Breakfast with Greenspan, February 6, 1990
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lead_398_001_all_tr.txt - Transcription (Scripto)
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- Extent (Dublin Core)
- 19 pages
- File Name (Dublin Core)
- lead_398_001_all
- Title (Dublin Core)
- Breakfast with Greenspan, February 6, 1990
- Date (Dublin Core)
- 1990-02-06
- Date Created (Dublin Core)
- 1990-02-06
- Congress (Dublin Core)
- 101st (1989-1991)
- Policy Area (Curation)
- Economics and Public Finance
- Creator (Dublin Core)
- Dole, Robert J., 1923-2021
- Record Type (Dublin Core)
- attendance lists
- Names (Dublin Core)
- See all items with this valueGreenspan, Alan, 1926-2026
- Rights (Dublin Core)
- http://rightsstatements.org/vocab/CNE/1.0/
- Language (Dublin Core)
- eng
- Collection Finding Aid (Dublin Core)
- https://dolearchivecollections.ku.edu/index.php?p=collections/findingaid&id=26&q=
- Physical Location (Dublin Core)
- Collection 007, Box 398, Folder 1
- Institution (Dublin Core)
- Robert J. Dole Institute of Politics, University of Kansas, Lawrence, KS
- Archival Collection (Dublin Core)
- Robert J. Dole Republican Leadership Collection, 1985-1996
- Full Text (Extract Text)
-
Armstrong
Bond
Boschwitz
Burns
Chafee
Coats
Cochran
Cohen
D'Amato
Danforth
Dole
Domenici (handwritten illegible signature; highlighted)
Durenberger
Garn (handwritten: Ann Woodland; highlighted)
Gorton (handwritten: Keb Hunt; highlighted)
Gramm (handwritten illegible signature; highlighted)
Grassley (handwritten illegible signature; highlighted)
Hatch
Hatfield (handwritten: L. Kannier; highlighted)
Heinz (handwritten: J. Hamland; highlighted)
Helms
Humphrey
Jeffords
Kassebaum
Kasten
Lott
Lugar
Mack (handwritten illegible signature; highlighted)
McCain
McClure
McConnell
Murkowski
Nickles
Packwood
Pressler
Roth
Rudman
Simpson
Specter
Stevens
Symms
Thurmond
Wallop (handwritten illegible signature; highlighted)
Warner
Wilson
(Printed by the Secretary for the Minority)
GPO: 1990 25-776 (m)
BOB DOLE
KANSAS
United States Senate
OFFICE OF THE REPUBLICAN LEADER
WASHINGTON, DC 20510-7020
handwritten: Ks, bread for the world, 20 billion, 50, 6
UNITED STATES SENATE
OFFICE OF THE REPUBLICAN LEADER
WASHINGTON, D. C.
BOB DOLE
KANSAS
February 6, 1990
Dear Alan:
I want to thank you again for taking time out of your busy schedule to meet with me and the other Republican Senators.
We certainly appreciated your thoughtful comments on the RTC Oversight Board, the Social Security Trust Fund, and the general outlook for the national economy.
Since my colleagues and I find these informal sessions to be very helpful, I hope you would not mind if we sent you another breakfast invitation.
Sincerely,
(signature)
BOB DOLE
The Honorable Alan Greenspan
Chairman
Board of Governors of the Federal Reserve System
Constitution Avenue and 20th Street, N.W.
