August 2, 1994 - Part 11
August 2, 1994 - Part 11
(00:55:34) Senator BENNETT. Now, in your opening statement, you say on page 11 "around that same time, I literally ran into Mr. Nussbaum in a corridor of the White House. He told me the Administration would soon be submitting its' nominee for permanent RTC head." Mr. ALTMAN. I'm sorry, Senator. Senator BENNETT, From your opening statement, "around that same time, I literally ran into Mr. Nussbaum in a corridor of the White House. He told me the Administration would soon be submitting its' nominee for permanent RTC head." Is that still your recollection? Mr. ALTMAN. Yes, sir. Senator BENNETT. You're aware that Mr. Nussbaum has testified that you told him, quoting from Mr. Nussbaum's testimony, "I believe that Mr. Altman told me in late February, in another brief conversation, that a Washington lawyer, Larry Simons, was likely to be nominated to bead the RTC." Mr. ALTMAN. I don't understand that at all, because Mr. Nussbaum had no need to learn that from me. That was already under discussion at great length at the White House. He would have known that without my telling him. Senator BENNETT. Who conducted the Executive search, the White House or the RTC? Mr. ALTMAN. Well, the Treasury and the White House generally work together in terms of the list of candidates and narrowing it down and ultimately selecting Mr. Simons, subject, of course, to background work and vetting and subject to the views of several Senators, Senator D'Amato, Senator Riegle, Senator Dodd, and others whom we thought we should check with. But when I ran into Mr. Nussbaum a day or two before my February 22 testimony, he undoubtedly knew that sometime earlier, Borne considerable time earlier. Senator BENNETT, That confuses me even more. Mr. ALTMAN. I think when he's here-he is coming here, isn't be? Senator BENNETT. Yes. Mr. ALTMAN. I think when he's here--I can't swear to it-he'll clear that up because be didn't find that out the day or two before testimony when we ran into each other. He found that out much earlier, or I think be did. Senator BENNETT. Well, we'll just have to Mr. ALTMAN. Also, Senator, it wasn't my responsibility or, for matter, the Treasury's responsibility to send the nomination Senator BENNETT. All right. We'll just have to straighten that because there's a discrepancy. Your recollection is different on face of the testimony from his recollection. 542 If I could go back just quickly to my earlier questions about being informed about cases, give you one more opportunity to comment on that, would you please distinguish between being advised about ongoing, investigations and being informed about a case being filed Would the system that you've been criticized for in the press' apply to the first instance of ongoing investigations? I think you've indicated that it would apply only to an ongoing ongoing investigation and only at the time it was completed and only so that you could re-spond to the press. What about a case being filed? Mr. ALTMAN. First of all, Senator, I never asked to be kept abreast of any investigation. In other words, where does it stand how does it look? I never asked to be kept abreast of any investiga- tion. I never asked to be kept abreast of an 'ease. What does it look like, what's the outlook, what's the facts? I never asked to be kept abreast of any case. All I asked was that before the RTC released to the press infor- mation that would have a significant potential impact from the press point of view, I'd be alerted to it. Now, I think that's a very reasonable thing to have said an d while I haven't actually checked, I'd be surprised if other agencies didn't have a similar policy. Just simply let me know before you release it, not before you decided it---before you release it so that if I start to get inquiries, I won't be caught short. That's all. Senator BENNETT. As you've described it, I think that is very reasonable. It's not as these other people have described it, and I suppose you'll have a conversation with Mr. Katsanos about that. Mr. ALTMAN. No, I haven't had a conversation with anyone at the RTC. Senator BENNETT. I suppose you will have a conversation with him. Mr. ALTMAN. No, I won't. No. Senator BENNETT. Thank you very much, Mr. Chairman. Mr. ALTMAN. I'm never going to have a conversation with anybody at the RTC again. The CHAIRMAN. I want to just take a moment to review what the outstanding requests are at this time. We've now heard from Senator Bennett and Senator Domenici. Help me if there are any others of you who want to take time. Senator DAmato, you have an interest. Senator Gramm? Anybody on this side? Senator Dodd? Senator DODD. I don't think it's my time. Go ahead. The CHAIRMAN. Senator Dodd will defer to either of you.