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Lance Affair / Senate Hearings #254170

CBS Evening News for Friday, Sep 16, 1977
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(Studio) OMB director Bert Lance conts. to be questioned about his financial affairs by Senator Govt. Affairs Committee President Carter watches taped highlights of hearings. After meeting of visiting newspeople with President, 1 quotes Carter as saying he wants Lance to stay on as OMB director
REPORTER: Walter Cronkite

(DC) Lance is accompanied to hearings by wife LaBelle. Questioning is interrupted by more arguments among committee members and takes on more personal tone. Senator Eagleton compares probe of Lance to McCarthyism and criticizes Senator Percy. [EAGLETON - notes Percy's comments with regard to Lance; says they will linger with Lance rest of life, despite Percy's apology.] [PERCY - will carry out duty and responsibility in hearings as he sees it.] Lance is asked if questions with regard to record have made him unable to do job. [LANCE - fee Is it would be regrettable to be drummed out of office after complete and open investigations of charges have taken place and are found to be false.] Senator William Roth suggests Lance's campaign committee overdrafts in 1974 governor's race might have been way to skirt laws prohibiting loans to bank officers. [ROTH - asks if Lance thinks bank president writing check for overdraft is within spirit of law.] [LANCE - says simple act may not be, but that situation not analogous to situation he was in with Calhoun (Georgia) 1st National Bank.] Currency official and Judge Sidney Smith, attorney for Lance, have told IRS (Internal Revenue Service) that Lance opposed releasing copy of sanctions on bank to FBI. Lance denies it. [LANCE - didn't suggest this.] Senator Mathias asks if Lance tried to delay FBI probe of background. [MATHIAS - notes reports from Carter transition team that Lance refused to sign consent papers.] [LANCE - signed whatever was put before him that needed to be signed. Asks what he had to fear from FBI probe.] [MATHIAS - can see situation, of Lance's excitement and wanting to get into new job, but notes papers not signed immediately.] [LANCE - wasn't told of any difficulty with regard to own signing of papers.] Percy asks with regard to issue of bank shares promised to 1 bank, while being pledged to and in custody of another bank. [PERCY - asks about this situation.] [LANCE - wanted to be sure of situation; notes shares were with ChemicalBank and doesn't recall telling Mfrs. Hanover of situation.] Percy also tried to ask about use of bank plane, but Justice Department has this under consideration and questions are halted. Lance and committee meet after hearing to discuss whether they can properly be asked. More on this issue is likely on Saturday
REPORTER: Barry Serafin

(Studio) In January, Senator Govt. Affairs Committee gave Lance rubber-stamp approval for confirmation; in July, he was-again given committee 's approval. Following is report on committee itself.
REPORTER: Walter Cronkite

(DC) Details with regard to reasons committee didn't have all information in January it apparently now has, its lack of experience and composure and of staff cited. Unusual amount of cross fire, exploited by Lance, between Senators Percy and Eagleton noted.
REPORTER: Roger Mudd

(Studio) Special broadcast with regard to hearings noted.
REPORTER: Walter Cronkite

Reporter(s):
Cronkite, Walter;
Mudd, Roger;
Serafin, Barry
Duration:
00:08:10

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