August 4, 1994 - Part 1
August 4, 1994 - Part 1
(09:00:21)(tape #10087 begins) Hearing coverage title screen (09:00:25) Hearings hosts KEN BODE and NINA TOTENBERG introduce day's hearing from tv studio, (09:02:45) President BILL CLINTON gives a lengthy answer to a reporter's question at a press conference about if he'll keep on ROGER ALTMAN in the treasury department (09:04:33) Back in studio Bode and Totenberg speak with Senator CHRISTOPHER BOND (09:12:20) Hearing begins: HEARINGS RELATING TO MADISON GUARANTY S&L AND THE WHITEWATER DEVEL OPMENT CORPORATION-WASHINGTON, DC PHASE THURSDAY, AUGUST 4, 1994 U.S. SENATE, COMMITTEE ON BANKING, HOUSING, AND URBAN AFFAIRS, Washington, DC. The Committee met at 9:12 a.m., in room 106 of the Dirksen Senate Office Building, Senator Donald W. Riegle, Jr. (Chairman of the Committee) presiding. OPENING STATEMENT OF CHAIRMAN RIEGLE The CHAIRMAN. The Committee will come to order. Let me welcome all those in attendance this morning, and invite those in the room to find seats so that we can begin. Let me indicate that we are starting today our fifth day of hearings being conducted here by the Senate Committee on Banking, Housing, and Urban Affairs on the so-called Madison Guaranty Whitewater matter which was authorized, and instruction to do this provided to us, by Senate Resolution 229. There are three panels that are scheduled to appear before us today. All of the witnesses testifying today are current or former White House personnel. The first panel, now seated before us, and that we will hear from soon, consists of Thomas "Mack" McLarty, who is the Senior Advisor to the President and the former Chief of Staff to the President. Also Margaret Williams, Chief of Staff to the First Lady of the United States. The second panel consists of Harold Ickes, who is the Deputy Chief of Staff to the President. Mr. George Stephanopoulos who is a Senior Advisor to the President. Mr. John Podesta, who is Assistant to the President and Staff Secretary. And then finally, in that panel, Mr. Bruce Lindsey, who serves as Assistant to the President and Senior Advisor. The third panel will consist of Bernard Nussbaum, who served as the former Counsel to the President of the United States. I should say, by the way, that the White House has been very cooperative in making witnesses available to us, and we appreciate that. 270 As with our prior hearings, we are looking forward to listening to our witnesses, so that they can help fill out all the information that we need to have regarding events relating to whether or not there was any improper conduct that may have occurred regarding communications between officials of the White House and the Department of the Treasury or the Resolution Trust Corporation relating to the Madison Guaranty issue and related matters. So let me now, having introduced our two witnesses that are here this morning, ask you, if you would please, to stand and raise your right hand while I administer the oath. [Witnesses sworn.] Very good. Thank you. I believe you both have opening statements that you wish to make, and Mr. McLarty, we will start with you, and we would like your statement at this time. Senator BRYAN. Mr- Chairman, if those opening statements are available to the rest of the Committee, may we have them distributed? Thank you. [Pause.] The CHAIRMAN. Let me just say, Senator Bryan, and I appreciate your request, and the statements, we are getting them, but we are getting them, because of the pressure of time, pretty much just before witnesses appear, but it is very, important that Members have them available for reference. Mr. McLarty.