Fraud Enforcement and Recovery Act of 2009 or FERA - (Sec. 2) Amends the federal criminal code to include within the definition of "financial institution" a mortgage lending business or any person or entity that makes, in whole or in part, a federally related mortgage loan. Defines "mortgage lending business" as an organization that finances or refinances any debt secured by an interest in real estate, including private mortgage companies and their subsidiaries, and whose activities affect interstate or foreign commerce.

Extends the prohibition against making false statements in a mortgage application to employees and agents of a mortgage lending business.

Applies the prohibition against defrauding the federal government to fraudulent activities involving the Troubled Asset Relief Program (TARP) or a federal economic stimulus, recovery, or rescue plan.

Expands securities fraud provisions to cover fraud involving options and futures in commodities.

Expands the concept of monetary proceeds, for purposes of enforcing prohibitions against money laundering, to include gross receipts.

Expresses the sense of Congress with respect to the prosecution of money laundering crimes in combination with other closely-connected offenses. Requires the Attorney General to report to the House and Senate Judiciary Committees on such prosecutions.

(Sec. 3) Authorizes appropriations to the Attorney General for FY2010-FY2011 for investigations, prosecutions, and civil and administrative proceedings involving federal assistance programs and financial institutions. Allocates such funds among various departments of the Department of Justice (DOJ). Requires that an appropriate percentage of such funds be used to investigate mortgage fraud.

Authorizes additional appropriations to the U.S. Postal Service, the Inspector General for the Department of Housing and Urban Development (HUD), the U.S. Secret Service, and the Securities and Exchange Commission (SEC), including the Office of Inspector General, in FY2010-FY2011 for similar investigations.

Requires the Attorney General, in consultation with the U.S. Postal Inspection Service, the Inspector General for HUD, the Secretary of Homeland Security, and the SEC Commissioner [sic], to submit a report to Congress identifying: (1) amounts spent for investigations, with a certification of compliance that funds have been spent in accordance with this Act; and (2) amounts recovered from criminal or civil restitution, fines, penalties, and other monetary recoveries.

(Sec. 4) Amends the False Claims Act to: (1) expand liability under such Act for making false or fraudulent claims to the federal government; and (2) apply liability under such Act for presenting a false or fraudulent claim for payment or approval (currently limited to such a claim presented to an officer or employee of the federal government). Requires persons who violate such Act to reimburse the federal government for the costs of a civil action to recover penalties or damages.

Modifies and expands provisions of the False Claims Act relating to intervention by the federal government in civil actions for false claims, sharing of information by the Attorney General with a claimant, retaliatory relief, and service upon state or local authorities in sealed cases.

(Sec. 5) Establishes in the legislative branch the Financial Crisis Inquiry Commission to examine the causes of the current U.S. financial and economic crisis, taking into account fraud and abuse in the financial sector and other specified factors.

Requires the Commission to submit a final report on its findings to the President and Congress on December 15, 2010. Requires the Commission chairperson to appear before the House Committee on Financial Services and the Senate Committee on Banking, Housing, and Urban Affairs within 120 days after the submission of such report. Terminates the Commission 60 days after the submission of such report.

Authorizes appropriations.

Fraud Enforcement and Recovery Act of 2009 or FERA - (Sec. 2) Amends the federal criminal code to include within the definition of "financial institution" a mortgage lending business or any person or entity that makes, in whole or in part, a federally related mortgage loan. Defines "mortgage lending business" as an organization that finances or refinances any debt secured by an interest in real estate, including private mortgage companies and their subsidiaries, and whose activities affect interstate or foreign commerce.

Extends the prohibition against making false statements in a mortgage application to employees and agents of a mortgage lending business.

Applies the prohibition against defrauding the federal government to fraudulent activities involving the Troubled Assets Relief Program (TARP) or a federal economic stimulus, recovery, or rescue plan.

Expands securities fraud provisions to cover fraud involving options and futures in commodities.

Expands the concept of monetary proceeds, for purposes of enforcing prohibitions against money laundering, to include gross receipts.

Expresses the sense of Congress with respect to the prosecution of money laundering crimes in combination with other closely-connected offenses. Requires the Attorney General to report to the House and Senate Judiciary Committees on such prosecutions.

