[Congressional Record Volume 155, Number 77 (Tuesday, May 19, 2009)]
[Extensions of Remarks]
[Page E1198]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                   FRAUD ENFORCEMENT AND RECOVERY ACT

                                 ______
                                 

                         HON. CHRIS VAN HOLLEN

                              of maryland

                    in the house of representatives

                         Tuesday, May 19, 2009

  Mr. VAN HOLLEN. Madam Speaker, I rise to support the Fraud 
Enforcement and Recovery Act of 2009. This bill will allow us to better 
understand what caused the economic collapse and provide the resources 
necessary to help prevent future economic crises. I applaud Congressman 
John Larson's hard work on this critical legislation.
  This legislation cracks down on mortgage and corporate fraud, which 
have reached historic rates. FBI mortgage fraud investigations have 
more than doubled in the last three years, and massive new corporate 
fraud schemes continue to be uncovered. Congress and the President are 
committed to protecting the American consumer and getting our economy 
back on track, and fighting these abuses is an integral part of this 
effort.
  It will also establish the Financial Crisis Inquiry Commission, which 
will examine the causes and factors that led to the worst financial 
crisis since the Great Depression. The Commission's recommendations 
will help inform Congress as we move forward with common sense reforms 
to prevent these crises from happening in the future.
  The Fraud Enforcement and Recovery Act of 2009 includes a clear 
commitment to fighting waste, fraud and abuse--a commitment that has 
become a hallmark of this Congress. We are working with the President 
every day to rebuild our economy in a way that is consistent with our 
values of hard work, responsibility and broadly shared prosperity. I 
urge my colleagues to join me to continue this work.

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