I 
111TH CONGRESS 
1ST SESSION H. R. 3995 
To provide additional resources for Federal investigations and prosecutions 
of crimes related to the 2008 Financial Crisis, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
NOVEMBER 3, 2009 
Ms. KAPTUR introduced the following bill; which was referred to the Com-
mittee on the Judiciary, and in addition to the Committee on Financial 
Services, for a period to be subsequently determined by the Speaker, in 
each case for consideration of such provisions as fall within the jurisdic-
tion of the committee concerned 
A BILL 
To provide additional resources for Federal investigations 
and prosecutions of crimes related to the 2008 Financial 
Crisis, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Financial Crisis of 
2008 Criminal Investigation and Prosecution Act of 
2009’’. 
SEC. 2. FINDINGS. 
Congress finds the following: 
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(1) The Federal Bureau of Investigation (FBI) 
has testified that ‘‘today’s financial crisis dwarves 
the S&L crisis as financial institutions have reduced 
their assets by more than $1 trillion related to the 
current global financial crisis compared to the esti-
mated $160 million lost during the S&L crisis.’’ 
(Testimony by Mr. John Pistole, Deputy Director of 
the Federal Bureau of Investigations of the United 
States Department of Justice before the U.S. Senate 
Committee on the Judiciary, February 11, 2009). 
(2) The FBI has testified that mortgage fraud 
was such a major contributor to the current global 
financial crisis that: ‘‘it would be irresponsible to ne-
glect mortgage fraud’s impact on the U.S. housing 
and financial markets’’. 
(3) In the late 1980s and early 1990s, the 
United States experienced a similar financial crisis 
with the collapse of the Savings and Loan institu-
tions. Again, according to Deputy Director Pistole, 
‘‘the Department of Justice (DOJ), [and more spe-
cifically the FBI], were provided a number of tools 
through the Financial Institutions Reform, Recovery 
and Enforcement Act of 1989 (FIRREA) and Crime 
Control Act of 1990 (CCA) to combat the aforemen-
tioned crisis. As stated in Senate Bill 331 dated 
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January 27, 2009, ‘in the wake of the Savings and 
Loan crisis of the 1980s, a series of strike forces 
based in 27 cities was staffed with 1,000 FBI 
agents and forensic experts and dozens of Federal 
prosecutors’.’’. 
(4) Fraud also played a decisive role in the Sav-
ings and Loan crisis. The FBI and Justice Depart-
ment made prosecuting those elite frauds among its 
highest priorities. This took a massive commitment 
of FBI resources, but it produced the most success-
ful prosecution of an epidemic of elite fraud in his-
tory—over 1,000 ‘‘priority’’ felony convictions of 
senior insiders, according to Professor William K. 
Black in his book ‘‘The Best Way to Rob a Bank 
is to Own One’’. 
(5) However, the FBI, because of its crippling 
personnel limitations, has been unable to assign suf-
ficient FBI agents assigned to investigate the cur-
rent global financial crisis. The FBI identified the 
mortgage fraud ‘‘epidemic’’ in congressional testi-
mony in September 2004. It had so few white-collar 
crime specialists available, however, that it was able 
to assign only 120 special agents to mortgage fraud 
cases—less than one-eighth the agents it found es-
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of the law relating to the United States financial 
markets. 
(2) The hiring of additional employees by the 
Attorney General of the Department of Justice to 
prosecute violations of the laws relating to the 
United States financial markets. 
(3) The hiring of additional employees by the 
Chair of the Securities and Exchange Commission 
Division of Enforcement to investigate and prosecute 
violations of the law relating to United States finan-
cial markets. 
SEC. 4. AUTHORIZATIONS. 
There are authorized to be appropriated to carry out 
this Act such sums as necessary for fiscal year 2009, fiscal 
year 2010, fiscal year 2011, and fiscal year 2012. Such 
sums shall be available until obligated. 
Æ 
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