I 111th CONGRESS 1st Session H. R. 1893 IN THE HOUSE OF REPRESENTATIVES April 2, 2009 Mr. Bachus (for himself and Mr. LaTourette) introduced the following bill; which was referred to the Committee on Financial Services A BILL To prohibit any person which sells to or otherwise disposes of any asset through a public-private investment program, including the Public-Private Investment Program for Legacy Assets, from purchasing or otherwise acquiring any other asset from or through such programs, and for other purposes.

1.

Short title

This Act may be cited as the Anti-Gaming and Collusion in Public-Private Investment Program Act.

2.

Prohibition on Double-Dipping

Notwithstanding any other provision of law and in order to limit conflicts of interest and to prevent arbitrage, churning, or hedging activities through the use of taxpayer money, no person who— (1)sells or otherwise disposes of any asset to or through any public-private investment program, including the Public-Private Investment Program for Legacy Assets established by the Secretary of the Treasury, in conjunction with the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation, may purchase or otherwise acquire any other asset from or through any such program; and (2)purchases or otherwise acquires any asset from or through any such program may sell or otherwise dispose of that or any other asset to or through any such program.