August 3, 1994 - Part 4
August 3, 1994 - Part 4
(14:00:00) ROGER ALTMAN testifies before the House Banking Committee (14:02:00) Commentary of hearings hosts NINA TOTENBERG and DON BODE from tv studio, they also talk to DAVE MCCONNALLY of WTOP Radio Washington, DC (14:18:15) Senate hearing resumes: AFTERNOON SESSION The CHAIRMAN. Committee will come to order, please. Let me invite all those in the room to find seats for themselves, As I indicated earlier this morning, our second witness today would be Mr. Eugene Ludwig, who is here with us now. He is the Comptroller of the Currency. Mr. Ludwig, I understand that you have a statement that you want to deliver and I'm going to ask you to do that. Before I do, let me ask you to stand and raise your right hand. Do you swear that the testimony you're about to give is the truth, the whole truth and nothing but the truth, so help you God. TESTIMONY OF EUGENE A. LUDWIG COMPTROLLER OF THE CURRENCY, OFFICE OF THE COMPTROLLER OF THE CUR RENCY Mr. LUDWIG. I do. The CHAIRMAN. Very good, We'll make your full statement a part of the record. Why don't you go ahead and deliver whatever remarks you wish to deliver now. Mr. LUDWIG. Thank you. Mr. Chairman and Members of the Committee, I am pleased to appear before you today in connection with your inquiry into communications between officials of the White House, the Treasury Department, and the Resolution Trust Corporation relating to the Whitewater Development Corporation and Madison Guaranty Savings & Loan Association. Too much of the public discussion of these topics has flowed from rumor, speculation and innuendo. It is time to clear the air and get to the facts. Your hearings will help all of us set the record straight, put these issues behind us, and get back to business. As you are aware, the Office of the Comptroller of the Currency has no jurisdiction over the Whitewater Development Corporation, nor over Madison Guaranty Savings & Loan Association. Neither in my capacity as Comptroller of the Currency, nor in my capacity as a director of the Federal Deposit Insurance Corporation, has anything related to Whitewater or Madison come before me, except for two unsolicited copies of Freedom of Information Act requests from reporters that I will describe more fully in a moment.