(Sec. 3) Authorizes appropriations to the Attorney General for FY2010-FY2011 for investigations, prosecutions, and civil and administrative proceedings involving federal assistance programs and financial institutions. Allocates such funds among various departments of the Department of Justice (DOJ). Requires that an appropriate percentage of such funds be used to investigate mortgage fraud.

Authorizes additional appropriations to the U.S. Postal Service, the Inspector General for the Department of Housing and Urban Development (HUD), the U.S. Secret Service, and the Securities and Exchange Commission (SEC), including the Office of Inspector General, n FY2010-FY2011 for similar investigations.

Requires the Attorney General, in consultation with the U.S. Postal Inspection Service, the Inspector General for HUD, the Secretary of Homeland Security, and the SEC Commissioner, to submit a report to Congress identifying: (1) amounts spent for investigations, with a certification of compliance that funds have been spent in accordance with this Act; and (2) amounts recovered from criminal or civil restitution, fines, penalties, and other monetary recoveries.

(Sec. 4) Amends the False Claims Act to: (1) expand liability under such Act for making false or fraudulent claims to the federal government; and (2) apply liability under such Act for presenting a false or fraudulent claim for payment or approval (currently limited to such a claim presented to an officer or employee of the federal government). Requires persons who violate such Act to reimburse the federal government for the costs of a civil action to recover penalties or damages.

Modifies and expands provisions of the False Claims Act relating to intervention by the federal government in civil actions for false claims, sharing of information by the Attorney General with a claimant, retaliatory relief, and service upon state or local authorities in sealed cases.

(Sec. 5) Establishes in the legislative branch the Financial Crisis Inquiry Commission to examine the causes of the current U.S. financial and economic crisis, taking into account fraud and abuse in the financial sector and other specified factors. Requires the Commission to submit a report on its findings to the President and Congress on December 15, 2010. Requires the Commission chairperson to appear before specified congressional committees within 120 days after the submission of the report.

Provides for the termination of the Commission after the submission of its final report.

Authorizes appropriations.

Title I: Fraud Enforcement and Recovery Act of 2009 - Fraud Enforcement and Recovery Act of 2009 or FERA - (Sec. 2) Amends the federal criminal code to include within the definition of "financial institution" a mortgage lending business or any person or entity that makes, in whole or in part, a federally related mortgage loan. Defines "mortgage lending business" as an organization that finances or refinances any debt secured by an interest in real estate, including private mortgage companies and their subsidiaries, and whose activities affect interstate or foreign commerce.

Extends the prohibition against making false statements in a mortgage application to employees and agents of a mortgage lending business.

Applies the prohibition against defrauding the federal government to fraudulent activities involving the Troubled Assets Relief Program (TARP) or a federal economic stimulus, recovery, or rescue plan.

Expands securities fraud provisions to cover fraud involving options and futures in commodities.

Expands the concept of monetary proceeds, for purposes of enforcing prohibitions against money laundering, to include gross receipts.

Expands money laundering provisions to prohibit the movement of money outside of the United States to avoid taxes.

(Sec. 3) Authorizes appropriations to the Attorney General for FY2010-FY2011 for investigations, prosecutions, and civil proceedings involving federal assistance programs and financial institutions. Allocates such funds among various departments of the Department of Justice (DOJ).

Authorizes additional appropriations to the U.S. Postal Service, the Inspector General for the Department of Housing and Urban Development (HUD), and the U.S. Secret Service for FY2010-FY2011 for similar investigations.

Requires the Attorney General, in consultation with the U.S. Postal Inspection Service, the Inspector General for HUD, and the Secretary of Homeland Security, to submit a joint report to Congress identifying: (1) amounts spent for investigations, with a certification of compliance that funds have been spent in accordance with this Act; and (2) amounts recovered from criminal or civil restitution, fines, penalties, and other monetary recoveries.

Authorizes appropriations to the Securities and Exchange Commission (SEC) for FY2010-FY2011 for investigations and enforcement proceedings involving financial institutions and for the SEC Office of the Inspector General.

(Sec. 4) Amends the False Claims Act to: (1) expand liability under such Act for making false or fraudulent claims to the federal government; and (2) apply liability under such Act for presenting a false or fraudulent claim for payment or approval (currently limited to such a claim presented to an officer or employee of the federal government). Requires persons who violate such Act to reimburse the federal government for the costs of a civil action to recover penalties or damages.

