Word: calhoun
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...unveiled before the Senate Governmental Affairs Committee, was much stronger in its attack on the excesses of a few of his senatorial critics than in its often strained and flawed defense against the most serious charges. Those charges focused on his great and persistent overdrafts at Georgia's Calhoun National Bank, and his frequent use of the bank's plane for personal trips when he was the president or chairman, from 1963 to 1974. Lance went too far, mawkishly equating his plight with that of victims of governmental oppression abroad, the human rights martyrs. No one, after...
...Abraham Ribicoff. Democratic chairman of the committee, and. more scathingly, Charles Percy, the ranking Republican. As reported in a Labor Day weekend story in the Atlanta Journal Constitution, Lance noted, the Senators had sent three committee investigators to quiz Billy Lee Campbell, a former vice president of the Calhoun First National Bank, who was serving an eight-year prison term for embezzling nearly $1 million from the bank, mostly during the time that Lance was its president. Campbell had claimed that Lance was "part of the embezzlement. Then Ribicoff and Percy met with Carter at the White House, urged Lance...
...when he denied that he had made any attempt to conceal damaging information from the committee during its confirmation hearings in January. He said that he had met with committee investigators on Jan. 13 and discussed his major financial troubles. They mainly concerned overdrafts in his accounts at the Calhoun bank; the overdrafts incurred there by his campaign committee when he ran unsuccessfully for Governor of Georgia in 1974; and the agreement that the Calhoun bank reached with the Comptroller of the Currency in 1975, requiring, among other things, an end to all overdrafts by Lance, his wife and other...
...appointee should volunteer to a confirmation committee every piece of ammunition it could possibly use to deny him the office. Lance sharply denied asking any federal officials either to close the Justice Department investigation into his campaign overdrafts or to lift the Comptroller's sanctions against the Calhoun bank. The involved officials have supported Lance's denial. Although the criminal case was closed without prosecution and the agreement was ended -both conveniently just before Lance's confirmation hearings-those actions looked like attempts by minor bureaucrats to curry favor with the incoming Administration. Some Senators, however, expressed...
Lance responded that the Calhoun bank had long had a "liberal" overdraft policy to attract customers and that it applied to all depositors. Moreover, he contended, such a policy was "not an unusual practice" in a small rural community like Calhoun, where the bankers knew most of their customers and could judge whether this "extension of credit" involved any risk...