Net Worth Certificate Program Act of 2008

Summary

Net Worth Certificate Program Act of 2008 - Directs the Chairman of the Federal Deposit Insurance Corporation (FDIC) to create a net worth certificate program that will settle the financial markets without significant expense to taxpayers. States that such program will be authorized to purchase net worth certificates by issuing FDIC senior notes to the banks in the form of subordinated debentures, or in any other form the Chairman determines meets program goals and requirements. Requires the Chairman to certify that a bank eligible for the program is both: (1) in danger of failing; and (2) could be viable if given more time. Requires the Chairman to issue new, strict supervision rules for banks that wish to enter the program, including oversight of top executive compensation and removal of poor management.

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Timeline

1. 29 September 2008

   Introduced

   Referred to the House Committee on Financial Services.

   Source: IntroReferral

2. 29 September 2008

   Introduced

   Introduced in House

   Source: IntroReferral

3. 29 September 2008

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 29 September 2008 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 29 September 2008

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 29 September 2008

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 29 September 2008

  Open at official source

Sponsors

• Rep. Shadegg, John B. [R-AZ-3] · R · Sponsor
• Rep. Kingston, Jack [R-GA-1] · R · Sponsor
• Peter Roskam · R · Sponsor
• Rep. Deal, Nathan [R-GA-9] · R · Sponsor
• Jeff Fortenberry · R · Sponsor
• Rep. Gingrey, Phil [R-GA-11] · R · Sponsor
• Rep. Westmoreland, Lynn A. [R-GA-3] · R · Sponsor
• Rep. Bachmann, Michele [R-MN-6] · R · Sponsor
• Rep. Sali, Bill [R-ID-1] · R · Sponsor
• Rep. Weldon, Dave [R-FL-15] · R · Sponsor
• Louie Gohmert · R · Sponsor
• Virginia Foxx · R · Sponsor
• Rep. Drake, Thelma D. [R-VA-2] · R · Sponsor
• Rep. Garrett, Scott [R-NJ-5] · R · Sponsor
• Pete Sessions · R · Sponsor
• Stevan Pearce · R · Sponsor
• Rep. Akin, W. Todd [R-MO-2] · R · Sponsor
• Rep. Hoekstra, Peter [R-MI-2] · R · Sponsor
• Rep. Rogers, Mike J. [R-MI-8] · R · Sponsor
• Rep. Barrett, J. Gresham [R-SC-3] · R · Sponsor
• Sen. Flake, Jeff [R-AZ] · R · Sponsor
• Marsha Blackburn · R · Sponsor
• KEVIN BRADY · R · Sponsor
• John Carter · R · Sponsor
• Rep. McCaul, Michael T. [R-TX-10] · R · Sponsor
• PATRICK TIBERI · R · Sponsor
• Rep. Brown-Waite, Ginny [R-FL-5] · R · Sponsor
• SAM JOHNSON · R · Sponsor
• Steve King · R · Sponsor
• Rep. Manzullo, Donald A. [R-IL-16] · R · Sponsor
• F. SENSENBRENNER · R · Sponsor
• Rep. Feeney, Tom [R-FL-24] · R · Sponsor
• Rep. Biggert, Judy [R-IL-13] · R · Sponsor
• Rep. Doolittle, John T. [R-CA-4] · R · Sponsor
• Rep. McCotter, Thaddeus G. [R-MI-11] · R · Cosponsor
• · hsba00 · Standing

Related records

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