August 3, 1994 - Part 5
August 3, 1994 - Part 5
(15:55:37) I also participated in the February 2, 1994 meeting with Mr. Altman and others in the White House. During that meeting, I learned nothing whatsoever about the substance of the RTC civil investigation into Madison. The meeting principally concerned the procedures the RTC would follow in deciding whether to bring civil actions or to seek a tolling agreement to prevent the running of the then-applicable statute of limitations. With regard to the subject of Mr. Altman's consideration of the recusal issue, I recall that was discussed during the meeting, and I recall that three points were made. First, that if Mr. Altman had a legal or ethical obligation to recuse himself, he would do so immediately. Second, that regardless of whether he formally recused himself, he was going to be recused de facto since he stated that he would follow whatever recommendation was made to him by the career officials at the RTC. And third, at the conclusion of that meeting, the decision of whether Mr. Altman should or should not recuse himself was left entirely up to him. Finally, with regard to the February 24, 1994 RTC oversight hearing before this Committee, I participated with others in the White House in an effort to ensure that Mr. Altman give a full account of the White House-Treasury contacts. Mr. Chairman, I have been subject to a deposition of more than several hours duration by the staff of this Committee, and I have discussed with them in that deposition in great detail my knowledge of the White House-Treasury contacts. I am prepared to answer any questions that any Member of this Committee may have of me. Thank you , sir. The CHAIRMAN. Thank you, Mr. Eggleston. Mr. Sloan, CLIFFORD M. SLOAN, ASSOCIATE COUNSEL TO THE PRESIDENT Mr. SLOAN. Mr. Chairman and Members of the Committee, MY name is Clifford Sloan. I want to thank you for the opportunity to appear today before this Committee. I have been an Associate Counsel to the President since June 1993. In the course of my duties in the White House Counsel's Office, I was contacted by officials of the Department of the Treasury connection with press inquiries and interest in Madison Guaranty I Savings & Loan. These conversations consisted of a brief mention 89 by Jean Hanson, the General Counsel of the Treasury, after a meeting at the White House on a different subject on September 29, 1993; a few subsequent telephone calls from Ms. Hanson in the days thereafter; and a meeting of White House and Treasury officials on October 14, 1993. A few months later, on December 30, 1993, the Comptroller of the Currency, Mr. Eugene Ludwig, also called me briefly concerning Madison. As I know you are aware, I recently spent several hours in a deposition with both the Majority and Minority staff of this Committee, answering their questions about this matter. And of course, I will be happy to answer any questions here today as well. Before I do so, I would like to make just a couple of brief points. Neither I nor anyone else in the White House ever sought to influence or even to comment upon the decision to refer the Madison matter to the Justice Department for further investigation, nor did I or any White House personnel ever seek to influence or comment about the manner in which the referral was worded or who was mentioned in it. Likewise, to my knowledge, no Treasury or RTC official ever sought or invited any comment by the White House at any time about whether a referral should be made or what form it should take, From the first mention of the Madison referral by Ms. Hanson on September 29, each of these conversations was in the context of actual or potential press interest in the matter. I will be happy to help the Committee in any way I can. Thank you. The CHAIRMAN. Thank you very much, Ms. Nolan, we'd be pleased to hear from you now. sBETH NOLAN, ASSOCIATE COUNSEL TO THE PRESIDENT