Transcript: Rep. Charles Rangel's Remarks on Controversial Academic Center

The other one was Jack (sic) Greenberg, who while he was the executive director and (inaudible) the CEO of AIG -- that's the American Insurance Group -- the only discussions I've ever had with him was our shared experience in Korea, where we both earned the Bronze Star. And in talking and writing the letter to him, again, he was known, as he is in the philanthropic world, as the CEO of Starr Foundation, which is one of the largest in the country.

The third exception is Don Trump, who on that letter, which was one of the letters that I know is in the possession of The Washington Post, is a handwritten note that I'm sending him the material as he requested. And, of course, he has no issue before the committee.

RANGEL: I might add that one of the people that have been out there encouraging contributions, private and public, has been the longtime district attorney of New York County, in terms of this.

All of my public life, I have felt that there has been such a gap between the ability to get an education and success in America. And I've spent a lot of time in the Ways and Means Committee trying to encourage the private sector to make more of a contribution in terms of working with the education resources we have in this country, because I truly believe -- unlike some people, Condoleezza Rice and I believe that lack of education is a threat to our national security.

And I'm just so proud of the almost monthly meetings I have with the Business Roundtable, not just in talking about trade, but encouraging and asking them to fulfill a bigger obligation to their local and public and private institutions of learning.

I have been so pleased with my pushing this issue that in New York, General Electric, I think they made a $35 million commitment, but it's certainly $17 million went to our teachers' college and to our kids. Pfizer has made national contributions.