Word: loaned
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Dates: during 1990-1999
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...Washington hands point out that suspicions of hiding a scandal usually hurt a President far more than the scandal itself. That seems especially true in this case. The affairs of Whitewater and its partners -- the Clintons, James McDougal, the owner of a failed Arkansas savings and loan, and his wife Susan -- were so convoluted that they defy quick summary. Even the questions that the dealings raise are too complex to fit on a bumper sticker. The press and television paid almost no attention until recently, and then largely because it developed that a file relating to Whitewater had been removed...
...suspicions are somewhat less clear. But there is no question that James McDougal was one of Clinton's money raisers. In particular, it is known that he held a fund raiser in 1985 and came up with $35,000 to help repay Clinton for a $50,000 loan that the Governor had made to his own campaign fund the previous year (making personal loans to their campaigns is a common practice among politicians). There is some suspicion that at least part of the money may have come from Madison's depositors rather than from bona fide individual contributors...
Iowa Republican Jim Leach, ranking minority member of the House Banking Committee, makes this charge explicitly. Says he: "The effect is that the money that flowed into the Clinton campaign to pay back a personal loan of the Clintons' ends up being deferred public financing of a campaign, and not by choice. That is, the money in effect came from an insolvent thrift ((institution)), paid back later by the federal taxpayer" in the form of reimbursements to money-losing depositors. Nothing has been proved, however, and Clinton has denied any knowledge of money improperly diverted into his campaigns...
...more involved with Whitewater and Madison Guaranty than she has let on. According to Denton, some of Bill Clinton's dealings appear rather tangled as well. ) Denton says that in 1978, while he was an officer of Union Bank in Little Rock, he made out a personal loan of roughly $25,000 to Clinton and McDougal to help pay for Whitewater acreage. Denton recalls that within two years the Clinton debt was repaid with proceeds from an unrelated loan made by Union to both McDougal and Jim Guy Tucker, the President's successor as Governor of Arkansas. "It was strange...
...most troubling revelations involves a $300,000 loan to Susan McDougal, part of which was diverted into Whitewater. The lender: Capital Management, a federally sponsored lending company owned at the time by David Hale, a Clinton-appointed judge. Capital also made a large loan to Tucker. But the purpose of Capital was to make loans to "socially or economically disadvantaged persons," hardly the way one might characterize McDougal or Tucker or Clinton. Hale was indicted in September for fraud and has accused Clinton of pressuring him to make the McDougal loan. The Clintons deny exerting any pressure or knowing about...