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Glenn SimpsonPage 9 sufficient explanation so that the committee can evaluate the claim. When deciding whether to honor a privilege the committee weighs its need for the information against any legitimate basis for withholding it. The committee typically does not honor contractual confidentiality agreements.

The committee and Mr. Simpson have agreed that this interview is occurring without prejudice to any future discussions with the committee and we reserve the right to request Mr. Simpson's participation in future interviews or to compel his testimony. The committee and Mr. Simpson have also agreed that participation in this interview does not constitute a waiver of his ability to assert any privileges in response to future appearances before this committee.

Mr. Simpson, you should understand that although the interview is not under oath, by law you are required to answer questions from Congress truthfully. Do you understand that?

MR. SIMPSON: Yes.

MR. DAVIS: Specifically 18 U.S.C. Section 1001 makes it a crime to make any materially false, fictitious, or fraudulent statement or representation in the course of a congressional 1-800-FOR-DEPO