'This Week' Transcript: Larry Summers & Michael Steele

To the extent that we gave the Washington Post the documentation to show the receipts that were -- that were used and applied towards the $37,000, it was a legitimate reimbursement of expenses. If my sister had not been reimbursed, I and she would have been in violation of McCain-Feingold finance law.

STEPHANOPOULOS: Yet the records show -- and I hope you can clear this up, as well...

STEELE: Sure.

STEPHANOPOULOS: ... that the payment was made in December 2007, and your sister's company had been dissolved 11 months before that.

STEELE: Well, that was -- that's -- that I don't know about. What I do know about is the fact that, as she understood it, the company was still in existence. Her lawyers were -- were telling her they were in the process of dissolving the company.

So at the time when the checks were written back to her to reimburse her, she just said go ahead and write the checks to the company, because the company had, you know, done the services that were provided.

But, again, even in that instance, you can still -- there are many companies out there that dissolve and still receive payments for services that are rendered, and so forth. So I -- that aspect of it for me is, again, is clarified, cleared up with the lawyers, and was a legitimate transaction back to her.

STEPHANOPOULOS: And all of the other allegations in -- in the article about financial transfer is false?

STEELE: It's all false. Everything -- the thing about this, George, that is so frustrating to me is that you're -- you're -- you're looking -- the Washington Post elevated this -- this guy to a level and gave him credibility when no one else would. That's disturbing.

The fact is, we've supplied -- all these documents are on record with the state board of elections, with the FEC. And I think, if there were any funny business there, in two-and-a-half years -- because they audit, and the lord knows I have enough Democrats pouring through my records to -- you know, in the last few years, they would have caught that. So this is...

STEPHANOPOULOS: You say it's been cleared up, but the Washington Post also reports that federal agents have contacted your sister just in the last few days.

STEELE: And that is for purposes of closing out this -- closing out this matter, because, once the judge -- once the judge did not apply or did not think that this was credible, in terms of reducing this gentlemen's sentence, the FBI is now in the position of winding this thing...

(CROSSTALK)

STEPHANOPOULOS: So they have told you, you are not being investigated?

STEELE: I have not -- this is the thing. I have not been contacted by the FBI at all. And what we sent to the Washington Post is, would you just wait? You're getting ahead of yourselves here. You're trying to make a story out of something that isn't a story. We'll provide you with the information.

STEELE: We faxed to them, gave to them the receipts, all the documentation that we have.

And let me tell you one other thing, George. We're going to -- we're being very proactive about this, because I'm sick and tired of this -- this "gotcha" business that the Washington Post and other -- others in the media attempt to engage in.

We're getting out in front. We're pulling all the data together. We're going to take it to the FBI. I'm not going to wait for them to come to me. I'm going to take it to them and give them everything that they think they need. And if that's not enough, we'll give them more...

STEPHANOPOULOS: OK.

STEELE: ... because I want to clear up my good name. This is not the way I intend to run the RNC, with this over my head. We're going to dispense with it immediately.

STEPHANOPOULOS: Thank you for sharing that this morning.

STEELE: Thank you.

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