S.Amdt. 4103

SA 4103. Mr. BURRIS 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

[[Page S3940]]

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 1023, strike lines 12 through 18 and insert the
following:
``(ii) the main assumptions and principles used in
constructing procedures and methodologies, including--

``(I) qualitative methodologies and quantitative inputs;
``(II) assumptions about the correlation of defaults across
obligors used in rating structured products; and
``(III) the 5 assumptions made in the ratings process that,
without accounting for any other factor, would have the
greatest impact on a rating if such assumptions were proven
false or inaccurate, together with an analysis, using
concrete examples, of how each of the 5 assumptions impacts
the credit rating;

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