Inc., Bank of New York Mellon Corp., Goldman Sachs, Johnson & Johnson, The Coca Cola Company, Yahoo, Inc.

VP Biden: VP Joe Biden, fmr. Treasury Secy. Robert Rubin and fmr. Treasury Dep. Secy. Roger Altman at the Brookings Institution’s conference on “From Recession to Recovery to Renewal.”

Lehman Bankruptcy Hearing:  House Financial Services Cmte. hearing on the Lehman bankruptcy.  Witnesses include:  Treasury Secretary Geithner, Fed Chmn. Bernanke, SEC Chwmn. Schapiro, Court Appointed Examiner Anton Valukas, fmr. Lehman Chmn. and CEO Richard Fuld, and fmr. Lehman Audit Cmte. Chmn. Thomas Cruikshank.

Senate Hearing:  Senate Finance Cmte. on “The President’s Proposed Fee on Financial Institutions Regarding TARP.”  Witness:  TARP Special Inspector General Neil Barofsky.

WEDNESDAY 4/21

Earnings: AT&T, E*Trade, Moody’s Corporation, Morgan Stanley, Starbucks, Suntrust, Wells Fargo & Company.

Pres. Obama:  Meets with Dem/GOP Senate leaders on Supreme Court vacancy.

Senate Agriculture Cmte.: Holds mark-up on The Wall Street Transparency and Accountability Act of 2010 (derivatives bill).

Reg Reform to Floor:  Senate Banking Cmte. Chmn. Dodd said Monday (4/19) that today is a possible day for his legislation to be brought to the floor.

House Financial Services Cmte. Hearing: Subcmte. on Capital Markets, Insurance and Govt. Sponsored Enterprises on “Corporate Governance and Shareholder Empowerment.”

THURSDAY 4/22

Earnings: American Express Company, Fifth Third Bancorp, PepsiCo, The New York Times Company, Verizon,

Economic Reports: Continuing Unemployment Claims (for 4/10/10), Existing Home Sales (for March), FHFA Home Price Index (for Feb.), Initial Unemployment Claims (for 4/17), and Producer Price Index (for March).

Pres. Obama:  Travels to New York City, holds an event to call for financial regulatory reform.

Reg Reform to Floor:  Senate Banking Cmte. Chmn. Dodd said Monday (4/19) that today is a possible day for his legislation to be brought to the floor.

Hearing on China’s Exchange Rate:  Senate Banking Cmte.

FRIDAY 4/23

Economic Reports:  Durable Order (for March) and New Homes Sales (for March).

Secy. Geithner:  Meets with G-20 finance ministers in Washington, DC.

Senate Hearing on Credit Rating Agencies: Senate Homeland Security and Govt. Affairs Cmte. on “Wall Street and the Financial Crisis: The Role of Credit Rating Agencies.”

Digital Money Policy:  American Enterprise Institution holds a discussion on “Digital Money: Trends and Policy Challenges.”  Participants include:  Visa’s William Sheedy, American Bankers Assoc’s Wayne Abernathy, and Federal Reserve’s Geoffrey Gerdes.

SATURDAY (4/24)

Secy. Geithner:  Meets with International Monetary Fund’s International Monetary Finance Cmte. in Washington, DC.

SUNDAY (4/25)

Secy. Geithner:  Joins the World Bank’s Washington, DC meeting.

LOOK AHEAD:

April 27^th:  Senate Homeland Security and Govt. Affairs Permanent Subcmte. on Investigations hearing on ‘”he Role of Investment Banks’ as part of a series on ‘Wall Street and the Financial Crisis.’”  Witnesses include:  Goldman Sachs CEO Lloyd Blankfein.

April 30^th:  Center for American Progress and the Hamilton Project host an event on the changing global economy.  Charlie Rose hosts.  Guests include:  NYC Mayor Michael Bloomberg, Natl. Econ. Council Dir. Lawrence Summers, Center for American Progress Pres. John Podesta, fmr. Treasury Secy. Robert Rubin.

To do:

1) Sign historic health care legislation into law: Check.

2) Send Treasury Secy. Geithner to the Hill to let folks know the White House is still thinking about the mortgage/housing market: Check.  (See 3/23 on The Weekly Crib Sheet below).

3) Build pressure for financial regulation overhaul:  Hmmmmmm.  Yes, get Deputy Treasury Secy. Neal Wolin to run an op-ed targeted at Capitol Hill audiences borrowing some of the same arguments just used during the health care debate.  Check. (See his op-ed in today’s The Hill.).

If you were watching your blackberry yesterday afternoon (3/22) then you saw our bulletin that the Senate Banking Cmte. approved Senate Banking Cmte. Chmn. Christopher Dodd’s bill on a party line vote of 13-10.  The papers are filled with analysis today.

