Senator Begich Correspondence

Dear Honorable Senator Mark Begich:

Many Americans have become alarmed and disillusioned that the taxpayers’ money distributed under the TARP has been misappropriated once delivered to those businesses, institutes, firms and or individuals in need of financial assistance. The fact that many of these entities are not being honest and forthcoming with respect to where this assistance ended up, there are many Americans that feel it is necessary to litigate in efforts to get that money back, or at least use the threat of litigation as a push for more accountability. Many of us feel that the U.S. government officials involved in this bailout frenzy have been derelict in their duties to address this accountability. Taking NO for an answer is not what we expect from our representation and those sworn to uphold the laws of this land, be it an elected official or a selected official. Therefore it has become necessary to arouse an interest in a class action lawsuit by the American taxpayers against the businesses, institutes, firms and/or individuals that refuse to be forthcoming and honest with respect to the status of this assistance, provided through the U.S. Treasury in efforts to allow the economy to regain ground. To date, with over 250-billion already distributed, there has been no clear-cut sign that the money was used for the sole purposes it was intended upon. Couple that with the fact that refusal of accountability heard from the accepting entities seems to be the normal response when probed, it is suspicious. I correspond with you on this matter and request your assistance, as it is a matter of grave concern to the hard working Americans whose income has been garnished under taxation and re-appropriated as aid under the TARP program. Like any other action at law, a class action lawsuit needs evidence and as a U.S. Senator, we are asking that you provide as much information as possible with respect to what private entities received taxpayer funded financial aid through the TARP along with the distributed amounts. With this information, we will attempt to contact such entities as a last clear chance effort and ask for a detailed account of the status of the assistance, again as a first hand attempt in efforts to eliminate those entities that cooperate, thereby involving only those firms that refuse such information as a defendant in an upcoming class action lawsuit. Again, please find the time and interest to provide as much information as possible with respect to our request, for information that should be readily available to you as a U.S. Senator and your affiliation with the U.S. Treasury Department in your capacity as an elected member of the U.S. Congress. Since the TARP program was orchestrated by and through the U.S. Treasury Department and upon approval of Congress, this information should be readily available and we should not have to resort to a FOIA request, which can be a time consuming and costly endeavor and at the same time confusing and frustrating. In ending, time is of the essence in this matter, as the realization that the financial aid is not doing what it was intended to do warrants this and other action.

Respectfully Submitted;
S. Pam MaGee