[Congressional Record Volume 154, Number 159 (Wednesday, October 1, 2008)]
[Senate]
[Page S10338]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Ms. SNOWE (for herself and Mrs. Feinstein):
  S. 3677. A bill to establish a Special Joint Task Force on Financial 
Crimes; to the Committee on the Judiciary.
  Ms. SNOWE. Mr. President, I rise in support of legislation that I am 
introducing today to make sure that those responsible for the financial 
meltdown of recent days are brought to justice. Joining me on the bill 
is my distinguished colleague, Senator Feinstein.
  While I congratulate the congressional leadership, especially 
Chairmen Dodd and Frank, and Senators Reid, McConnell, and Gregg, in 
crafting the Emergency Economic Stabilization Act of 2008, one issue 
continues to deeply disturb me and many of my constituents. 
Specifically, I refer to accountability and the importance of bringing 
criminals to justice.
  In my view, today's economic turmoil did not happen by pure chance, 
and I am troubled that certain greedy individuals may have crossed the 
line into criminal activity.
  Clearly, no one should reap rewards from this colossal failure, and 
those responsible on Wall Street should follow the Enron criminals 
straight to jail. The pursuit and prosecution of those liable for this 
meltdown must receive the highest possible level of attention, and this 
legislation dedicates a Special Task Force on Financial Crimes within 
the Justice Department whose sole mission is to ferret out those 
directly involved in engineering this catastrophe.
  The congressional pursuit of answers--through hearings that Senator 
Dodd has indicated he will hold--should occur in tandem with the legal 
investigation and prosecution of those responsible for this debacle. 
Both must receive the same rigorous attention applied to this rescue 
package--and not be subsumed by the routine of the day-to-day 
legislative and criminal investigation process moving forward.
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