Washington, D.C. 20551
February 6, 1990
8:30 a.m. - S-230
Breakfast Meeting with Alan Greenspan
16 Alan Greenspan - fruit cup, french toast, bacon
1 Dole - oatmeal , fruit cup, skim milk
2.Domenici - fruit cup, french toast, bacon, coffee
3 Gramm - fruit cup, french toast, bacon, coffee
4 Simpson - will not eat
5 Garn - fruit plate, orange juice, muffin
6 Chafee - tent. yes (handwritten: - fruit cup, french toast, bacon)
7 Hatfield - fruit cup, cream of wheat with syrup
8 Gorton - fruit cup, oatmeal, orange juice, english muffin
9 Mack - banana, corn flakes with milk, 2% milk
10 Grassley - no breakfast - just coffee
11 Wallop - fruit cup, french toast, bacon, coffee (all crossed out; handwritten: coffee)
12 Heinz - fruit cup, oatmeal, coffee (all crossed out; handwritten: large glass grapefruit juice)
13 Don Winn, Office of Congressional Affairs, Federal Reserve Board fruit cup, french toast, bacon
14 Dennis Shea - fruit cup, french toast, bacon is
15 Sheila Burke - fruit cup, french toast, bacon
extra biscuits and bran muffins
handwritten notes:
Hatfield Chafee Gorton Domenici Wallop Heinz Winn Shea Burke Dole Greenspan Garn Gramm Mack Simpson Grassley
February 6, 1990
8:30 a.m. - S-230
Breakfast Meeting with Alan Greenspan (check mark)
Dole (check mark)
Domenici - will be late
Gramm (check mark)
Simpson - will be late (check mark)
Garn (check mark)
Chafee (check mark)
Hatfield (check mark)
Gorton (check mark)
Mack (check mark)
Grassley - will be late (handwritten: still coming)
Wallop - will be late (handwritten: still coming)
Heinz - will be late (check mark)
Don Winn, Office of Congressional Affairs, FRB (check mark)
February 6, 1990
8:30 a.m. - S-230
Breakfast Meeting with Alan Greenspan
Dole
Domenici - will be late
Gramm
Simpson - will be late
Garn
Chafee
Hatfield
Gorton
Mack
Grassley - will be late
Wallop - will be late
Heinz - will be late
Don Winn, Office of Congressional Affairs, FRB
FEBRUARY 5, 1990
TO: SENATOR DOLE
FROM: DAN STANLEY
SUBJECT: BUDGET HEARINGS -- CHENEY/POWELL
The Budget Committee began their round of hearings on the defense budget submission. Secretary Cheney and General Powell began with the same opening statements they provided the SASC last week. Major points as follows:
-- Sasser stated that the "Peace Dividend" is more than "peace", that it is an opportunity to get spending back in "balance. " There will be a price paid for correcting inertia (changing the direction of defense spending) .
-- Sasser contrasted the increases in B-2, MX, SDI with the proposed cuts in Medicaide, highway funding, housing, veterans pensions, etc.
-- Sasser agreed that we need to be flexible, therefore we shouldn't commit ourselves to these new programs (B-2, ATF, C-17, etc). Further, he wanted to know why Cheney proposed all these programs before he completed his study to determine which ones we need -- due in March.
-- Sasser indicated that the committee could be looking at $10 to $12 billion more in cuts. He wanted to know if Cheney had a another list of program terminations to cover such reductions. Cheney said, "No, this is our list".
-- Domenici pushed for caution and stated that should additional cuts be made the savings should be applied towards the deficit. (He directed the latter to Senator Gramm) .
-- Cheney complained that he tried to kill systems last year and Congress put them back in. He would try again this year.
This could be a very long legislative year. If the SASC waits for Cheney's strategy study (due in May-June) before they due mark ups (and then debate them), the appropriators don't feel like they can do the job before October. They feel like a "lame duck" session is a possibility.
entire page handwritten:
Hatfield Chafee Gorton Domenici Wallop Heinz Winn Shea Burke Dole Greenspan Garn Gramm Mack Simpson Grassley
February 5, 1990
TO: SENATOR DOLE
FROM: DENNIS SHEA
SUBJECT: BREAKFAST MEETING WITH ALAN GREENSPAN
The following is some background information for your breakfast meeting with Alan Greenspan, Chairman of the Federal Reserve Board. Greenspan will be accompanied by Donald Winn, the Fed's Congressional Liaison.
Composition of the Federal Reserve Board
Other members of the Fed are Manuel Johnson (Vice-Chairman) , Wayne Angell, Edward Kelley (just re-nominated by the President) , John LaWare, and Martha Seger. President Bush has also nominated David Mullins, who was largely responsible for crafting FIRREA, to fill the seat formerly held by Robert Heller.
As Chairman of the Fed, Greenspan is a member of the RTC Oversight Board.
