Whitewater Hearings July 25, 1995 Testimony of Patsy Thomasson
Whitewater Hearings July 25, 1995 Testimony of Patsy Thomasson
Whitewater Hearings July 25, 1995 - Testimony of Patsy Thomasson.
Whitewater Hearings July 25, 1995 Testimony of Patsy Thomasson
Senator Duncan Faircloth (R North Carolina). Ms. Thomasson, in your deposition on page 15, you were asked about the relationship between Lasater, Incorporated and Madison Guaranty. You testified that Lasater and Company did no business with Madison Guaranty other than one Lasater subsidiary known as Emerald Isle Condominiums, Incorporated. Is that right? Patsy Thomasson. I testified that Emerald Isle condominiums Inc. had a loan with Madison at one time, yes, sir. Senator Duncan Faircloth (R North Carolina). You testified that they had no business with Madison except the Emerald Isle loan? Patsy Thomasson. That I was knowledgeable about, Senator. Senator Duncan Faircloth (R North Carolina). Ms. Thomasson, did Lasater and Company have a trading account for the purchase and sale of securities with Madison Guaranty? Patsy Thomasson. I don't have any idea, sir. Senator Duncan Faircloth (R North Carolina). You worked there. You were Patsy Thomasson. I worked there for 6 months. Senator Duncan Faircloth (R North Carolina). You had power of attorney? Patsy Thomasson. I worked for Lasater and Company, the investment banking firm, from June 1983 until November 1983. Subsequent to that, I did not work for the investment banking firm and had no knowledge of who they had accounts with and who they didn't have accounts with. Senator Duncan Faircloth (R North Carolina). But you worked with Lasater for how many years? Patsy Thomasson. I worked with him for almost 10 years. Senator Duncan Faircloth (R North Carolina). You worked with him for almost 10 years, but you don't know.
Whitewater Hearings July 25, 1995 Testimony of Patsy Thomasson
Senator Duncan Faircloth (R North Carolina). Do you recall in any great detail the true nature of the relationship between Madison Guaranty and Lasater and Company, clearly they had more involvement than this one Emerald Isle account? Patsy Thomasson. My familiarity with the relationship between Madison and Lasater, Inc. and its subsidiaries was this Emerald Isle loan that I've discussed. I don't know what relationship the investment banking firm might have had with Madison. Senator Duncan Faircloth (R North Carolina). I find that hard to believe and disturbing. 37.40 Let me refresh your memory, then. This is a copy of the Board of Directors of Madison Guaranty from June 21, 1984, signed by Jim and Susan McDougal. It reads in part Senator Chris Dodd (D Connecticut). Mr. Chairman, are we going to Senator Al D Amato (R New York). I'll let him Senator Chris Dodd (D Connecticut). I know we're going to get into this eventually, but I thought the set of these hearings were on what this witness could tell us about Senator Al D Amato (R New York). Let me ask you this, Senator. Do you believe that this witness can shed any light with respect to this? Is that why you're bringing that in? Senator Duncan Faircloth (R North Carolina). Yes, I believe it would. I didn't realize we had a sequence in which you were supposed to ask questions-I thought you were supposed to ask them as they came up and you saw fit to ask them. Senator Al D Amato (R New York). True. However, let me say Senator Duncan Faircloth (R North Carolina). Let me finish this. This is Senator Chris Dodd (D Connecticut). The subject of these hearings is about documents in Vince Foster's office, and we're talking about things that I gather, unless someone else indicates otherwise, unless my colleague has information that would indicate otherwise, here Senator Duncan Faircloth (R North Carolina). But, Senator, it says on page 6 of the resolution it allows us to probe such facts as are warranted and appropriate. Senator Chris Dodd (D Connecticut). I'm not questioning that. We're talking about a set of hearings here that specifically are to focus on the handling of the papers or the documents surrounding Vince Foster's suicide. That's what I gather, as all of us prepared and worked on that basis to try to focus on that aspect. Then, I gather we're going to have another set of hearings that come to these other aspects.
Whitewater Hearings July 25, 1995 Testimony of Patsy Thomasson
Senator Duncan Faircloth (R North Carolina). Let me ask the question: Why the problem with her answering? Are you afraid she'll say something she's not supposed to? Senator Chris Dodd (D Connecticut). No, Senator. Senator Al D Amato (R New York). No. No, I don't Senator Paul Sarbanes (D Maryland). We're not going to accept that. We're not going to accept that innuendo, Mr. Chairman. The fact is we focused on Senator Al D Amato (R New York). Please, please. I ask both my colleagues, all of my colleagues for some patience here. I want to give latitude, but yet we have to comport to the scope of these particular hearings. While my friend Senator Faircloth is right, that we will have and do have the ability under the resolution to examine these things, the question is subject to connection whether these were papers that have some bearing to the papers in Vince Foster's office, if so, then we go outside of the scope for that purpose. But the questions you posed will be appropriate at future hearings. I can assure the Senator you absolutely are well within your right to raise them, but I think the scope as it relates these particular hearings, may be narrower, and I'd ask the Senator to withhold at this time. Senator Duncan Faircloth (R North Carolina). Thank you, Mr. Chairman. Just to restate the accuracy of Ms. Thomason s deposition. She said that there was no relationship between Madison and Lasater, and this document shows she was wrong, and that is relevant, and we'll get to it later. Thank you.
Whitewater Hearings July 25, 1995 Testimony of Patsy Thomasson
Senator Al D Amato (R New York). Let me say, so this might allay the Senator's concerns that we'll not have an opportunity in the future to get into the question Senator Chris Dodd (D Connecticut). You might take the document, we're sitting here Senator Al D Amato (R New York). We can take it down, or leave it up, but the point is, in the future when we get to the question of Madison and the relationship of Lasater, etcetera, the Senator will be well within his rights to raise the question again to Patsy Thomasson. But the question, at this point in time, is not connected to this particular aspect of Whitewater. Sometimes it gets complex and I understand that Senators might want to go beyond, I thank the Senator for refraining and I thank my colleagues for their patience.