S.Amdt. 4099

SA 4099. Mr. LEVIN (for himself, Mr. Kaufman, and Mr. Franken)
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 1028 between lines 4 and 5 insert the following:
``(E) No reliance on inadequate report.--A nationally
recognized statistical rating organization may not rely on a
third-party due diligence report if the nationally recognized
statistical rating organization has reason to believe that
the report is inadequate.
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