I 
111TH CONGRESS 
1ST SESSION H. R. 1575 
To authorize the Attorney General to limit or recover excessive compensation 
paid or payable by entities that have received Federal financial assistance 
on or after September 1, 2008. 
IN THE HOUSE OF REPRESENTATIVES 
MARCH 17, 2009 
Mr. CONYERS (for himself, Mr. COHEN, Mr. NADLER of New York, Mr. 
DELAHUNT, Mr. JOHNSON of Georgia, Mr. PIERLUISI, Ms. FUDGE, and 
Mr. TONKO) introduced the following bill; which was referred to the Com-
mittee on the Judiciary 
A BILL 
To authorize the Attorney General to limit or recover exces-
sive compensation paid or payable by entities that have 
received Federal financial assistance on or after Sep-
tember 1, 2008. 
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 ‘‘End Government Re-
imbursement of Excessive Executive Disbursements (End 
GREED) Act’’. 
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SEC. 2. STATEMENT OF AUTHORITY. 
Congress hereby elects to use its authority under arti-
cle I, section 8, clause 4, and article I, section 8, clause 
18, of the Constitution— 
(1) to establish a uniform law on bankruptcy 
that applies to entities that have received extraor-
dinary financial assistance from the United States 
on or after September 1, 2008, and 
(2) to authorize the Attorney General of the 
United States (hereinafter in this Act referred to as 
the Attorney General), after consultation with the 
Secretary of the Treasury (hereinafter in this Act 
referred to as the Secretary)— 
(A) to seek recovery of previous excessive 
payments of compensation made by such enti-
ties after receiving such assistance, and 
(B) to limit excessive payments of com-
pensation to be made by such entities. 
SEC. 3. RECOVERY OF EXCESSIVE COMPENSATION. 
(a) REVIEW OF CONTRACTS AND PAYMENTS.—The 
Attorney General, after consultation with the Secretary, 
on behalf of the Government may review any employment 
contract made by a recipient entity, and any payment 
made on or after September 1, 2008, by a recipient entity 
to an employee. 
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(b) CIVIL ACTION FOR FRAUDULENT TRANSFER.— 
The Attorney General may commence a civil action in an 
appropriate district court of the United States to avoid 
any payment made by a recipient entity to an employee 
(including a payment under an employment contract) that 
was made on or after September 1, 2008, if such entity 
received less than a reasonably equivalent value in ex-
change for such payment and such entity— 
(1) was insolvent on the date that such pay-
ment was made, not taking into account any— 
(A) line of credit, 
(B) loan, or 
(C) payment in exchange for stock of such 
entity, 
received by such entity from the United States on or 
after September 1, 2008, or 
(2) was engaged in business or a transaction, or 
was about to engage in business or a transaction, for 
which property remaining in the recipient entity was 
an unreasonably small capital. 
For purposes of this subsection, the Attorney General may 
avoid any transfer of an interest of a recipient entity in 
property, or any obligation incurred by such entity, that 
is avoidable under applicable law by a creditor holding an 
unsecured claim against such entity. 
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