July 29, 1994 - Part 1
July 29, 1994 - Part 1
(10:32:05) OPENING STATEMENT OF SENATOR PAUL S. SARBANES Senator SABARNES. Thank you very much, Mr. Chairman. Mr. Chairman, I want to commend you. for the care, thoroughness, and fairness with which you have prepared the Committee for these hearings. The Senate first provided for the holding of these bearings, such as the one now taking place, in the sense of a Senate resolution approved last March. In that resolution, it was directed that any such hearings, and I quote: Should be structured Find sequenced in such a manner that they would not interfere with the ongoing investigation of Special Counsel Robert B. Fiske, Jr. In late May, the Independent Counsel, Mr. Fiske, informed Congress that he would soon conclude one portion of his investigation and that a congressional inquiry of matters included in that portion would not interfere with his efforts. Accordingly, on June 9, the Majority Leader, Senator Mitchell, proposed initial hearings that would avoid interference with Mr. Fiske's investig ation, Under Senator Mitchell's proposal, the Senate would conduct hearings on three subjects that were part of the first phase of Mr, Fiske's investigation and which the Independent Counsel indicated he was likely to finish by early summer. On June 21, the Senate passed Senate Resolution 229, which directed this Committee, the Committee on Banking, Housing, and Urban Affairs, and I quote. to: Conduct hearing-, into whether improper conduct occurred regarding one., communications between officials of the White House and the Department of the Treasury or the Resolution Trust Corporation relating to the Whitewater Development Corporation and the Madison A Guaranty Savings & Loan Association Two, the Park Service Police investigation into the death of White House Deputy Counsel, Vincent Foster. And three, the way in which White House officials handled documents in the Office of White House Deputy Counsel, Vincent Foster, at the time of his death, From the Senate resolution. Now, the Senate Banking Committee meets today to carry out the directives contained in that. resolution. Since the, enactment of the resolution, Independent Counsel Fiske has announced that, contrary to his earlier expectations, lie has not concluded his inquiry into the handling of documents in the Office of the White House Deputy Counsel, Vincent Foster. 10 Therefore, consistent with the March 17 Senate resolution that hearings should be structured and sequenced in such a manner that they would not interfere with the ongoing investigation of the Special Counsel, the Committee will not address that issue in these bearings. Next week the Committee will hold an extensive set of hearings to review the communications that took place between officials of the White House and the Department of the Treasury or the Resolution Trust Corporation and the Madison Guaranty Savings & Loan Association. The Committee will have the opportunity, then, to hear from and to question a number of officials as to the propriety of their conduct. In that -regard, it is important to note that on June 30, the Independent Counsel, Mr. Fiske, issued a statement that be bad completed his investigation of contacts between White House and Treasury Department officials and reached the conclusion that the evidence does not justify a criminal Prosecution. Now, of course, I'm mindful that conduct can be improper without being criminal, but it is essential to be clear, I believe, about any question of criminality in, these matters. In his statement, Mr. Fiske concluded, and I quote him: After a review of all the evidence, we have concluded that the evidence is insufficient to establish that anyone within the White House or the Department of the Treasury acted with the intent to corruptly influence an RTC investigation. Therefore, the evidence of the events surrounding the contacts between the White House and the Treasury Department does not justify the prosecution of anyone for a violation of section 1505. We have also concluded that the evidence does not justify a criminal prosecution for violation of any other Federal statute.