Word: madison
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...White House sent chief counsel and eminence grise Lloyd Cutler to testify on the first day of hearings. Cutler's mild, 11-page account of 20 contacts between White House officials and those overseeing the federal probe of the Madison Guaranty S&L briefly seemed to take the air out of the hearings. But he had barely completed his testimony when he corrected himself, moving up by one week the time at which the White House knew the targets of the RTC's investigations. His assessment of the Clinton team's overall performance was a gentle scold: "I have concluded...
...venerable civil rights association's precarious finances. "The board knew nothing about the settlement," said member Anthony Fugett after he heard news last week that the N.A.A.C.P. was being sued along with Chavis. "I'm on the budget committee, and this settlement was never in the budget," said Joseph Madison, a Washington radio talk-show host. "It never showed up on our expense statements." Madison had previously raised concerns about Chavis' financial handling of the N.A.A.C.P., which is $3 million in debt. Since Chavis assumed his post in April 1993, corporate donations have dwindled owing to the executive director...
...crisis. Two Republican Senators told TIME that a senior RTC official told Senate investigators that as early as March 1993 Altman asked to be kept informed of "politically sensitive" cases. Thanks to Altman's efforts, the Clintons learned the extent of the RTC's probe of Madison Guaranty Trust -- the bank owned by their friend and business partner James McDougal -- in early October, eight days before the Justice Department...
...MUCH TOUGHER RECEPTION lay waiting in the Senate, where Republicans on the Banking Committee had uncovered new details about Altman's efforts to keep himself and White House officials informed of the RTC's investigation of Madison Guaranty S&L. The Senate committee had a special reason to double- check Altman's story: at a hearing earlier this year, he repeatedly told the committee that he knew of only one meeting on the RTC case between the Treasury and the White House -- on Feb. 2 of this year. Altman hewed to the line that the Feb. 2 meeting -- attended...
More revisions may be coming. Several Senators now report that Altman's interest in the Madison case began nearly a year earlier. Republican Senators who have reviewed the evidence say Altman asked RTC senior staff members on March 22, 1993, to keep him personally informed of "politically sensitive" cases. When that meeting concluded, RTC senior vice president William Roelle pulled Altman aside and informed him of the ongoing probe against Madison Guaranty. Two days later, Altman faxed a copy of a 1992 New York Times story on Madison and Whitewater to White House counsel Nussbaum. On Sept. 24, 1993, with...