Official Bill Info

• Latest Action: May 20, 2009 Signed by President.

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• Committee Assignment: Senate Judiciary

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  This bill has been assigned to the Senate Judiciary committee.
This bill's most-recent vote occurred on May 18, 2009, with a roll call of 338 ayes, 52 nays, and 43 not voting.
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This bill's most-recent vote occurred on May 18, 2009, with a roll call of 338 ayes, 52 nays, and 43 not voting.

Bill Statistics on OpenCongress

Contribution Data

Opposing Organizations

• American Council of Engineering Companies

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• American Petroleum Institute

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  I know that the organization American Petroleum Institute opposes S.386
• American Insurance Association

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  I know that the organization American Insurance Association opposes S.386
• National Association of Criminal Defense Lawyers

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  I know that the organization National Association of Criminal Defense Lawyers opposes S.386
• American Hospital Association

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  I know that the organization American Hospital Association opposes S.386
• Association of American Medical Colleges

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  I know that the organization Association of American Medical Colleges opposes S.386
• Property Casualty Insurers Association of America

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  I know that the organization Property Casualty Insurers Association of America opposes S.386
• National Defense Industrial Association

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  I know that the organization National Defense Industrial Association opposes S.386
• Greater New York Hospital Association

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  I know that the organization Greater New York Hospital Association opposes S.386
• TechAmerica

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  I know that the organization TechAmerica opposes S.386
• The Coalition for Government Procurement

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  I know that the organization The Coalition for Government Procurement opposes S.386
• Healthcare Association of New York State

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  I know that the organization Healthcare Association of New York State opposes S.386
• The Heritage Foundation

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Most-commented sections of the bill text

Highest Rated User Comments

• On May 05, 2009, by snydes45 - 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".

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  As noted by snydes45, a user on OpenCongress.org, on May 05, 2009, "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". "
• On May 06, 2009, by cfitzgerald17 - 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?

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  As noted by cfitzgerald17, a user on OpenCongress.org, on May 06, 2009, "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?"
• On November 30, 2009, by InproperinLA - The Sarbanes-Oxley Act (2002), Emergency Economic Stabilization Act (2008) & FERA(2009)would 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

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  As noted by InproperinLA, a user on OpenCongress.org, on November 30, 2009, "The Sarbanes-Oxley Act (2002), Emergency Economic Stabilization Act (2008) & FERA(2009)would 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 "

Highly Rated Blog Articles

• S.735: Belarus Democracy Reauthorization Act of ... - OpenCongress - April 05, 2011 by opencongress.org - S.735 : A bill to ensure States receive adoption incentive payments for fiscal year 2008 in accordance with the Fostering Connections to Success and Increasing Adoptions Act of 2008. 21. S.386 : An Act to improve ... Source: admin ... the Belarus Democracy

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  As noted by opencongress.org on April 05, 2011, "S.735 : A bill to ensure States receive adoption incentive payments for fiscal year 2008 in accordance with the Fostering Connections to Success and Increasing Adoptions Act of 2008. 21. S.386 : An Act to improve ... Source: admin ... the Belarus Democracy" (http://www.opencongress.org/bill/112-s735/show)
• S.569: Federal Judicial Fairness Act of 2011 - U.S. ... - OpenCongress - March 13, 2011 by opencongress.org - credit report: Tax Havens: International Tax Avoidance and Evasion ... ... Act (S. 506, H.R. 1265); draft proposals by the Senate Finance Committee; two other related bills, S. 386 and S. 569; the Bipartisan Tax Fairness and Simplification Act (S. 3018);

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  As noted by opencongress.org on March 13, 2011, "credit report: Tax Havens: International Tax Avoidance and Evasion ... ... Act (S. 506, H.R. 1265); draft proposals by the Senate Finance Committee; two other related bills, S. 386 and S. 569; the Bipartisan Tax Fairness and Simplification Act (S. 3018);" (/url?q=http://www.opencongress.org/bill/112-s569/show&sa=U&ei=lCCFT4qpGIm02gWc9dWPCQ&ved=0CDYQmAEwAw&usg=AFQjCNFMau9Fo9PsUjVFWEp8W0aVoxhA7g)
• S.569: Federal Judicial Fairness Act of 2011 - U.S. ... - OpenCongress - March 13, 2011 by opencongress.org - credit report: Tax Havens: International Tax Avoidance and Evasion ... ... Act (S. 506, H.R. 1265); draft proposals by the Senate Finance Committee; two other related bills, S. 386 and S. 569; the Bipartisan Tax Fairness and Simplification Act (S. 3018);

  Clicking this will add the following text:

  As noted by opencongress.org on March 13, 2011, "credit report: Tax Havens: International Tax Avoidance and Evasion ... ... Act (S. 506, H.R. 1265); draft proposals by the Senate Finance Committee; two other related bills, S. 386 and S. 569; the Bipartisan Tax Fairness and Simplification Act (S. 3018);" (/url?q=http://www.opencongress.org/bill/112-s569/show&sa=U&ei=_nyET4y_IMaA2wWK65CVCQ&ved=0CDYQmAEwAw&usg=AFQjCNEB8Ys3q2WhCl62ERYq4cblQTrw6w)

Highly Rated News Articles

• Government & Public Sector - May 27, 2009 by Mondaq News Alerts (registration) - United States: Civil False Claims Act: False Claims Act Amendments In S. 386 Pass Both Houses Of Congress And Are Sent To The President For His Signature ...

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  As noted by Mondaq News Alerts (registration) on May 27, 2009, "United States: Civil False Claims Act: False Claims Act Amendments In S. 386 Pass Both Houses Of Congress And Are Sent To The President For His Signature ..." (http://www.mondaq.com/article.asp?articleid=80314)
• - May 19, 2009 by Naperville Sun - Biggert attended the signing ceremony at the White House where the president signed into law S. 386, the Fraud Enforcement and Recovery Act of 2009, ...

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  As noted by Naperville Sun on May 19, 2009, "Biggert attended the signing ceremony at the White House where the president signed into law S. 386, the Fraud Enforcement and Recovery Act of 2009, ..." (http://www.seattlepi.com/national/1151ap_us_obama_mortgages.html)
• - May 19, 2009 by Naperville Sun - Biggert attended the signing ceremony at the White House where the president signed into law S. 386, the Fraud Enforcement and Recovery Act of 2009, ...

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  As noted by Naperville Sun on May 19, 2009, "Biggert attended the signing ceremony at the White House where the president signed into law S. 386, the Fraud Enforcement and Recovery Act of 2009, ..." (http://www.google.com/hostednews/ap/article/ALeqM5gcfBIkoNCRcz-D6As1iNV_CeeO1wD98A82PG1)