Political Quotes

“I have an amendment at the desk. The Acting CHAIR. The Clerk will designate the amendment. The text of the amendment is as follows: At the end of the bill, add the following new section: SEC. 4. TREATMENT OF BONUSES FOR FINANCIAL SECTOR EMPLOYEES. The Federal regulatory agencies for banking and financial institutions and for securities regulation shall jointly issue regulations that-- (1) require all new employees of any institution, company, or entity regulated by such a regulatory agency, upon hiring, to sign a contract stipulating that any bonus income provided to such employee will be paid in securities or obligations that such institution, company, or entity creates or deals in in its regular course of business; (2) require that any such bonuses paid shall be held in escrow for such period as may be necessary to determine whether the such securities or obligations created or dealt with by such institution, company, or entity are of substandard quality or cannot be readily identified as an asset or a liability; (3) require such escrow accounts to be portable so that an employee may change jobs without hindrance; and (4) prohibit use of any such bonuses to hedge against future losses.”