Dear Messrs. Paulson and Bernanke

Dear Messrs. Paulson and Bernanke:

This is to request Federal assistance for East Coast Aero Club. We operate a flight school at Hanscom Field in the Boston suburbs. We are concerned that most of our customers have had a significant portion of their savings and retirement funds wiped out by Wall Street. These folks may not be able to afford flying lessons and aircraft rental anymore. Certainly the financial crisis has resulted in a drop in executive compensation. We are not able to pay our CEO the $50 million per year that he deserves, having kept the school in operation for more than 20 years.

Given that we have 27 airplanes and helicopters and a staff of five full-time mechanics, I think it is safe to say that we are regarded as “too big to fail”, at least by pilots at Hanscom (KBED). We believe an $85 billion loan would enable us to continue to operate, compensate executives appropriately, and give customers faith in our stability.

In exchange for $85 billion, we would be happy to give the Federal government warrants to purchase 80 percent of the stock in our company. We would promise to purchase our insurance only from the Federally-backed AIG and our ground vehicles only from the soon-to-be-Federally-bailed-out GM and Ford. We will rework our payscale to be consistent with Fortune 500 norms. Our flight instructors will therefore earn 1/430th of the CEO’s salary (source). As our CEO will be earning $50 million per year, this will give our CFIs enough income to take out a mortgage from the once-again-Federally-owned Fannie Mae.

Thank you for considering our request.

Philip Greenspun, Helicopter Instructor