The squeeze is on. Somewhere in the murky language of the Dodd-Frank financial reform bill are a few words that have made banks happy. In other words, the regulation has probably lost a sizable amount of clout. That's bad news for finnie shorts and great news for suffering longs.
FAS is tearing bears up with a 7% gain to 22.79, while FAZ is down 7% to 14.84 after gaining most of this week. GS (139.65 +3.4%) and C (3.93 +4.1%) are enjoying the boost from Capitol Hill.