Brooke press conference on finances

Item Information

Title:
Brooke press conference on finances
Description:
Senator Edward Brooke holds a press conference at the offices of Robert McGrath (attorney for Edward Brooke) to address a story about his personal finances that appeared in the Boston Globe. Brooke admits to making a false statement about the receipt of a personal loan in an out-of-court deposition for his divorce. Brooke says that he did not commit perjury by making a "misstatement" in the divorce proceedings; that he did not inflate his financial liability in the divorce settlement. Brooke discusses the divorce settlement and says that it is "fair and equitable." Brooke denies allegations by the Boston Globe that he spends more than he earns. Brooke describes the sources of his income, including details of the purchases and estimated values of his properties. Brooke apologizes to constituents and asks for their forgiveness and understanding. The media asks probing questions about his personal life and finances. Brooke admits that his daughter is responsible for leaking the story to the press. 11:27:58: Visual: Members of the media are gathered in a small room at the offices of Robert McGrath (attorney for Edward Brooke). The media waits for the arrival of Edward Brooke (US Senator). Members of the press are crowded into the small room. Some are sitting and some are standing. Camera crews set up cameras and microphones. Walt Sanders (WBZ) is among the reporters. 11:30:19: V: Brooke arrives and stands at the front of the room. McGrath stands at his side. Brooke says that the story in The Boston Globe about his personal finances is mostly correct. He notes that there was an error in the caption. Brooke says that he has never admitted to swearing falsely about a $49,000 loan. Brooke apologizes for making a "misstatement and a mistake." He asks for forgiveness and understanding from his constituents. Brooke admits that he never received a $49,000 loan from A. Raymond Tye (Boston liquor wholesaler). He adds that he made a false statement about the receipt of the loan in an out of court deposition for his divorce case. Brooke says that he does owe $49,000; that $2,000 is owed to Tye; that the remaining money belonged to his mother-in-law; that the money was in his control and spent according to the wishes of his mother-in-law. Brooke adds that his divorce is a private matter; that he does not want to discuss the $47,000 debt; that the debt is a family matter. Brooke notes that the out of court deposition was never signed; that McGrath and Monroe Inker (attorney for Brooke's wife) stated in the deposition that the debt was a matter to be settled privately. Brooke states that the depositions were never entered into court. He apologizes for having made a misstatement about the loan. 11:34:57: V: A reporter asks Brooke about allegations that he has been spending more than he has earned. Brooke says that those allegations in The Boston Globe story are untrue; that he has never spent more money than he has earned. Brooke adds that he made rough estimates of his living expenses in a financial statement for the divorce; that his income is comprised of his salary, honoraria received from speaking engagements, stocks, and rental fees from his properties on St. Martin and Martha's Vineyard. Brooke discusses details of the purchases and estimated values of his properties on Martha's Vineyard and St. Martin, his home in Newton, and his apartment in Washington D.C. Brooke notes that he bought his home in Newton with funds realized from the sale of his first home in Roxbury. He adds that he is regularly paying off a $125,000 loan which he received to pay for the property in St. Martin; that he is also paying a mortgage on his apartment in Washington D.C. Brooke says that he has no cash and securities holdings, despite reports to the contrary by The Boston Globe. Brooke notes that he has one checking account from which he pays all of his bills. He says that he would like to put an end to rumors about his "vast holdings." Brooke adds that there is nothing wrong with making a profit from a "sane" investment in real estate. 11:39:16: V: A reporter asks Brooke if he committed perjury in making a "misstatement" in the divorce proceedings. Brooke says that he did not commit perjury; that he admitted under oath to owing $49,000; that he misstated the party to whom he owed the money. The reporter insists that Brooke committed perjury by saying that he owed all of the money to Tye. Brooke insists that he did not commit perjury; that he stated the correct amount of money owed; that he said the money was owed to Tye in order to avoid bringing a private family matter into the court settlement. The reporter asks if his misstatement inflated his financial liability in the divorce settlement. Brooke says that he had always intended to pay back the money; that he had spent the money for his family with his mother-in-law's consent; that he did not inflate his liability because he was obligated to pay back the money. Brooke notes that his wife knew about the debt to his mother-in-law; that the debt did not affect the settlement. Brooke adds that the settlement gave his wife their home in Newton and the property in St. Martin as well as an annual alimony payment of $18,000 and all health and medical insurance. Brooke explains that he has assumed all mortgage payments for the property in St. Martin given to his wife in the settlement; that the divorce settlement was fair and equitable. Brooke says that divorce settlements are very painful; that he does not know how The Boston Globe gained access to the depositions; that he has never read the depositions. Brooke says that he wants to clarify the facts surrounding the divorce settlement because of inaccuracies in the story by The Boston Globe. Brooke says that he thinks his constituents will forgive him; that he has a strong record of public service. Brooke says that his mistakes in the divorce proceedings were not related to public funds or to his performance as US Senator. Brooke adds that he has never tried to cheat his wife; that he has never received any money through dishonest means. Brooke says that he will not take legal action against The Boston Globe; that their story was substantially correct. Brooke notes that he never admitted to falsely swearing about his finances under oath, as was reported in the Globe. Brooke says again that he made a "mistake and a misstatement." Brooke says that the depositions were not provided to the Globe by him or his attorney; that the depositions must have been provided by his wife or her attorney; that the depositions were never filed in court; that he never read them; that they exist for the sole purpose of reaching a financial agreement in the divorce settlement. A reporter asks Brooke if someone has "an axe to grind" about the settlement. Brooke says that someone peddled this story to the news media all over the state of Massachusetts and in Washington D.C.; that the release of the story coincides with his bid for reelection to the US Senate; that he feels like he is being "blackmailed." Brooke says that he thinks the story is being used in an attempt to force him to give up more to his wife in the divorce settlement. Brooke notes that he has given "three-fourths" of his assets to his wife in the settlement; that the settlement is fair and equitable. Brooke admits that his daughter, Remi, is responsible for leaking the story to the media. A reporter asks Brooke if his mother-in-law "holds the note" to the personal debt. Brooke responds that there is no note. Brooke explains that his mother-in-law received an insurance settlement of $100,000 from a car accident which left her paraplegic. Brooke says that this money was spent according to the wishes of his mother-in-law; that she gave him control of this money; that much of this money was spent on her doctor's bills and expenses; that he has been paying this money back and owes about $30,000. A reporter notes that Brooke sponsored legislation forcing full financial disclosure from US Senators. Brooke says that he has always fought against corruption in government; that full financial disclosure by US Senators is ethically important. A reporter asks Brooke if he has received a "bum rap." Brooke says no.
Date:
May 26, 1978
Format:
Film/Video
Genre:
News
Location:
WGBH
Collection (local):
Ten O'Clock News
Subjects:
Press conferences
Legislators--United States
African American politicians
Political corruption
Link to Item:
http://bostonlocaltv.org/catalog/V_MC0J8A2KYA5HAA3
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Publisher:
Ten O'Clock News