Page:Emergency Economic Stabilization Act of 2008.djvu/70

 O:k4YOk4YO0 8 C0 4.xaxd 1 2 3 4 5 6 7 8 9 10 11 70 (ii) by adding at the end the fol- lowing: "Such actions may include making payments, which shall be accepted as pay- merit in fMll of' all indebtedness under the eligible mortgage, to any holder of' an ex- isting subordinate mortgage, in lieu of' any fVture appreciation payments authorized under subparagraph (B)."; and (2) in subsection (w), by inserting after "ad- ministrative costs" the following: "and payments pursuant to subsection (e)(4)(A)". 12 SEC. 125. CONGRESSIONAL OVERSIGHT PANEL. 13 (a) ESTABLISHMENT. There is hereby established 14 the Congressional Oversight Panel (hereafter in this sec- 15 tion referred to as the "Oversight Panel") as an establish- 16 merit in the legislative branch. 17 (b) DUTIES. The Oversight Panel shall review the 18 current state of' the financial markets and the regulatory 19 system and submit the following reports to Congress: 20 21 22 23 24 (1) REGULAR REPORTS.-- (A) IN GENERAL. Regular reports of the Oversight Panel shall include the following: (i) The use by the SecretroT of au- thority under this Act, including with re-

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