August 2, 1994 - Part 11
August 2, 1994 - Part 11
(00:35:18) Senator KERRY. No. You're reading from the Eggleston memorandum. Mr. BRAUNREUTHER. Yes. Page 6 and page 7, the question is on page 6. Senator DODD. Do we all have copies of this? Senator DOMENICI. So let me read this to you. This is how, I think, they perceived you, as long as-that was your role as a decisionmaker as long as you didn't recuse yourself The question posed in this memo is, and I'm going to read memo number 1: This says, "now that Mr. Altman as acting CEO of the RTC has recused himself from further involvement in the Madison Guaranty matters, who"_'who at the RTC will be the decisionmaker on whether to bring a civil action arising out of the failure of Madison Guaranty." Now, that answer reveals that you were to he the decisionmaker. And again, maybe you didn't believe that, but that's what this White House memo says. You were the decisionmaker. Mr. ALTMAN. Senator, they may have believed that, but they were wrong. Senator DOMENICI. I'm going to et to you and let you answer it. You might very well be the one that doesn't think it but they do and that accounts for the pressure. Let me read on, The answer reveals you were to be the decisionmaker until you recused yourself. Now I'm going to read from the memo that I 'have marked out as paragraph 2 and it continues on, and it says, "following his testimony before the Senate Banking Committee on Thursday, Mr. Altman recused himself as acting CEO of the RTC from any further involvement in Madison Guaranty/Whitewater matters. The top official at RTC, who will be making these decisions on Madison Guaranty, is Jack Ryan., Mr. Ryan was formerly with the Office of Thrift Supervision. He is a career official. His principal advisor will be Ellen Kulka, now General Counsel at RTC who also comes from OTS Ms. Kulka is also a career official." I And it continues on. "We intend to nominate a person for the position of CEO of the RTC within the next few weeks. We can participate"-excuse me---"we can anticipate that any person the "President nominates will be pressured to recuse from the Madisonrelated matters. If the person refuses to recuse and if that person is forced to recuse to achieve confirmation, then Jack Ryan will reMain the decisionmaker on Madison matters at RTC." Now, actually, I've been wondering where all this pressure comes ,to keep you there, and I believe this is the answer. And I'm not ,saying you necessarily believe this, but now I believe unequivocally 536 that the decisionmaker was always perceived, the one who decide whether lawsuits were filed in that 3-week period,, thatwere perceived by the White House to be that person. Now you can elaborate, Mr. ALTMAN. Well, my best understanding is that's not consistent with the testimony of the other participants in the meeting. they all said that they got the message in terms of my not playing any role in the case. I think they said that themselves. It's also not consistent with Mr. Steiner's diary where he says every- one agreed that I'd play no role in the case. And also, Senator, on February 11, the Congress of the United States extended the statute of limitations for 2 more years, made the issue completely moot on February 11. Senator DOMENICI. Mr. Mr. ALTMAN. On February 11 the 2-year extension I was not going to play any role, I was stepping down on March 30. Senator DOMENICI. You understand that on February 2 is what I'm talking about, when they talked you out of-when they talked you out of recusing yourself. On February 2, they had no idea at the White House that the statute would be extended on February 11. And let me further confirm for you something very interesting about this memo, OK? This memo was from-it was sent by Harold Ickes-this memo by Harold Ickes to the First Lady. Do you have any comment? Mr. ALTMAN. No, not really. Senator DOMENICI. Thank you. Senator KERRY. Mr. Chairman, if I could say to my friend The CHAIRMAN. Let me just indicate, Senator Moseley-Braun is next in the order and she's been waiting patiently. I want to call on her and if she wants to yield to you, she can. I don't want to Senator MOSELEY-BRAUN. I will be delighted to yield back some time after I ask MY question. I can do that, that's not a problem because I don't think--this shouldn't take too long.