Byron Dorgan: “What is happening here is really an outrage, from my standpoint. I have a germane amendment. And the only way…”

“What is happening here is really an outrage, from my standpoint. I have a germane amendment. And the only way, apparently, that I can offer my amendment is if the Senator from Texas is willing to allow me to offer it. That is not the way the Senate should work. My amendment requires the disgorgement of profits, bonuses, incentives and so on that the CEOs of corporations receive 12 months prior to bankruptcy. That is not in the bill at the present time. It ought to be in the bill. The bill contains a disgorgement provision requiring the return of incentives and bonus payments received prior to a restatement of earnings. I support that being in the bill, but there is nothing about the requirement to divest all those bonuses and incentive payments 12 months prior to bankruptcy. That ought to be in this bill.”