S.Amdt. 3803Senate111th Congress (2009-2011)2nd degree
S.Amdt. 3803
Sponsored by
Sen. Robert Menendez (D-NJ)
Submitted May 4, 2010
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Senate amendment submitted
May 4, 2010
Text
Submitted
SA 3803. Mr. MENENDEZ submitted an amendment intended to be proposed to amendment SA 3739 proposed by Mr. Reid (for Mr. Dodd (for himself and Mrs. Lincoln)) to the bill S. 3217, to promote the financial stability of the United States by improving accountability and transparency in the financial system, to end ``too big to fail'', to protect the American taxpayer by ending bailouts, to protect consumers from abusive financial services practices, and for other purposes; which was ordered to lie on the table; as follows: On page 278 line 23, strike ``$50,000,000,000'' and insert ``$150,000,000,000''. On page 284, between lines 10 and 11, insert the following: ``(15) Limitation on use of fund.--Notwithstanding any other provision of law, amounts in the Orderly Liquidation Fund may not be used under any circumstances to `bail out' or maintain the solvency of any covered institution.''. ______