Word: loaning
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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...
...else," proclaimed the sales brochure for the 42 lots of the Whitewater project near Flippin in northern Arkansas. However, despite the scenic snapshots and the homey-but- hokey handwritten spiel, no one was buying into the forested real estate development. To spur sales, Jim McDougal, a local savings and loan tycoon, % thought he needed a model home -- and the help of one of his Whitewater partners, Hillary Rodham, as she then called herself. In 1980 McDougal loaned her $30,000 to build, own and ultimately sell a three-bedroom ranch-style unit. When the buyer of the home later became...
...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...
...keep pace with consumer demand. Profits soared. Then came the credit crunch orchestrated by economic czar Zhu Rongji, and Shougang felt the sting at once. Customers slashed their orders, and soon Shougang could not pay its bills. The company last month was forced to take out a $70 million loan from the government to keep operating...