Former New South Wales Labor minister Eddie Obeid has told a corruption inquiry he does not believe his family does anything "shonky".

The 70-year-old has also told the Sydney hearing that he cannot recall receiving money from a lucrative family trust.

Mr Obeid was in the witness box for a second day as part of an Independent Commission Against Corruption (ICAC) probe into allegedly rigged coal mine tenders in the state's central-west.

It followed a fiery and ill-tempered session yesterday during which Mr Obeid was threatened with being found in contempt of court.

Counsel-assisting Geoffrey Watson told Mr Obeid that he hated to get the day off to a bad start but needed answers to some questions.

At one point he asked Mr Obeid to focus and said, "look at me".

Holding up an incriminating document, Mr Watson said to Mr Obeid: "You don't intend to tell the truth do you?"

Mr Obeid said he could not recall getting money from a family trust, even though he set it up, and admitted he trained as an accountant when he first came to Australia.

He also could not recall if his wife had an income or would be able to pay back a $1.7 million loan from a trust account.

Mr Watson quizzed him on a transaction:

Watson: "Why is Obeid Corporation directing its money, $1.5 million, into the credit on your loan account of the Obeid Family Trust Number One? Explain that," he said. Obeid: "I don't know." Watson: "Looks shonky doesn't it?" Obeid: "No, you haven't asked the right people to explain it, I can't explain it, but I don't believe it looks shonky. I don't believe my family does anything shonky."

During another exchange, Mr Obeid boasted about his wealth.

Watson: You were able to squirrel away these dollars and cents, as a result of scrimping on your politician's salary? Obeid: Oh, Mr Watson ... Watson: No, don't "Mr Watson" me... Obeid: Well don't come and say I'm squirreling away anything. I've spent more money than you've made in a lifetime. Watson: But you were telling the people of NSW, and I was one of them, that you had no income aside from your parliamentarian's salary. Commissioner David Ipp: Mr Obeid, if you've spent more money than Mr Watson has earned in a lifetime, where have you got the money from? Obeid: I've made money over the years Mr Commissioner, more money than you can imagine, before I came into parliament. I was very successful in my business life.

High-profile 'guests'

Sorry, this video has expired Tempers have frayed during Eddie Obeid's testimony to the ICAC. (AAP: Dean Lewins)

Frustrated with Mr Obeid dodging around questions for a second day, Mr Ipp said the ICAC would sit until he started providing answers.

Mr Ipp said he did not mind if it took days of Mr Obeid "making speeches".

At one point, Mr Obeid snapped that he would answer a question the way he wanted to.

The inquiry also heard that in 2008 there were 399 phone calls between Mr Obeid and former mining minister Ian Macdonald, but Mr Obeid said they were of a political nature.

He has previously denied colluding with Mr Macdonald to get inside knowledge on mining tenders which could have made him and his associates $100 million.

The ICAC also heard during questions that Mr Macdonald stayed for free at the Obeid family's ski lodge at Perisher.

But Mr Obeid said the family was generous to friends, and that federal minister Bill Shorten, NSW Opposition Leader John Robertson, former premier Morris Iemma, Carl Scully, Tony Burke and Mark Arbib had stayed there also.

A spokeswoman for Mr Robertson says he and his family stayed in 2007 while he was the head of Unions NSW.

Meanwhile, a spokesman for Mr Shorten says the minister has never been to the Perisher resort and that he cannot ski.

The Leader of the Government in the Senate, Stephen Conroy, says he has stayed at the ski lodge.

Senator Conroy says he stayed there for two days in either 2005 or 2006 and that no member of the Obeid family was present at the time.

Mr Burke, the Environment Minister, says he stayed at the lodge with his family in 2004 and 2006.

Taped phone call

The ICAC also released a secretly recorded phone call between Mr Obeid and businessman Greg Jones.

In it, Mr Jones complains that Mr Obeid's sons, "the boys", are "acting a bit stupidly".

"We need common sense to prevail here my son," Mr Jones said.

ICAC phone taps Listen: "Acting a bit stupidly"(Strong language warning)

Mr Obeid encourages Mr Jones to meet with the boys to discuss the problems.

Yesterday, Mr Obeid told the ICAC he did not know how confidential mining maps got into the family's Sydney headquarters and denied knowing his sons were buying two properties because they were covered by a new mining tenement.

In the taped conversation, Mr Obeid also tells Mr Jones that he cannot wait to leave politics, but "they" keep delaying him.

"I just want to hand my resignation in and finish it all," he said.

Mr Jones tells him, "don't go yet ... I'll tell you why when I see you".

Mr Obeid has finished his evidence. Four of his sons are due in the witness box later this week.