August 2, 1994 - Part 8
August 2, 1994 - Part 8
(19:20:25) Mr. ALTMAN. Well, only 3 weeks passed between the beginning and the end, and it wasn't an easy decision. I should have done it at the beginning, but I don't think it's surprising to have taken 3 weeks on a relatively complex decision like that. Senator ROTH. Mr. Altman, you testified in your deposition that the White House staff did not have a position on the issue of your recusal; is that correct? Mr. ALTMAN. I think what I said was that no one asked me not to recuse, no one told me it was unacceptable, no one said please don't do it. I believe that the chronology that Mr. Cutler released based on his interviews of all of the participants was such that they all said it was understood that it was my decision to make it and it was a personal decision. Senator ROTH. Now, in Margaret Williams' deposition, she states that she told you at this meeting, and I quote: I said, Wen, if you're going to accept whatever recommendations they give you, why should you recuse. And then I kind of launched into this thing about everybody in the world was recusing and you know you're a person of integrity plus you're going to take the recommendations of staff anyway, so why bother, Do you recall this statement being made by Ms. Williams? Mr. ALTMAN. I did not recall that until I saw it, I think in Mr. Cutler's chronology, but she may well have said that. Senator ROTH. And Jean Hanson stated in her deposition about this issue that Mr. Nussbaum, in your presence and Ms. Hanson's, argued that a fairer result would be obtained if Altman did not recuse himself and Altman agreed to consider the issue overnight. She goes on, and I quote: I recall Mr. Nussbaum saying that he thought that if Mr. Altman did not recuse himself, that it would impose discipline on the process to obtain a fairer result and I recall Mr. Altman saying he would think about it overnight and Mr. Nussbaum saying that's all we can ask. Do you recall such a statement by Mr. Nussbaum? Mr. ALTMAN. I don't precisely recall it, but be might have said it, but what I did say again in the meeting, and I remember directing myself to Mr. Nussbaum, was that the RTC General Counsel would be making the decisions on this matter. And I said that unequivocally, and I don't think there is any question but that they understood it. Senator ROTH. It does sound to me that at least two members of the White House staff bad strong opinions about whether you should disqualify yourself from the Madison Guaranty referrals. Mr. ALTMAN. But, Senator, I think, if I can say, the most important point is that I never played any role for that meeting or after that meeting at any time in any decisions relating to Madison. So 477 the meeting had no effect on my role relative to Madison. I had reinvolved myself and I stayed removed. Senator ROTH. Let me turn to the RTUs written response to Banking Committee questions following the February 24 hearing stating it is the policy of RTC not to disclose criminal referrals or information about their preparation on an institution- specific basis. Mr. Altman, are you aware of that policy? Mr. ALTMAN. I'm aware of it now, Senator. Senator ROTH. Were you not aware of it earlier? Mr. ALTMAN. Well, I don't know if I was aware precisely of the policy, but I agree with it. So I understand it and I accept it. Senator ROTH. Were you aware of the fact that under this RTC policy there were no exceptions, including press? Mr. ALTMAN. No, sir, I wasn't. Senator ROTH. Wouldn't it he appropriate as the acting CEO for you to be acquainted with such policies? Mr. ALTMAN. Senator, I testified earlier today, when we started, that my full-time job is Deputy Secretary of the Treasury and my role at the RTC was a very limited role. We bad senior staff. Senator ROTH. But you were the acting CEO, Mr. ALTMAN. Yes, but I bad a very limited role. I never bad any decisionmaking role relative to any investigation or any case, so wasn't exposed in any way to cases and investigations.