To impose certain limits on the exercise by the Secretary of the Treasury of certain actions under any other Act which authorizes the Secretary to purchase troubled assets, and for other purposes.

Sponsor introductory remarks on measure. (CR E2083)

Congressional Research Service

Official summary

Version 00 · Introduced in House · Sep 26, 2008

Prohibits the use of any funds made available under any Act authorizing the Secretary of the Treasury to purchase troubled assets to provide income for any senior officer of any company, entity, or partnership that receives credit or other direct assistance under such Act.

Authorizes the Secretary to terminate the employment of any such senior officer who receives credit or direct assistance under any such Act.

Defines "senior officer" as any chairman of the board, chief executive officer, chief financial officer, managing partner, or any individual deemed by the Secretary as having primary management or financial authority over the company, entity, or partnership before the receipt of credit or direct assistance under any such Act.

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People & committees

Who introduced it

Rep. Kirk, Mark Steven [R-IL-10] · R–IL

Committees

Financial Services Committee

6 cosponsorship records, including any withdrawals

Legislative record

Actions

A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.

Sep 27, 2008
Sponsor introductory remarks on measure. (CR E2083)
Sep 26, 2008
Referred to the House Committee on Financial Services.
Sep 26, 2008
Introduced in House
Sep 26, 2008
Introduced in House

Primary sources

Bill text & related measures

Text links open the official source. We currently store references to these documents.

Introduced in House · Sep 26, 2008 Formatted Text PDF Formatted XML

Related bills identified by Congress.gov

No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.

Source last updated: Feb 6, 2024. Consult Congress.gov for the current record.

AI Conversation Starters

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Neutral evidence review

Objective

Analyze H.R.7119 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

View full prompt & sources

Discuss H.R.7119, 110th Congress: To impose certain limits on the exercise by the Secretary of the Treasury of certain actions under any other Act which authorizes the Secretary to purchase troubled assets, and for other purposes.

Official record: https://www.congress.gov/bill/110th-congress/house-bill/7119

Text version to examine: Introduced in House · 2008-09-26.

Official full text: https://www.congress.gov/110/bills/hr7119/BILLS-110hr7119ih.htm

Imported record last updated by the source: 2024-02-06T19:40:15Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Analyze H.R.7119 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

Fairness and public impact

Progressive lens

Examine H.R.7119 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

View full prompt & sources

Discuss H.R.7119, 110th Congress: To impose certain limits on the exercise by the Secretary of the Treasury of certain actions under any other Act which authorizes the Secretary to purchase troubled assets, and for other purposes.

Official record: https://www.congress.gov/bill/110th-congress/house-bill/7119

Text version to examine: Introduced in House · 2008-09-26.

Official full text: https://www.congress.gov/110/bills/hr7119/BILLS-110hr7119ih.htm

Imported record last updated by the source: 2024-02-06T19:40:15Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.7119 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

Institutions and government scope

Conservative lens

Examine H.R.7119 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

View full prompt & sources

Discuss H.R.7119, 110th Congress: To impose certain limits on the exercise by the Secretary of the Treasury of certain actions under any other Act which authorizes the Secretary to purchase troubled assets, and for other purposes.

Official record: https://www.congress.gov/bill/110th-congress/house-bill/7119

Text version to examine: Introduced in House · 2008-09-26.

Official full text: https://www.congress.gov/110/bills/hr7119/BILLS-110hr7119ih.htm

Imported record last updated by the source: 2024-02-06T19:40:15Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.7119 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

Individual rights and government power

Liberty lens

Examine H.R.7119 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.

View full prompt & sources

Discuss H.R.7119, 110th Congress: To impose certain limits on the exercise by the Secretary of the Treasury of certain actions under any other Act which authorizes the Secretary to purchase troubled assets, and for other purposes.

Official record: https://www.congress.gov/bill/110th-congress/house-bill/7119

Text version to examine: Introduced in House · 2008-09-26.

Official full text: https://www.congress.gov/110/bills/hr7119/BILLS-110hr7119ih.htm

Imported record last updated by the source: 2024-02-06T19:40:15Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.7119 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.