Word: ls
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Dates: during 1990-1999
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Stephens is in fact still investigating the collapse of Madison Guaranty Savings and Loan for the RTC, the government body that cleans up the affairs of failed S&Ls, in part to look for evidence of fraud that would enable the RTC to file civil claims to recover some of the $47 million that Madison's failure cost taxpayers. That probe would almost inevitably delve into the alleged flow of money between Madison and Whitewater Development Co., in which the Clintons were partners with James McDougal, Madison's former owner. Thus the participants in the vain attempt to get Stephens...
Those rosy opinions were sandwiched between totally contrasting judgments by the Federal Home Loan Bank Board, which supervised S&Ls whose deposits were insured by the Federal Government, as Madison's were. In a 1984 audit, the bank board warned that Madison's "investment and lending practices in real ( estate developments" were jeopardizing its "viability." In 1986, eight months after the second Massey letter, another bank-board audit cited a hair- raising list of "problems," including "conflicts of interest, high-risk land developments, poor asset quality . . . inadequate income and net worth, low liquidity, securities speculation, excessive compensation ((presumably to officers...
Suspecting check kiting and other abuses, the Resolution Trust Corp., the federal body formed to clean up the affairs of failed S&Ls, referred the matter to the Justice Department in 1992 for investigation and possible prosecution. The referral, which has never been made public, mentioned the Clintons, but in what capacity is uncertain. People who have seen the referral say it definitely did not identify the Clintons as suspected wrongdoers. Some say they were named as potential witnesses, or as people who might have benefited from improper activities, though perhaps unwittingly. As investigators delve more deeply into the tangled...
...another charge leveled by Leach, who cannot conveniently be accused of blind partisanship. He is, in fact, perhaps the least partisan Republican in the House. One reason for the contention: at the start of 1985, Clinton appointed Beverly Bassett Schaffer as head of the state department that regulates S&Ls. Later, Schaffer approved a proposal for an unusual stock sale to shore up McDougal's already troubled S&L. The proposal was presented by none other than Hillary Clinton, acting as attorney for Madison Guaranty. The stock sale, however, never went into effect, and records in the Arkansas state security...
...Evening News with Dan Rather, Asian-American journalists seem to be fixtures in almost every big-city local-news telecast. The time is long gone when white Americans would expect visages with a Far Eastern cast to belong to restaurant or laundry operators who confused their rs and ls: younger-generation Asians in California often speak like Valley Girls and hum tunes from...