Today I have signed
into law S. 386, the "Fraud
Enforcement and
Recovery Act of 2009." This Act provides Federal investigators and
prosecutors with significant new criminal and civil tools to assist in
holding accountable those who have committed financial fraud. These
legislative enhancements will help the Department of Justice to combat
mortgage fraud, securities and commodities fraud, and related offenses,
and to protect taxpayer money that has been expended on recent economic
stimulus and rescue packages. With the tools that the Act provides, the
Department of Justice and others will be better equipped to address the
challenges that face the Nation in difficult economic times and to do
their part to help the Nation respond to this challenge.
Section
5(d) of the Act requires every department, agency, bureau, board,
commission, office, independent establishment, or instrumentality of
the United States to furnish to the Financial Crisis Inquiry
Commission, a legislative entity, any information related to any
Commission inquiry. As my Administration communicated to the Congress
during the legislative process, the executive branch will construe this
subsection of the bill not to abrogate any constitutional privilege.
BARACK OBAMA
THE WHITE HOUSE,
May 20, 2009.