Pena’s Former Firm
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* David Willman’s July 8 story raised precisely the kinds of potential conflicts of interest that I anticipated and addressed when I was asked to become U.S. secretary of transportation in December, 1992.
Before taking office in January, 1993, I severed all ties with my former investment firm, selling my interest in the company at a financial loss and recusing myself from any business that the firm had at the time. I have also said I have no intention of returning to the firm.
I have always maintained the highest levels of integrity in my years of public service. These actions were consistent with the counsel I received from government ethics advisers. I have taken every appropriate measure within my control to avoid even potential conflicts of interest or any impropriety.
As secretary of transportation, my focus remains on working together with transportation officials from around the nation to help us meet the transportation challenges of today and tomorrow.
FEDERICO PENA
Secretary of Transportation
Washington
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