S.386 - FERA

A bill 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. view all titles (14)

All Bill Titles

  • Short: FERA as introduced.
  • Official: A bill 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. as introduced.
  • Short: Fraud Enforcement and Recovery Act of 2009 as introduced.
  • Short: FERA as reported to senate.
  • Short: Fraud Enforcement and Recovery Act of 2009 as reported to senate.
  • Short: FERA as passed senate.
  • Short: Fraud Enforcement and Recovery Act of 2009 as passed senate.
  • Short: FERA as passed house.
  • Short: Fraud Enforcement and Recovery Act of 2009 as passed house.
  • Official: An Act to improve enforcement of mortgage fraud, securities and commodities 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. as amended by senate.
  • Official: An Act to improve enforcement of mortgage fraud, securities and commodities 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. as amended by house.
  • Short: FERA as enacted.
  • Short: Fraud Enforcement and Recovery Act of 2009 as enacted.
  • Official: An Act to improve enforcement of mortgage fraud, securities and commodities 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. as introduced.

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Comments Feed

  • Patriot1949 03/26/2009 10:14am
    Link Reply
    + -2
    The American republic already has Fraud Laws and our Judicial system is to enforce those laws. Increasing American Republic taxes to support this legislation for Laws already in existence has not merit. Total up the millions of dollars for this legislation compared to the total collection of acts of fraud. Total collections will not cover the total cost thus the American Republic will be loosing money during our current economy problems. America’s current and past companies bought about the current economy problems. Act of Fraud was committed, no collections were made to cover the cost and the American taxes payers have to pay the bail out cost. Some of these acts of fraud that affected America’s economy SHOULD HAVE BEEN CHARGED WITH TREASON BECAUSED IT AFFECTED TO COMPLETE NATION.
  • DeanGoss 04/28/2009 3:08pm

    In my opinion, the current laws governing fraud have proven insufficient to deter manipulation, deceit and outright theft. Whether a Ponzi scheme, a bait and switch scheme, or simple theft of services, perpetrators are doing it because they CAN. I wonder if a strict formula of reimbursement above and beyond the amount fraudulently obtained would serve as a deterrent, perhaps a 120% reimbursement. It would guarantee that the Lays, Skillings, Madoffs, Milkens as well as the various minor league charlatans would lose more than they could have made. Their actions are a slap in the face to everyone who shows up and offers an honest day’s work.

  • Comm_reply
    snydes45 05/05/2009 8:53am

    The laws are not insufficient. What you mean is that enforcement is insufficient. The current laws were sufficient for Lay, Skilling, Milkens and Madoff.
    Your suggestion of a 120% reimbursement is a punishment not an insufficient law.
    The proposed law will only provide extra hoops and obstacles for honest businessmen to follow and the liars and cheats will continue to disobey. Notice that all of these probes happen after a huge downturn in the economy. It never happens during a boom. Because government doesn’t want to bother then, and that is the time that is worst for law breaking and fraud. This law is nothing but a show so that congressmen can use it to say “I was tough on the financial system”.

  • cfitzgerald17 05/06/2009 4:57pm

    At the end of the day, does it matter that the congressmen are able to say “I was tough on the financial system” or that fraudsters are caught and the taxpayer is made whole?

  • thecat 05/06/2009 7:17pm

    If this law is passed to investigate fraud, the first areas that should be investigated would need to be the Senate and the House of Representatives. They are committing the largest fraud against the American people since the pilgrims stepped off the first ships. They’re pretending to help “the people”, when they are only trying to help themselves and gloat over the fact that the Democrats “won”. The American people have LOST. All semblance of reason has disappeared, which no hope of coming back with this administration. BO and the rest of the Democratic Party must harbour immense hate for the American people. We would need to build a very large prison to house all the financial crooks associated with the present administration.

  • Comm_reply
    Bud9342 07/05/2009 10:13am

    I TOTALLY agree. Our “Representatives” are sure failing to represent us, so must be themsleves and their buddies. Perhaps if there are enough people with common sense voting in the next election they will see we are fed up with this.

  • Moderated Comment

  • InproperinLA 11/30/2009 6:15am

    The Sarbanes-Oxley Act (2002), Emergency Economic Stabilization Act (2008) & FERAwould make no difference whatsoever, as long as FBI, banking regulators, and U.S. courts refuse to enforce the law on major financial institutions 1. This note is forwarded from Los Angeles County, California, the “epicenter of the epidemic of real estate and mortgage fraud”, and home to a justice system, which “tolerated a subcult of criminality in its ranks”.2 In short – we need U.S. Congress to focus its efforts on more oversight, less legislation. 1 Responses by Kenneth Kaiser (FBI) and Kenneth Melson (USDOJ)to U.S. Congress (2008), deemed fraud and deceit: http://inproperinla.com/08-09-08-congressional-assistance-s.pdf; 2 Blue Ribbon Review Panel Report (2006); http://inproperinla.com/00-00-00-rampart-blue-ribbon-review-panel-2006-report.pdf

  • Moderated Comment


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