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Whitewater Scandal and Hillary Clinton
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10/9/2016 12:42:28 AM
Posted: 5 months ago
More Clinton Scandal.
The Whitewater controversy involved the real estate dealings of then-Arkansas Attorney General Bill Clinton, Hillary Clinton and their friends Jim and Susan McDougal. The four created the Whitewater Development Corp., a real estate venture for developing land in Arkansas, which subsequently failed. Criminal allegations were brought up over the loans, transactions, legal representation and deals made over Whitewater. While Bill and Hillary Clinton were never prosecuted, Jim and Susan McDougal were both sentenced to time in prison.
The Whitewater scandal (also known as the Whitewater controversy, or simply Whitewater) began with an investigation into the real estate investments of Bill and Hillary Clinton and their associates, Jim and Susan McDougal, in the Whitewater Development Corporation, a failed business venture in the 1970s and 1980s.
A March 1992, New York Times article published during the U.S. presidential campaign reported that the Clintons, then governor and first lady of Arkansas, had invested and lost money in the Whitewater Development Corporation. The article stimulated the interest of L."Jean Lewis, a Resolution Trust Corporation investigator who was looking into the failure of Madison Guaranty Savings and Loan, owned by Jim and Susan McDougal. Lewis looked for connections between the savings and loan company and the Clintons, and on September 2, 1992, she submitted a criminal referral to the FBI naming Bill and Hillary Clinton as witnesses in the Madison Guaranty case. Little Rock U.S. Attorney Charles A. Banks and the FBI determined that the referral lacked merit, but Lewis continued to pursue the case. From 1992 to 1994, Lewis issued several additional referrals against the Clintons, and repeatedly called the U.S. Attorney's Office in Little Rock and the Justice Department regarding the case. Her referrals eventually became public knowledge, and she testified before the Senate Whitewater Committee in 1995.
David Hale, the source of criminal allegations against the Clintons, claimed in November 1993, that Bill Clinton had pressured him into providing an illegal $300,000 loan to Susan McDougal, the Clintons' partner in the Whitewater land deal.Clinton supporters regarded Hale's allegations as questionable, as Hale had not mentioned Clinton in reference to this loan during the original FBI investigation of Madison Guaranty in 1989; only after coming under indictment in 1993, did Hale make allegations against the Clintons. A U.S. Securities and Exchange Commission investigation did result in convictions against the McDougals for their role in the Whitewater project. Jim Guy Tucker, Bill Clinton's successor as governor, was convicted of fraud and sentenced to four years of probation for his role in the matter. Susan McDougal served 18 months in prison for contempt of court for refusing to answer questions relating to Whitewater. The Clintons themselves were never prosecuted, after three separate inquiries found insufficient evidence linking them with the criminal conduct of others related to the land deal, and Susan McDougal was granted a pardon by President Clinton before he left office.
"What Donald Trump is doing is representing the absolute heartbreak, and anger, and frustration at a government gone mad."