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Ehlers Demands AIG Repay Misused Taxpayer Funds

Press Release

Date: Oct. 10, 2008
Location: Washington, DC
Issues: Monetary Policy



Letter to Treasury Secretary and Fed Chairman outlines concerns about luxurious retreat for AIG execs

Congressman Vernon J. Ehlers (R-MI) is urging his colleagues in Congress to join him in signing a letter he wrote to Treasury Secretary Henry Paulson and Federal Reserve Board Chairman Ben Bernanke expressing concern over the use of taxpayer funds by American International Group (AIG). Executives from the insurance giant hosted a lavish $400,000 retreat at a California resort, which occurred just days after AIG received an $85 billion loan from the federal government.

"At a time when many of my constituents have serious concerns about their own financial security, we demand to know whether taxpayer funds were used in this retreat," said Congressman Ehlers in the letter. "If taxpayer funds were used, we demand that AIG repay the American people in full."


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