Political Quotes

On the recordApril 29, 2010
The Senator from Nevada [Mr. Reid], for Mrs. Boxer, proposes an amendment numbered 3737 to amendment No. 3739. At the end of title II, add the following: SEC. 212. PROHIBITION ON TAXPAYER FUNDING. (a) Liquidation Required.--All financial companies put into receivership under this title shall be liquidated. No taxpayer funds shall be used to prevent the liquidation of any financial company under this title. (b) Recovery of Funds.--All funds expended in the liquidation of a financial company under this title shall be recovered from the disposition of assets of such financial company, or shall be the responsibility of the financial sector, through assessments. (c) No Losses to Taxpayers.--Taxpayers shall bear no losses from the exercise of any authority under this title.
Said by
Harry Reid
Democratic · Nevada
Source
govinfo.gov
Apr 29, 2010

Editor's note · Context

The speaker is introducing an amendment related to taxpayer funding and financial company liquidation.

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