As a note, like every week, we’ve continued to update The Weekly Crib Sheet below adding additional events (Obama and Feinberg, and the Dodd bill’s Cmte. approval).  See the new additions below.

The Weekly Crib Sheet for March 22^nd-26^th:  Obviously, this is a big week in Washington.  There are a number of stories that will compete for front page space with finance reform reporting.  They are:  1) Health care fallout – a) will Dems lose Congressional seats, if so how many?, b) detailing the student loan portion of the health care bill, c) coverage of the Senate “fixes” for the health care bill, d) signing ceremony if we get there this week; 2) Israel – a) Secy. of State Hillary Rodham Clinton speaks to AIPAC (3/22) along with Israeli PM Benjamin Netanyahu, but so too does fmr. UK PM Tony Blair (all detailed below); 3) Iraq/Afghanistan – Secy. Clinton and Defense Secy. Gates testify on the Hill, as does CIA Dir. Leon Panetta (noted below); 4) More Gitmo/DOJ attorney flap – Attorney General Eric Holder testifies on the Hill this week; and 5) White House 2012 – for true political junkies (and there are many reporters that fall into this category) CENTCOM Commander David Petraeus speaks at the New Hampshire Institute of Politics (also detailed below).

MBA readers here’s WHY YOU CARE:

1)  Financial Regulatory Reform – What We Know:  Senate Banking Cmte. Chmn. Christopher Dodd has a 5pm ET mark up (moved from 4p ET) Monday (3/22) on his draft bill.  With 473 amendments, it initially looked like Senate Banking Cmte. Republicans were looking to slow the process and deny Chmn. Dodd his stated goal of voting the bill out of committee by the time Congress breaks for recess on Friday 3/26.  Now, (and anything could change) it looks like Republicans will pull back their myriad amendments, and let Chmn. Dodd and his fellow Democrats push it through – perhaps as early as the evening of 3/22.

2) Financial Regulatory Reform – What We Know You Don’t Know:  If the bill gets pushed through the Senate Banking Cmte. on the evening of 3/22 it means that it sets up a floor fight.  Essentially, all the members are agreeing to keep their powder dry to duke it out on the Senate floor.  It also puts great weight on what gets said publicly by key players between now and then.  Much like last week so many power brokers are either testifying elsewhere this week on Capitol Hill or speaking publicly that you’ll get a chance to hear their cases and trial balloons publicly.  We of course have broken it down for you day by day below, but here’s a taste of who you’ll hear from publicly this week: VP Joe Biden, Treasury Secy. Timothy Geithner (4 appearances), House Financial Services Cmte. Chmn. Barney Frank, Senate Banking Cmte. members Sen. Jud Gregg (R-NH) and Sen. Bob Corker (R-TN), Senate Ag. Cmte. Chwmn. Sen. Blanche Lincoln (D-AR), BB&T Corp CEO & Chmn. Kelly King, Kansas City Fed Pres. Thomas Hoenig, Deputy Treas. Secy. Neal Wolin, Commodity Futures Trading Commission Gary Gensler, NASDAQ CEO Bob Greifeld, and Financial Accounting Standards Board Chmn. Robert Herz, TARP Inspector General Neil Barofsky and Treasury Asst. Secy. for Financial Institutions Herbert Allison.

MBA wannabes here’s WHY YOU CARE:  If the Senate Banking Cmte. passes Chmn. Dodd’s draft bill the evening of 3/22, it will mean that Democrats lined up with his manager’s amendment.  Look for stories that break down what is in that amendment – it will give you a sense of what will be argued over on the Senate floor.

Here’s the week:

MONDAY 3/22

Dodd’s Draft Bill:  Senate Banking Cmte begins mark up of the draft “Restoring American Financial Stability Act of 2010.”  By our count there are 473 amendments.  As of lunch time on 3/22 it seems as though most of the amendments will be withdrawn and Chmn. Dodd will get his chance to vote it out of the Senate Banking Cmte. this evening. [EDITOR'S NOTE:  Dodd's bill was approved by the Cmte. on a 13-10 party line vote].

VP Biden/Secy. Geithner:  VP Joe Biden and Treasury Secy. Geithner, along with IRS Commissioner Douglas Shulman, hold a recovery act event at the White House.

Secy. Geithner Prt. 2:  Speaks before the American Enterprise Institute re: Financial reform.

Secy. Clinton & PM Netanyahu:  Secy. Clinton speaks in the morning before pro-Israel group AIPAC [moved from 3/21], while Israeli Prime Minister Netanyahu speaks before the same group in the afternoon in Washington, DC.

CIA Dir. Panetta:  Testifies before the House Approps. Cmte’s Select Intel Oversight Panel re: appropriations.

Fmr. Presidents George W. Bush and Bill Clinton: Travel together to Haiti.

