August 1, 1994 - Part 4
August 1, 1994 - Part 4
(15:10:54) Ms. KULKA. Mr. Altman applied no pressure. I felt no pressure from him on this matter. I didn't find that his instructions were' anything more to do other than what I would have done without his instructions, which was to proceed normally. Senator KERRY. Whether or not Mr. Altman was there, with re-' spect to your responsibilities for this case, was, in effect, irrelevant Was that your testimony? Ms. KuLKA, I don't know if it would have eventually been irrelevant. If he were the deciding person, he would have had that responsibility. But at that point, it had no impact. Senator KERRY. Could Mr. Altman have directed you to tube this case, to just forget it? Ms. KULKA. I would not be at the RTC if anyone were to do that Senator KERRY. Mr. Ryan? an? Mr. RYAN. I agree with Ms. Kulka. Senator KERRY. The only way he would have had an impact would be to, in effect, rule unilaterally on the case, conceivably, against your wishes. Ms. KuLKA. I have a right to concur or not to concur in any decision to proceed in a matter like this, and so it would presumably require a decision of the client plus the senior lawyer on it,, and story of Senator KERRY. We're pledged to try to tell the full story of Whitewater to the American people and there is obviously this whole issue of what happened with respect to Mr. Altman and the White House. But there are also issues with respect to the RTC and how we got here, and I'd just like to ask a few questions, in particular, about that. When did Madison Savings & Loan go into receivership? Ms. KULKA. Are you addressing- Senator KERRY. Any of you who could answer that. Ms. KULKA. I believe it was the early part of 1989. Senator KERRY. That is when we set up the RTC. Correct? Ms. KuLKA. I think it went into receivership prior to the creation of the RTC and the FDIC was appointed as managing agent. Senator KERRY. Is it not true that civil investigations or possible civil liability of Madison was investigated then? 83 Ms. KuLKA. Yes, sir. Senator KERRY. Did the RTC do a thorough job of investigating? Ms. KuLKA. I don't know, sir. Senator KERRY. Do you, Mr. Ryan? Mr. RYAN. This predates my arrival at the RTC. Much of that work, in the early days, was done by the FDIC, and it's my understanding that the FDIC did much of that work. Senator KERRY. Mr. Roelle, the Bush Administration chose not to sue anyone in connection with the failure of Madison, didn't it? Mr. ROELLE. No, sir. The Bush Administration didn't make those decisions. The RTC did. Senator KERRY. The RTC. But during that period of time, in 1992 is what I'm saying, before Clinton became President, this case was ruled on, was it not? Mr. RoELLE. I believe it was before 1992, but I'm not sure. Senator KERRY. The statute of limitations ran, did it not? Mr. ROELLE. I don't know, sir. Senator KPRRY. Do you remember, Ms. Kulka? Ms. KULKA. I think there were suits in progress against professionals, such as accountants and other people, that were brought by the agency. I believe they were probably carried forth primarily by the FDIC before there was a separation of legal divisions at the end of 1991. There were certainly no cases brought against directors and officers. Senator KERRY. No case was brought by the RTC in 1989, 1990, 1991, and into 1992 as of March 1992. Correct? Ms. KULKA. No case against directors and officers. Senator KERRY. The case was effectively dead. Is that accurate? Ms. KULKA. I believe it was closed. Senator KERRY. The statute of limitations had run once and it was extended, but it was still effectively closed. Ms. KULKA. That's correct. Senator KERRY. In March 1992, during a Presidential race, an article appears in The New York Times. Correct? Ms. KULKA. I'm sorry, I don't know the exact dates of any of that. Senator KERRY. Mr. Roelle, do you remember that? Mr. ROELLE. I know there were a number of articles during that time. I'm not sure what date they were. Senator KERRY. Do you recall an article on March 8, 1992? Mr. ROELLE. No, sir, I don't recall the specific article on March 8, 1992. Senator KERRY. Do you recall that the Madison case was opened, reopened according to the testimony of Mr. Ryan, the next day after The New York Times article? Do you recall that?