Last week, Federal Reserve Board Chairman Ben Bernanke and Treasury Secretary Tim Geithner testified before the House Financial Services Committee on which I serve.  Their purpose was to discuss the "government’s intervention in American International Group (AIG)."

As you know, American taxpayers stepped in to save AIG from total collapse because of its pivotal role in the economy. It's estimated that the taxpayers' overall investment in AIG is more than $170 billion.
 
As the recent controversy over large bonuses paid to some AIG executives makes clear, it is essential that the taxpayers get a full accounting for how their money is being used.

If you would like to see the testimony submitted by Chairman Bernanke, Secretary Geithner or the recent analysis conducted by the Government Accountability Office (GAO), you can find it on my Web site's blog by clicking here.

Food Safety Caucus

As you may recall, I have introduced legislation that modernizes our food safety laws by giving the FDA new tools.  I am pleased to let you know that this bipartisan measure has 27
co-sponsors at this writing.  In addition, the topic of food safety is building momentum.  Most recently a congressional Food Safety Caucus has formed, of which I am a member.

I believe the way to guarantee the safety of our food is to bring all the people responsible: growers, processors, sellers, consumers, and safety experts to the table to develop workable improvements.  So far, the proposal I introduced with U.S. Rep. Jim Costa (D-Calif.), the Safe FEAST Act has earned important support from farmers and food industry organizations.  To keep up with the latest on this important issue, you can visit my Website and look in the section called Legislative News Kits.  There you will find a section devoted to the Safe FEAST act, complete with videos and the latest news on this important legislation.