August 3, 1994 - Part 4
August 3, 1994 - Part 4
(15:15:06) Senator DODD. My point is, if you had to do it over again, would you send them down here? Mr. LUDWIG. I don't know, Senator. They were public documents. I had nothing to do with them. I want to emphasize that I checked with our counsel to make sure that they were public documents, and I'm not sure how I would Senator DODD. I'm not going to dwell on it, but it seems to me, the kind of transmissions of those things-lastly, I was intrigued going back to the inquiries that you made, and it sounded to me like you did the right thing calling various people to determine whether or not the questions, and inquiries to you were something you could respond to and you talked to a number of people. You mentioned you talked to Jean Hanson at the Treasury Department, and I'm particularly interested in that conversation. We've had a lot of talk up here the last several days, as you are no doubt aware, about Ms. Hanson. Now, as I understand it here, she seemed to have some reservations and cautioned you against giving the President advice on this matter. That's your testimony; is that not correct? Mr. LUDWIG. Yes, She had a cautionary note in her voice, as best I can recollect, and then suggested that I speak with Bernard Nussbaum, the Counsel to the President. Senator DODD. This was sometime between Christmas and New Year's 1993? Mr. LUDWIG. This was just prior to New Year's 1993. Senator DODD. Did Ms. Hanson say to you that at any point before I talk to you, I may have to check with someone here in the Treasury Department? Was there any reluctance on her part to discuss this issue with you? Mr. LUDWIG. As best I recollect, she didn't seem to know a great deal about the facts, Senator DODD. That was not my question. Was she reluctant in any way to discuss this matter with you? Mr. LUDWIG. It was such a brief conversation and really the import of which was to pass me on, more than anything else, to Mr. Nussbaum. Senator DODD. Did she seem reluctant to talk to Mr. Nussbaum? Did you get any indication she knew Mr. Nussbaum fairly well, that she was comfortable making that suggestion? Mr. LUDWIG. No. It was a very brief conversation, and I had a feeling she was uncertain as to who to speak with and passed me on to Bernard Nussbaum, that she said just to call him. Senator DODD. Mr. Chairman, thank you. The CHAIRMAN. Senator Bond. 76 Senator BOND. Just a couple quick follow-up questions. I was going over notes as you were talking. You mentioned having reviewed the testimony of Mr. Sloan; is that correct? Mr. I did not review the testimony of Mr. Sloan. I don It think I said that. Senator BOND. I wrote down, that you said you read the deposition of Mr. Sloan. Mr. LUDWIG. Oh, no, I never said I read the deposition of Mr. Sloan. I am aware that Mr. Sloan was deposed--either from the newspaper or- I'm not sure where-maybe it was because at my deposition, Counsel to the Majority or Minority inquired of me in respect of Mr. Sloan's recollection. I think that was it, But I certainly have never read Mr. Sloan's deposition or testimony or anything like that. Senator BOND. I just wanted to check on that. And one final point, when the President spoke with you briefly in that crowded room, do you recall him saying anything about a op-ed piece? Mr. LUDWIG. I don't recall that, sir. Senator BOND. Thank you, Mr. Chairman. The CHAIRMAN. Senator Shelby. Senator SHELBY. Mr. Ludwig, your current job now, and was when you were at Renaissance Weekend is, Comptroller of the Currency? Mr. LUDWIG. Yes. Senator SHELBY. As Comptroller of the Currency, you're the top regulator of the national banking system, are you not? Mr. LUDWIG. Yes, sir. Senator SHELBY. And before this, you were an active lawyer in Washington, DC dealing with banking regulation work, were you not? Mr. LUDWIG. Yes, sir, Senator SHELBY. Before you were nominated and confirmed for that? Mr. LUDWIG. Yes, sir, I practiced banking law and did some teaching in this area. Senator SHELBY. Adjunct professor. Mr. LUDWIG. Yes, that sort of thing. Senator SHELBY. Where did you teach? Mr. LUDWIG. I gave lectures at Harvard I Yale and Georgetown. Senator SHELBY, In regulatory law? Mr. LUDWIG. Banking regulatory matters. Senator SHELBY. Now, you knew the President of the United States. I'm not saying you knew him from-you've known him since you were 5 years old and so forth, but you went to Oxford with him and you went to Yale Law School with him. Mr. LUDWIG. Yes, sir, I did. Senator SHELBY. And you were involved, to some degree, in his presidential race. Mr. LUDWIG. I was, sir.