Recent Testimony
Greenspan recently testified before the House Ways and Means Committee and the Joint Economic Committee. The following are brief summaries of the testimony.
House Ways and Means Committee (January 25) -- Pointed out the enormous increase in foreign investment in the U.S, but emphasized that such foreign investment was not dangerous. Emphasized the need to increase the national savings rate.
Joint Economic Committee (January 30) -- Provided a general overview of the economy. Remarked that GNP rose only 1/2 percent at an annual rate in the fourth quarter of 1989. Emphasized the weakness in the auto industry and in related industries such as metals and machine tools. Stated, however, that the slow growth in GNP was "nothing more than a temporary hesitation in the continuing expansion of the economy."
Senators' Concerns
Most Senators have not articulated any specific concerns that they would like to raise with Greenspan. I have been informed, however, that Senator Domenici is particularly concerned about the recent volatility of the stock and bond markets. I am sure that Sen. Heinz shares this concern, since he is ranking member of the Subcommittee on Securities.
-2-
Sen. Garn may raise the following issues with Greenspan: 1) the 2 empty seats on the RTC Oversight Board; 2) the lack of buyers for properties owned by thrifts under RTC custody; and 3) the FDIC's restrictions on the amount of purchase-mortgage-servicing-rights that a thrift may purchase (this issue was raised in a recent letter to you from Paul Laxalt).
Possible Questions
1. Commercial Banking and Eastern Europe. Do you expect the large U.S. commercial banks to take an aggressive approach to lending opportunities in Eastern Europe? If not, what conditions must first exist before these lending opportunities are explored?
2. Leveraged Buyouts and Junk Bonds -- During last year's Finance Committee hearings on leveraged buyouts, you testified that a substantial increase in LBO debt was not a major concern, since most LBO companies are in "mature and non-cyclical industries." In light of the apparent collapse of the junk bond market, most vivdly demonstrated by the Campeau fiasco, do you still believe that corporate debt is at acceptable levels?
3. RTC Working Capital. I know that you are a member of the RTC Oversight Board. How much additional working capital does the RTC need and will this additional funding be on-budget or off-budget?
February 6, 1990
8:30 a.m. - S-230
Breakfast Meeting with Alan Greenspan
Dole
Domenici - will be late
Gramm
Simpson - will be late
Garn
Chafee
Hatfield
Gorton
Mack
Grassley - will be late
Wallop - will be late
Heinz (handwritten: - large glass of grapefruit juice)
Don Winn, Office of Congressional Affairs, FRB
February 6, 1990
8:30 a.m. - S-230
Breakfast Meeting with Alan Greenspan
Dole
Domenici - will be 10 minutes late
Gramm - will be on time
Simpson - has a conflict - will be late
Garn - will be on time
Chafee - tent. yes
Hatfield - will be on time
Gorton - no answer yet (crossed out, handwritten: o.t.)
Mack - no answer yet (crossed out; handwritten: banana, corn flakes, 2% milk)
Grassley - yes
Wallop - yes
Heinz - yes - on time (handwritten: - oatmeal - fruit cup)
Cochran - conflict
Packwood - no
Roth - not sure
D'Amato - no answer yet
handwritten arrow drawn from Gorton: oatmeal, fruit cup, english muffin, o.t. large
handwritten note at bottom of page: Don Winn Cong 2
February 6, 1990
8:30 a.m. - S-230
Breakfast Meeting with Alan Greenspan
1. Dole - ortsmane
2. Domenici - will be 10 minutes late - egge bacon
3. Gramm what to eat? anything agge bacon +the.
3 Simpson - not sure may have a conflict - late no breakfast the.
4 Garn fruit plate, suffering juice late
Chafee - will call back podleible
6 Hatfield - Cream of wheat with syrup and fruit
Gorton - will call back still checking
Mack - will call back
7 Grassley - will call back 15 min late, no breakfast- Coffee
8 Wallop - will call back late - 10 minutod
D'amato
Cochran - conflict
Packwood - no
Roth - not sure
8. Heinz - not sure (crossed out)
handwritten at bottom of page:
muffins and biscuits
Gramm 11 30 P. feevs minutes
personal
10 minutes
George White
on Monday
Joe Stewart
BREAKFAST MEETING WITH ALAN GREENSPAN
TUESDAY, NOVEMBER 21, 1989
8:30 A.M. - S-230
Dole
Gramm
Garn
Chafee
Cochran
Heinz
Roth - has not decided as of yet
D'Amato - if we are in session probably
Simpson - if we are in session
Domenici - has his own fundraiser
Packwood - no
Wallop - has not decided as of yet
handwritten at bottom of page:
Mack - wcb 5274 (Wendy; Lindy crossed out) if in session
Hatfield - w.c.b. ?
