Word: mcdougals
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Then there was an incident in which McDougal in effect swapped 20 Whitewater building lots, almost half the project's total, for little more than a twin- engine Piper Seminole airplane that was later sold for a loss of $13,000. That loss was absorbed by Madison Guaranty's depositors, but federal taxpayers eventually had to pick up the tab through the RTC. Another intriguing factor is that the plane was at one point owned by Seth Ward, the father-in-law of Webster Hubbell, then a law partner of Hillary's and now Reno's top deputy...
...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 division show that Schaffer was quite tough on Madison. In the middle of 1986, state...
Enter David Hale, an Arkansas judge and head of a lending company that was backed by federal money. Hale claims that in 1986, Clinton, who had appointed him to the bench, and McDougal pressured him to arrange a $300,000 loan to clean up some dubious Madison Guaranty loans. Hale did approve a loan of that amount to McDougal's wife, but $110,000 went into Whitewater. Clinton denied exerting any pressure and said he had been unaware of such money winding up in Whitewater. Hale proposed to Casey that he have himself wired up to record incriminating conversations, perhaps...
...recused herself from both the Hale and Madison cases, but most belatedly, last November. She would have trouble claiming impartiality; she had been a law student of Bill Clinton's and a volunteer in all his campaigns. Her husband works for Arkansas Governor Tucker, who had many dealings with McDougal. After Casey's recusal, the Justice Department in Washington took over the investigation; pending possible appointment of a special counsel, it is being run by Donald Mackay, a senior trial attorney -- and a Republican...
...important to note that no one has offered proof of any criminal activity. Even if anyone did, it would be very difficult to prove the Clintons knew of it and approved. Who would be a credible witness against them? James McDougal insists they did nothing wrong, appearing last week on the tabloid TV A Current Affair to make the point. Even if he were to decide otherwise, he has suffered a mental breakdown. Susan McDougal is separated from him; last week she pleaded not guilty to a California indictment charging her with embezzling $200,000 from symphony conductor Zubin Mehta...