Legislation introduced in House & Senate, Hearings Big Success
• Garrett/Maloney’s HR3482 – Improving Wall Street Investor Protection & Confidence Act – introduced with 25 sponsors, bi-partisan
• Hearings tremendous success: SIPC’s Harbeck pounded by Garrett, Maloney, NIAP’s Stein, and Stanford Victim’s Coalition, Kogutt
• Senators Schumer, Vitter and Landrieu introduce companion bill S.1725 in Senate
Dear NIAP Member & Madoff Investor,
Happy Thanksgiving & Hanukkah Greetings. More than at any time since we began our organization, I’m reaching out to you today with a real sense of optimism about Congress. Not only was the new SIPC legislation (HR3482) introduced in the House last week with more sponsors than expected (and still more lined up), but a companion Senate bill – S. 1725 — was introduced by Senate Banking Committee member David Vitter (R-LA) just before the Holiday deadline. A major success was obtaining co-sponsorship by one of the most powerful members of Congress, Senator Schumer (D-NY). Senator Mary Landrieu (D-LA) also signed on as an original cosponsor.