Grassley - wcb, ok
(illegible) - if in session, Vicki, ok
Feb. 6th @ 8:30 to 9:30
Domenici - late
Gramm, Phil -
November 3, 1989
TO: SENATOR DOLE
FROM: JOYCE
RE: BREAKFAST MEETING
Suggested Senators to invite to the breakfast on Tuesday, November 21 at 8:30 a.m. with Alan Greenspan:
(all mostly handwritten)
NO Domenici - wcb - FR
NO Packwood - w.c.b.
(check mark) Gramm - w.c.b. OK - Susan
Hatfield wcb (crossed out) NO - Oregon
? Roth - w.c.b.
Rudman crossed out
(check mark) Garn - w.c.b. - yes
(check mark) Chaffee - OK
wcb ann (check mark) Cochran - w.c.b. - yes
Y Simpson if in town
Wallop - w.c.b.
Y Heinz - OK tent.
D'Amato - UJA NY - NOT SURE possible
BREAKFAST MEETING WITH ALAN GREENSPAN
TUESDAY, NOVEMBER 21, 1989
8:30 A.M. - S-230
1 Dole
2 Gramm
3 Garn
4 Chafee
5 Cochran
6 Heinz
7 Gorton - yes if in session (handwritten)
Roth - has not decided as of yet
D'Amato - if we are in session probably
Simpson - if we are in session
8. Grassley - yes (handwritten)
Domenici - has his own fundraiser
Packwood - no
Wallop - has not decided as of yet
Mack - if in session (handwritten)
Hatfield - not sure (handwritten
handwritten at bottom of page:
Dennis
Sheila Burke
November 1, 1989
MEMORANDUM FOR SENATOR DOLE
FROM: JOYCE
1. Senator Warner called this morning to see if you and Mrs. Dole and two other people would like to go to the Redskin vs Dallas game this Sunday evening at 8:00 p.m. at RFK. Senator Warner shares a box with Jack Kent Cook. Senator Warner will not be going and there is also a private parking place.
2. JoAnne called...Can you put her in contact with the appropriate person so that she can have MGM deliver the tape to Nana Primakov of Rain Man to the hotel in California since the Soviet Delegation will be there? (illegible handwritten note)
3. I checked with Alan Greenspan's office this morning and the earliest he can do a breakfast meeting is Tuesday, November 21, 1989 at 8:30 a.m. Do you want me to schedule or wait until January/February? I also checked with Betty and you are available on the 21st
Schedule on November 21, 1989 (check mark)
Schedule in January/February
handwritten notes on page:
452-3201
Mrs. Marlardy
Catherine
Don Wynn
Packwood
Domenici
Gramm
Hatfield
Roth
Rudman
Garn
entire page handwritten:
education secretary
Nancy Kennedy
Ag end of Feb.
beginning of March
11 00 @ spore
Porter
McClure
Darn & one other
BOB DOLE
KANSAS
United States Senate
OFFICE OF THE REPUBLICAN LEADER
WASHINGTON, DC 20510-7020
handwritten at top of page: Feb 6, 8:30 a.m. S-230
(entire page handwritten)
Domenici Y - late 10 minute
Gramm Y - yes (anything to eat)
Simpson - w.c.b. NOT SURE
Garn Y - fruit muffin juice
Packwood - ck on Mon. no
Chafee - wcb -->
Hatfield Y - wcb - cream of wheat, syr & fruit
Cochran - NO
Roth - w.c.b.?
Gorton - wcb
Mack - w.c.b.
Grassley 3744
Wallop
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