(Sec. 5) Establishes in the legislative branch the Financial Markets Commission to examine the causes of the current U.S. financial and economic crisis, taking into account fraud and abuse in the financial sector and other specified factors. Requires the Commission to submit a report on its findings to the President and Congress on December 15, 2010. Requires the Commission chairperson to appear before specified congressional committees within 120 days after the submission of the report.

Title II: Select Committee on Investigation of the Economic Crisis - (Sec. 202) Establishes as a select committee of the Senate the Select Committee on Investigation of the Economic Crisis.

(Sec. 203) Authorizes the Select Committee to study and investigate the facts and circumstances giving rise to the current U.S. economic crisis and to recommend actions to prevent a recurrence of such crisis.

Requires the Select Committee to submit initial, updated, and final reports on its investigation to the Senate with findings and recommendations.

(Sec. 209) Terminates the Select Committee three months after it submits its final report.

Fraud Enforcement and Recovery Act of 2009 or FERA - (Sec. 2) Amends the federal criminal code to include within the definition of "financial institution" a mortgage lending business or any person or entity that makes, in whole or in part, a federally related mortgage loan. Defines "mortgage lending business" as an organization that finances or refinances any debt secured by an interest in real estate, including private mortgage companies and their subsidiaries, and whose activities affect interstate or foreign commerce.

Extends the prohibition against making false statements in a mortgage application to employees and agents of a mortgage lending business.

Applies the prohibition against defrauding the federal government to fraudulent activities involving the Troubled Assets Relief Program (TARP) or a federal economic stimulus, recovery, or rescue plan.

Expands securities fraud provisions to cover fraud involving options and futures in commodities.

Expands the concept of monetary proceeds, for purposes of enforcing prohibitions against money laundering, to include gross receipts.

Expands money laundering provisions to prohibit the movement of money outside of the United States to avoid taxes.

(Sec. 3) Authorizes appropriations to the Attorney General for FY2010-FY2011 for investigations, prosecutions, and civil proceedings involving federal assistance programs and financial institutions. Allocates such funds among various departments of the Department of Justice (DOJ).

Authorizes additional appropriations to the U.S. Postal Service, the Inspector General for the Department of Housing and Urban Development (HUD), and the U.S. Secret Service for FY2010-FY2011 for similar investigations.

Requires the Attorney General, in consultation with the U.S. Postal Inspection Service, the Inspector General for HUD, and the Secretary of Homeland Security, to submit a joint report to Congress identifying: (1) amounts spent for investigations, with a certification of compliance that funds have been spent in accordance with this Act; and (2) amounts recovered from criminal or civil restitution, fines, penalties, and other monetary recoveries.

(Sec. 4) Amends the False Claims Act to: (1) expand liability under such Act for making false or fraudulent claims to the federal government; and (2) apply liability under such Act for presenting a false or fraudulent claim for payment or approval (currently limited to such a claim presented to an officer or employee of the federal government). Requires persons who violate such Act to reimburse the federal government for the costs of a civil action to recover penalties or damages.

Fraud Enforcement and Recovery Act of 2009 or FERA - Amends the federal criminal code to: (1) redefine "financial institution" to include a mortgage lending business; (2) define "mortgage lending business" for criminal law purposes; (3) prohibit false statements in mortgage applications by employees and agents of a mortgage lending business; (4) prohibit fraudulent activities related to the Troubled Assets Relief Program (TARP) or a federal economic stimulus, recovery, or rescue plan; (5) expand securities fraud provisions to include fraud involving options and futures in commodities; (6) expand, for purposes of money laundering provisions, the concept of monetary proceeds to include gross receipts; and (7) expand money laundering provisions to prohibit the movement of money outside of the United States to avoid taxes.

Authorizes appropriations to the Attorney General for FY2010-FY2011 for investigations, prosecutions, civil proceedings involving federal assistance programs and financial institutions. Authorizes additional appropriations to the U.S. Postal Service and to the Inspector General for the Department of Housing and Urban Development (HUD) for similar investigations.

Amends the False Claims Act to: (1) expand liability under such Act for making false or fraudulent claims to the federal government; and (2) repeal the requirement that false claims be presented to a government employee. Requires persons violating such Act to reimburse the federal government for the costs of a civil action to recover penalties or damages under such Act.