August 2, 1994 - Part 8
August 2, 1994 - Part 8
(19:45:57) Mr. ALTMAN. I think that the people who were around me at the time or at least in this matter, can tell you that I was of two minds. When I went over there, I said to them-by "two minds," I mean I found it a hard decision, and that's why I sought advice. And I asked if there was any legal or ethical requirement to do it, and they said there wasn't. So it was a hard decision and I should have taken it right at the beginning, but I-when I went there I said I've been advised to recuse my self and I intend to take that advice, and albeit with a delay, I did take the advice. And when I did recuse myself, I didn't consult with them and say, "Is it OK?" Senator DOMENICI. Mr. Chairman,' could I take 30 seconds, 40 seconds. Mr. Altman, I just want to wrap this up and say, number one, I may not stay around here the whole evening, wait for another round, but I'm very concerned as to why it took you so Ion& to correct the so-called record. I think you knew maybe as much as 20 days before you corrected the record that you were wrong in your answers to Senator Gramm, Senator D'Amato, myself, and also our good Senator from Missouri. Maybe you could tell us about that. My last point has to do with whether you might be willing to tell us exactlywhy you stayed on in that capacity, Now you would have do I want to know these things and why am I raisin the inconsistencies? Because you would have this Committee believe that you're telling the truth and Ms. Hanson is not. You would have us-convince us you are telling the truth and Josh is not. In fact, YOU. 've done that two or three times already. It is very impor- because somebody is not telling the truth. Mr. ALTMAN, May I have an opportunity to respond? Senator SARBANES. Mr. Altman, we'll give you time to reply, and then we'll immediately go to Senator Moseley-Braun for her question. Mr ALTMAN. Senator, I'm not questioning Ms. Hanson's veracity. I'm just saying we have different recollections. With regard to the ansewer I gave to Senator Bond, which you raised, the answer on February 24, 1 gave him an honest answer and I think the record 484 makes clear that I gave him an honest answer. I did not know of the prior meetings at that time and I think I've presented pretty strong arguments that I didn't. With regard to my answer to Senator Gramm, I thought the question was have you had any communications that relate to the RTC investigation of Madison. Maybe that's not what be meant. I can't know exactly what's in any Senator's mind, and I apologize to Senator Gramm if I took the question to be differently, but that's the way I did take the question, and I gave my best answer. And I do want to say as emphatically as I can, during those 10 minutes that we're talking about on February 24 that we watched on the videotape, I may not have done the best I've ever done but I tried Vest. Senator SARBANES. Senator Moseley-Braun. OPENING COMMENTS OF SENATOR CAROL MOSELEY-BRAUN. Senator MOSELEY-BRAUN. Thank you very much Mr. Chairman. It is getting late and we're getting short-tempered because of the time that's drug out this evening. III try to be straight to the point and specific. Mr. Altman, in January 1993 you took the job as Deputy Treas. ury Secretary and then on or about March 16, 1993, you also took on the job as acting CEO of the RTC. The RTC is not a regulatory agency while Treasury, in many regards, is a regulatory and investigatory agency. My first question to you is, when you first took the job, when you took the job with the RTC were you aware that the Secretary of Treasury serves as Chairman of the Oversight Board for the RTC? Mr. ALTMAN. Yes, Senator, I was. Senator MOSELEY-BRAUN. You described your role as the alter ego, and so when you took the job with the RTC were you aware that the Oversight Board and, therefore, the Treasury was specifically excluded from involvement in case- specific matters? Mr. ALTMAN. Well, Senator, when I described myself as alter ego that's within the Treasury now, that doesn't have to do with the Oversight Board.