S.Amdt. 1001

1. Adds SEC. __. SENSE OF THE SENATE IN SUPPORT OF CREATING AN INTERAGENCY TASK FORCE TO INVESTIGATE FINANCIAL FRAUD at the end of the bill

   Adds a section

   In S. 386 · Reported to Senate

   (b) Effective Date and Application.--The amendments made by this section shall take effect on the date of enactment of this Act and shall apply to conduct on or after the date of enactment, except that subparagraph (B) of section 3729(a)(1) of title 31, United States Code, as added by subsection (a)(1), shall take effect as if enacted on June 7, 2008, and apply to all claims under the False Claims Act (31 U.S.C. 3729 et seq.) that are pending on or after that date.

   Inserted: SEC. __. SENSE OF THE SENATE IN SUPPORT OF CREATING AN INTERAGENCY TASK FORCE TO INVESTIGATE FINANCIAL FRAUD.

   Inserted: (a) Findings.--The Senate finds that--

   Inserted: (1) the United States is currently facing an unprecedented economic crisis, with massive job losses and an alarming contraction of economic activity;

   Inserted: (2) as of March 31, 2009, the United States Government has spent, loaned, or committed more than $12,000,000,000,000 in an attempt to mitigate and resolve the economic crisis;

   Inserted: (3) the economic crisis reaches into, and has impacted, almost every aspect of the United States economy and significant parts of the global economy;

   Inserted: (4) there is compelling evidence of egregious and criminal conduct that has contributed to the collapse of the economy;

   Inserted: (5) any person, company or entity that has benefitted from such financial wrongdoing must be investigated and prosecuted to the full extent of the law;

   Inserted: (6) there are piecemeal initiatives by many different national, State, and local entities to investigate and prosecute financial fraud cases;

   Inserted: (7) a national multiagency task force headed by the Department of Justice would bring singular focus and intensity, coherence, and coordination to the investigations now underway and result in identifying and prosecuting violations of law much more quickly; and

   Inserted: (8) a similar Task Force was created in connection with the Enron scandal and it was instrumental in bringing criminals to justice.

   Inserted: (b) Sense of the Senate.--It is the sense of the Senate that--

   Inserted: (1) the Department of Justice should make it a top priority to facilitate a comprehensive national effort to investigate and prosecute financial fraud cases or any other violation of law that contributed to the collapse of our financial markets; and

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   Inserted: (2) the Department of Justice should create an interagency Economic Crisis Financial Crimes Task Force dedicated solely to--

   Inserted: (A) investigating and prosecuting those responsible for creating, causing, or contributing to the financial crisis that is devastating our entire economy; and

   Inserted: (B) seeking to claw back any ill-gotten gains as a result of this wrongdoing.

   Original wording

   At the end of the bill, insert the following:

Read automatically from the Congressional Record. Check the original before relying on it.

As printed