TUESDAY 3/23

Economic Reports: Natl. Assoc. of Realtors’ Existing Home Sales (for Feb.) and Federal Housing Finance Agency’s House Price Index estimates (for Jan.).

Pres. Obama: 1) Signs health care overhaul into law, 2) meets with Israeli PM Netanyahu at the White Whouse. [UPDATED: 3/23].

Secy. Geithner:  House Financial Services Cmte. holds a hearing on the future of housing finance.  Witnesses  include:  Treasury Secy. Geithner. [Editor’s Note:  Originally scheduled for 3/2/10].

TARP CZAR:  TARP Exec. Compensation Special Master Kenneth Feinberg holds a 1p media briefing on the next phase of his pay structure determinations for firms that received TARP assistance, 1p ET.  [UPDATED: 3/23].

More AIPAC:   Fmr. UK Prime Minister Tony Blair, now the quartet rep., speaks to AIPAC in Washington, DC.

AG Holder:  Testifies before the Senate Judiciary Cmte. re: Justice Dept. oversight.

WEDNESDAY 3/24

Economic Reports:   Mortgage Bankers Assoc’s weekly mortgage info, and New Home Sales (for Feb.).

House Financial Services Cmte.: The Cmte’s Subcmte. on Housing and Community Opportunity holds a hearing on HR 4868 – the house Preservation and Tenant Protection Act of 2010.

House Financial Services Cmte.: The Cmte’s Subcmte. on Financial Institutions and Consumer Credit holds a hearing on “Keeping Score on Credit Scores:  An Overview of Credit Scores, Credit Reports and their Impact on Consumers.”

Capital Markets Summit:  U.S. Chamber of Commerce’s summit includes:  Senate Banking Cmte. members Sen. Jud Gregg (R-NH) and Sen. Bob Corker (R-TN), Senate Ag. Cmte. Chwmn. Sen. Blanche Lincoln (D-AR), BB&T Corp CEO & Chmn. Kelly King, Kansas City Fed Pres. Thomas Hoenig, Deputy Treas. Secy. Neal Wolin, Commodity Futures Trading Commission Gary Gensler, NASDAQ CEO Bob Greifeld, and Financial Accounting Standards Board Chmn. Robert Herz.

Petraeus:  CENTCOM Commander David Petraeus speaks at the New Hampshire Institute of Politics.

THURSDAY 3/25

Economic Reports: Continuing Unemployment Claims (for 3/13) and Initial Unemployment Claims (for 3/20).

Pres. Obama:  Health care event in Iowa. [UPDATED: 3/23].

Secy. Geithner:  Testifies before the House Approps. Cmte’s Subcmte on State, Foreign Operations, and Related Programs, re: Treasury Dept. international programs.

House Financial Services Cmte.:  Hearing on “Unwinding Emergency Federal Reserve Liquidity Programs and Implications for Economic Recovery.” [UPDATED: 3/23].

Senate Hearing on Loans & the Financial Crisis:  Senate Homeland Security and Govt. Affairs Cmte’s Permanent Investigations Subcmte. on “Wall Street and Financial Crisis:  The Role of High Risk Home Loans.” [UPDATED 3/23:  This is now moved to 4/13/10].

Senate Hearing on FHA & the Financial Crisis:  Senate Approps. Cmte’s Transportation, Housing and Urban Development Subcmte. holds a hearing on the Federal House Authority and the housing/financial crisis.  Witness: FHA Commissioner David Stevens.

House Hearing on Foreclosure Prevention Efforts:  House Oversight and Govt. Reform Cmte. holds a hearing on whether the Home Affordable Modification Program working.  Witnesses invited included:  TARP Inspector General Neil Barofsky and Treasury Asst. Secy. for Financial Institutions Herbert Allison.

Secys. Clinton/Gates:  Senate Approps. Cmte. holds a hearing on supplemental war spending for fiscal 2010.  Witnesses:  Secy. of State Hillary Rodham Clinton and Defense Secy. Robert Gates.

FRIDAY 3/26

Economic Reports:  GDP estimate for fourth quarter

Dodd’s Draft Bill:  Senate Banking Cmte. Chmn. Dodd set a goal to vote his draft reform bill out of Cmte. by today as Congress breaks for recess. [EDITOR'S NOTE:  Chmn. met this goal on 3/22 when the Senate Banking approved his bill].

LOOK AHEAD:

March 30^th:  Economic Recovery Advisory Board Chmn. Paul Volcker speaks at the Peterson Institute for International Economics on financial reform.

April 7^th-9^th:  Financial Crisis Inquiry Commission to hold hearing on “Subprime Lending and Securitization and Government-Sponsored Enterprises.”  Fmr. Federal Reserve Chmn. Alan Greenspan is reported by the Wall Street Journal to be among those who will appear before the congressional panel.