Congressman Sander Levin

Dear Secretary Paulson and Chairman Bernanke:

We write to express strong concerns about AIG’s possible misuse of federal taxpayer funds. 

It has come to our attention that, after the Federal Government provided a loan of $85 billion to AIG, the AIG executives hosted a lavish $440,000 retreat at the St. Regis Resort in Monarch Beach, California.  Even more troubling, the day after this was revealed to the House Oversight and Government Reform Committee, the New York branch of the Federal Reserve announced it will borrow $37.8 billion in investment-grade securities from AIG in exchange for cash.

At a time when many of our constituents have serious concerns about their own financial security, we demand that you ensure that no taxpayer funds were used by AIG to host this retreat.  If taxpayer funds were used, we demand that AIG repay the American people in full.  It is crucial that the American people be able to trust the actions of the Federal Reserve and the Treasury.

Sincerely,

Vernon J. Ehlers
James Oberstar
David G. Reichert
Chris Van Hollen
Michael Castle
Kirsten Gillibrand
Joe Knollenberg
Gwen Moore
Mark Kirk
Adam Schiff
Tim Walberg
Shelley Berkley
Christopher Shays
Ed Perlmutter
Judy Biggert
Brian Higgins
John R. “Randy” Kuhl
James McGovern
Howard “Buck” McKeon
Steve Cohen
Candice Miller
Patrick Murphy
Jim Ramstad
Janice Schakowky
John Sullivan
Sander Levin
W. Todd Akin
Peter Welch
Michael McCaul
Raul Grijalva
Dave Camp
David Loebsack
David Dreier
Better Sutton
Rodney Alexander
Michael Michaud
Tim Murphy
Dale Kildee
Bob Inglis
Solomon Ortiz
Mary Bono Mack
Eliot Engel
Ric Keller
Rosa DeLauro
Joseph Pitts
Nita Lowey
Virginia Foxx
Tim Holden
Doug Lamborn
Bob Filner
Kay Granger
Maurice Hinchey
Louie Gohmert
Mike McIntyre
Todd Platts
Tammy Baldwin
Henry Brown, Jr.
Timothy Johnson
Thomas Allen
Sam Johnson
Greg Walden
Michael Simpson
Michael Burgess
Donald Manzullo
John Kline
Fred Upton
Shelly Moore Capito
Mark Souder
Joe Wilson
Peter Hoekstra
Marilyn Musgrave
Bob Goodlatte
Pete Sessions
Dan Burton
Jeff Fortenberry
Elton Gallegly
Virgil Goode, Jr.
Walter B. Jones
Thaddeus McCotter
John McHugh
Jerry Moran
Jo Ann Emerson
Christopher Smith
Frank LoBiondo
Ralph Hall
John Shimkus
Lee Terry
Terry Everett
Neil Abercrombie

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