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May 5, 2009, 12:00 am ET - Amendment SA 1026 proposed by Senator DeMint to Amendment SA 1018.
May 5, 2009, 5:38 pm ET - DeMint Amdt. No. 1026
Full Text of this Amendment
SA 1026. Mr. DeMINT submitted an amendment intended to be proposed by him to the bill S. 896, to prevent mortgage foreclosures and enhance mortgage credit availability; which was ordered to lie on the table; as follows:
At the appropriate place, insert the following:
SEC. __. LIMITATION ON USE OF TARP FUNDS.
Notwithstanding any other provision of law, on and after April 22, 2009, no funds made available to carry out the Troubled Asset Relief Program may be used for the acquisition of ownership of the common stock of any financial institution assisted under title I of the Emergency Economic Stabilization Act of 2008, either directly or through a conversion of preferred stock or future direct capital purchases.
(As printed in the Congressional Record for the Senate on Apr 30, 2009.)
At the appropriate place, insert the following:
SEC. __. LIMITATION ON USE OF TARP FUNDS.
Notwithstanding any other provision of law, on and after April 22, 2009, no funds made available to carry out the Troubled Asset Relief Program may be used for the acquisition of ownership of the common stock of any financial institution assisted under title I of the Emergency Economic Stabilization Act of 2008, either directly or through a conversion of preferred stock or future direct capital purchases.
(As printed in the Congressional Record for the Senate on Apr 30, 2009.)
