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Mr. DODD. Mr. President, I was going to raise that question. I was wondering whether or not the minority leader is familiar that the report prepared by Pillsbury, Madison & Sutro, at the cost, I point out, of nearly $4 million, using the services of former Republican U.S. attorney Jay Stephens. They reached the conclusion--to quote from the report, that `there existed no basis whatsoever. There is no evidence, however, that the Rose Law Firm had anything to do with the sales. In essence the evidence suggests that these transactions were put together by Mr. McDougal and others at Madison.' It further concludes, `It provides no basis for any sort of claim against the Rose Law Firm and, hence, Mrs. Clinton.'

I point that out and ask the leader whether or not he is aware of this. But the earlier report, which this latest report supplements, concludes on page 78 of the report, `Therefore, pending the results of the criminal case, it is recommended that no further resources be expended on the Whitewater part of the investigation.' Was the minority leader aware of that conclusion?

Mr. DASCHLE. I respond to the distinguished Senator of Connecticut that I was not aware, until today, that the report had been completed and made available, and that it had such a resounding exoneration of the Clintons. I am not sure all of our colleagues are aware who wrote the report and under what circumstances this investigation was taking place.

Mr. DODD. It was done by a private law firm hired by the FDIC--not Congress, or by Democrats or Republicans--that has expertise in this area. The law firm is Pillsbury, Madison and Sutro, located, I think, on the west coast, using the services, I point out, of a former Republican U.S. attorney, Jay Stephens. They spent $4 million, in addition to the almost $26 million being spent by the independent counsel, the almost $2 million for the committee--and I do not know what the number is in the House--totaling more than $30 million spent on this investigation. Here is their report now that was added because, after the billing documents were discovered in December, they decided they better wait and take a further look at this. These conclusions are based on after examining those billing records that the people have talked so much about. Their conclusion is to stop it, do not spend another nickel on this, not another red cent. That is the conclusion of an independent body under the leadership of a former Republican U.S. attorney. Stop it. No more money on this.

Now, I inquire of the minority leader. That is not what we recommend. The minority leader's recommendation was to allow another month of hearings, and another month after that for a report to be filed; is that not correct?

Mr. DASCHLE. The Senator is absolutely correct. Just to make sure everyone fully appreciates what it is we are suggesting, you have an extraordinary investigation being conducted, as the Senator has indicated, by an independent body, largely directed by a Republican, who is not known for his love or affection for the President or the First Lady, who have concluded, as was just indicated, that there is no merit to continuing any further in this investigation. That is No. 1. Then you have an independent counsel whose activities and extraordinary amount of effort already put forth will go on for who knows how long, requiring millions and millions of dollars more and months and months and months more. So we have on top of that a Senate committee, which has now been in existence for more than 20 months, which is not asking for a week, 2 weeks, or 3 weeks to complete its work. But they want an unlimited amount of time. They cannot tell us whether it is going to be this year, next year, the year after, or how much longer they are going to want.

So I say to the distinguished Senator from Connecticut, the recommendations made by the Pillsbury report, I think, are shared by the vast majority of the American people. It is time to end this. We have to take those limited tax dollars and put them to better use here, in areas like education, the environment, in hearings on how to find better jobs, in areas that this Senate ought to be directing its effort toward, not in more politicized Whitewater investigations.

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