S.Amdt. 992

SA 992. Mr. INHOFE submitted an amendment intended to be proposed by him to the bill S. 386, to improve enforcement of mortgage fraud, securities fraud, financial institution fraud, and other frauds related to federal assistance and relief programs, for the recovery of funds lost to these frauds, and for other purposes; which was ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC. __. ENHANCED OVERSIGHT OF THE TARP.

Section 116(a)(1) of the Emergency Economic Stabilization Act of 2008 (12 U.S.C. 5226(a)(1)) is amended by adding at the end the following:

“(I) With respect to any financial institution or other entity participating in a program established under this Act, any sole expenditure, transaction, or commitment to purchase or any pattern of expenditures, transactions, or commitments to purchase by such financial institution or other entity that exceeds $10,000, in aggregate, and is not essential to--

“(i) ensuring the recovery of the financial institution or entity;

“(ii) restoring the solvency of the financial institution or entity;

“(iii) improving the liquidity of the financial institution or entity;

“(iv) enhancing returns for the investors of the financial institution or entity; and

“(v) increasing the net worth of the financial institution or entity.”.