mhill, ruud -- I think you're confusing what you want to happen with what will likely happen. the clock only started with mnuchin's leadership, so it's been 1 year not 9, from his point of view. duffy's committee has had 3 hearings in a month on the matter, I don't think it's just for fun --- it's most likely mnunchin told them to get ready for 2018 congressional action. moreover, odds are good that the congress will flip democratic in 2019, so it's likely in the bank cartel's (congressional repubs) interest to work with mnuchin to get something done next year.
all that said, I do believe the common and preferred securities are materially undervalued at these levels.
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