S.Amdt. 4068

SA 4068. Mr. LEAHY 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 89, after line 23, insert the following:
(5) Hart-scott-rodino filing requirement.--Solely for
purposes of section 7A(c)(8) of the Clayton Act (15 U.S.C.
18a(c)(8)), the transactions subject to the requirements of
paragraph (1) shall be treated as if Board of Governors
approval is not required.
On page 153, line 4, strike ``and''.
On page 153, line 16, strike the period and insert ``;
and''.
On page 153, after line 16, insert the following:

(IV) if the Secretary, in consultation with the Chairman of
the Board of Governors, has found that the Corporation must
act immediately with regard to the covered financial company
(including any covered financial company that is an insurance
company) to preserve financial stability, the approval and
prior notification referred to in subclauses (II) and (III)
shall not be required and the transaction may be consummated
immediately by the Corporation, provided that nothing in this
subclause shall otherwise modify, impair, or supersede the
operation of any of the antitrust laws (as defined in
subsection (a) of the first section of the Clayton Act,
except that such term includes section 5 of the Federal Trade
Commission Act to the extent that such section relates to
unfair methods of competition).

On page 264, strike line 6, and insert the following:
Review.--
(A) In general.--If a transaction involving the merger or
On page 264, after line 25, insert the following:
(B) Emergency.--If the Secretary, in consultation with the
Chairman of the Board of Governors, has found that the
Corporation must act immediately with regard to the bridge
financial company (including any bridge financial company
that is an insurance company) to preserve financial
stability, the approval and prior notification referred to in
subparagraph (A) shall not be required and the transaction
may be consummated immediately by the Corporation. The
preceding sentence shall not otherwise modify, impair, or
supersede the operation of any of the antitrust laws (as
defined in subsection (a) of the first section of the Clayton
Act, except that such term includes section 5 of the Federal
Trade Commission Act to the extent that such section relates
to unfair methods of competition).
On page 296, after line 15, insert the following:
(d) Antitrust Savings Clause.--Unless otherwise provided,
nothing in this Act, or any amendment made by this Act, shall
be construed to modify, impair, or supersede the operation of
any of the antitrust laws. For the purposes of this Act, the
term ``antitrust laws'' has the meaning given such term in
subsection (a) of the first section of the Clayton Act,
except that such term includes section 5 of the Federal Trade
Commission Act to the extent that such section 5 applies to
unfair methods of competition.
On page 441, after line 12, insert the following:
``(iii) Hart-scott-rodino filing requirement.--Solely for
purposes of section 7A(c)(8) of the Clayton Act (15 U.S.C.
18a(c)(8)), the transactions subject to the requirements of
this paragraph shall be treated as if Board of Governors
approval is not required.''.
On page 567, lines 7 and 8, strike ``, subject to the
requirements of section 5(b)''.
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