Word: madison
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Lady, some of them under oath. At various times, they or their spokespeople have alleged that the Clintons had virtually nothing to do with Whitewater and were simply "passive" investors; that the McDougals didn't really absorb significantly more losses than the Clintons; that Hillary wasn't responsible for Madison Guaranty's becoming a client of the Rose firm; that she wasn't familiar with a real estate development called Castle Grande and didn't work...
...covered by McDougal. With more interest and principal payments due, 1985 was even worse. Only one lot was sold. Negative cash flow was over $75,000, requiring even more payments from McDougal. At about the same time he was retaining Hillary and the Rose firm, McDougal had Madison Financial, his S&L's investment subsidiary, pay him a "bonus" of $30,000, payable to Whitewater, according to minutes of a Madison board meeting. The money was deposited directly in the Whitewater account, the one instance where money went directly from Madison into Whitewater. The Clintons weren't asked...
Rose records don't indicate any Madison Guaranty payments in the immediate months after the meeting between McDougal and the Governor, but the following spring, Hillary scheduled a visit with McDougal, arriving late in the morning of April 23. After his experience in the Governor's office, McDougal wasn't nearly as enamored of Hillary as he had once been, but they were still cordial. After some pleasantries, Hillary mentioned that her husband had suggested she stop by. "Fine," McDougal said. Honoring his commitment made earlier to Bill, he said, "I'm sending you some work...
Hillary suggested Madison Guaranty pay the firm a monthly retainer, and McDougal seemed surprisingly amenable. "Two thousand a month should cover it," he suggested. The details he'd leave to Latham, McDougal added, though he assumed Hillary would be the partner in charge and would get credit within the firm for the business. As he saw it, the whole matter was a favor to the Governor...
...turn of events came as a surprise to Massey, the Rose associate who ended up doing most of the work. Latham called Massey shortly after to discuss a stock offering the S&L wanted to make. It was the first Massey knew of Madison Guaranty's having become a client...