Word: altmans
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Political trouble threatens all in its path indiscriminately. Public officials served with subpoenas suffer tarnished reputations no matter the ultimate result -- which is why distinctions should be drawn. Where does Altman...
With impressive government experience already behind him, Altman probably felt confident that he knew the rules of the game when he joined Clinton last year. As Jimmy Carter's Assistant Treasury Secretary, Altman helped engineer ) the Chrysler bailout. Thanks to his talent and good luck (he and Clinton became friends in college), Altman is now Lloyd Bentsen's understudy. He is also acting head of the Resolution Trust Corporation, an assignment he accepted to fill a temporary vacancy in the RTC's chairmanship. This is the chore that has sullied...
...particularly sensitive because the agency is trying to recapture money lost from failed savings and loans like Madison Guaranty of Little Rock, the institution with ties to the Clintons' hapless Whitewater Development Corp. As a result of Altman's congressional testimony, the public now knows that Treasury officials held three meetings with White House aides to discuss the RTC's Madison investigation. Administration officials confirm that Altman didn't know about the first two. Those became public after Altman acknowledged that he himself called the third for last Feb. 2, a session he describes as a "brief heads-up" designed...
What's most significant in weighing Altman's culpability is his actions before the White House meeting. Unlike those involved in the other White House sessions, Altman sought to avoid any impropriety, or even its appearance, by clearing his meeting in advance with Treasury's ethics office. The question: Would it be proper to convey the innocuous facts regarding the statute of limitations -- facts that had already been provided to inquiring congressional staff members? Assured there was no problem, Altman proceeded...
...Altman told Congress about his Feb. 2 meeting. Republicans responded predictably, charging improper conduct. On the following day, Altman recused himself from any further RTC decisions involving Madison, even though Treasury and RTC ethics officials say he had no legal obligation to do so. Unsubstantiated reports allege that Altman sought the advice of White House aides before his recusal. He denies that charge, and Administration officials support...