Wednesday, May 28, 2003

Sphere: Related Content

The Wall Street Journal lays out the whole Whitewater deal in a damning chronology;

1985

January: Roger Clinton pleads guilty to cocaine distribution charges and is given immunity from further prosecution in exchange for cooperation. He testifies before a federal grand jury and serves a brief prison sentence.

Jan. 16: Gov. Clinton appoints Beverly Bassett Schaffer, a longtime associate, to serve as Arkansas State Securities Commissioner.

March: Mrs. Clinton receives from Madison Guaranty the first payment of a $2,000-per-month retainer. Madison's accounting firm, Frost & Co., issues a report declaring the savings and loan solvent.

April 4: Jim McDougal hosts a fund-raiser to help Gov. Clinton repay campaign debts. Contributions at the fund-raiser later draw the scrutiny of Whitewater investigators.

April 7: The New Jersey securities firm Bevill, Bresler & Schulman files for bankruptcy amid fraud charges and an estimated $240 million in losses; one of the biggest apparent losers is Stephens-dominated Worthen Bank, which holds with Bevill $52 million of Arkansas state funds in uncollateralized repurchase agreements.

April 30: Hillary Clinton sends a recapitalization offer for the foundering Madison Guaranty to the Arkansas Securities Commission. Two weeks later, Ms. Schaffer informs Mrs. Clinton the plan is approved, but it is never implemented.

October: Governor and Mrs. Clinton lead a trade delegation to Taiwan and Japan.

Jim McDougal launches the Castle Grande land deal.


Read the whole thing and tell me what you think of the Clintons when you're done.

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