Kaufman on Financial Fraud Enforcement Task Force

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November 17, 2009 -- WASHINGTON, DC – Senator Ted Kaufman (D-DE), a member of the Senate Judiciary Committee, released the following statement after the Obama Administration’s announcement of a Financial Fraud Enforcement Task Force earlier today:

“I applaud the President’s creation today of an interagency Financial Fraud Enforcement Task Force. As I’ve said since my first week in office, we need to hold accountable the people and institutions whose criminal behavior contributed to the worst financial crisis in my lifetime. That is the only way for investors and the public again to have confidence in the financial markets.”

“Just as critical, we must deter those in the mortgage industry, on the trading desks, and in the board rooms, who in the future might be tempted to put greed ahead of the law, thus setting the stage for another meltdown.”

As U.S. Attorney General Eric Holder outlined, the Task Force will take full advantage of the new legislative authorities provided in the Fraud Enforcement and Recovery Act (FERA) , which Sen. Kaufman introduced with Sens. Patrick Leahy (D-VT) and Chuck Grassley (R-IA) and was signed into law by President Obama on May 20.

Source: Senator Ted Kaufman