July 29, 1994 - Part 1
July 29, 1994 - Part 1
(10:13:34) In this regard a current White House Counsel, Lloyd Cutler, who has reviewed this matter for the President, has just testified before the House, and I quote: It would have been better if some of the issues that arose had been handled differently, and that the White House Again quoting Mr. Cutler: Did not meet as high a performance standard as they should have. Finally, and very importantly, the Committee must also review prior testimony presented to this Committee with respect to contacts between the White House and the Treasury or the RTC on this matter. On February 24, 1994, Mr. Roger Altman, Deputy Secretary of the Treasury, testified before this Committee and was asked directly about these contacts. Jean Hanson of that Department, and other knowledgeable witnesses who we'll hear from next week, 'were also present in that room that day. As Chairman of this Committee, it is a matter of special importance to me that all the testimony before this Committee be accurate, complete and -fully responsive to the questions posed by Senators. We will review the February 24th testimony against that standard. Let me now briefly indicate the scale of effort we've applied in order to meet the requirements of the institution of Senate Resolution 229. That resolution instructed our Committee to conduct this investigation in just 5 weeks. To meet this very demanding timetable we quickly assembled a seasoned legislative team that has worked every day since the beginning and we established the various methods and procedures that we would apply. We have since received and evaluated 'Independent Counsel Fiske's public report and much of the background material that he has assembled. We've analyzed relevant documents amounting now to more than 10,000 pages from at least five agencies and a number of individuals. We have also deposed under oath 37 persons relevant to this inquiry, many of whom will be testifying today and in the days just ahead. In conclusion, it is now our task to lay out, in a balanced and orderly fashion, the flow of events as they actually took place and let the facts speak for themselves. When all the testimony has been presented and fully evaluated, these matters can be judged in their entirety and the conduct of individuals weighed accordingly. Based upon our findings, we will also consider the degree to which additional safeguards or changes in administrative practices and procedures may be needed and will report all our findings and recommendations to the full Senate. Let me now yield to Senator D'Amato for his opening statement.