Bobby. wrote on Apr 15
th, 2023 at 7:16am:
I see. So let's move onto your next claim, shall we?
Quote:The most infamous example is the Whitewater controversy, in which then-Governor and First Lady of Arkansas, Bill and Hillary Clinton, invested in the real-estate company Whitewater Development Corporation, which was owned by two of their closest associates at the time, James and Susan McDougal. The McDougals also owned a savings and loan association called Madison Guaranty.
In 1978, the Clintons were sweet-talked into a deal by a developer called James McDougal. Bill and Hill went in with Jim and his wife Susan and formed the Whitewater Development Corporation. They took out a loan of $180,000 and put the money into some land they planned to turn into cattle country.
Bill and Hillary became governor and first lady in 1979, but Whitewater turned out to be a dud. Floods, stagflation, an inaccessible location, and interest rates rose sharply, killing the project, which went belly under. The Clintons had been stiffed. They cut their losses.
Anyway, Jim moved onto his next deal, buying a small savings and loan company, Madison Guaranty. He used the company to defraud its investors and another outfit, Capital Management Services, for $3 mil. Jim got caught. In the end, the failure of these two companies ended up costing the federal government around $73 mil, federal insurance provided as a response to the Savings and Loans crisis.
Multiple investigations and trials followed. Jim, Susan and thirteen others were convicted for various white collar crimes, including fraud. The whole thing was investigated by independent counsel Kenneth Starr. While various allegations were thrown around and rumoured, the Clintons were ultimately found to be victims of Jim and other's dodgy business practices.
Ken Starr, of course, would pop up a little later in Bill's political life, leading some to assume he'd made it his life's work to get Bill. Either way, Starr could find nothing on the Clintons for Whitewater. In 1997, Jim McDougal died of a heart attack in the Fort Bragg Federal Correctional Centre, Texas.
So that's Whitewater - Bill and Hill formed a failed business venture with parters who went on to commit totally unrelated crimes.
Would you like to discuss your Dear Leader's own business practices?
Mr Trump spent seven hours in court yesterday, being sued by the state of New York for business fraud - overinflating assets and underinflating profits. New York is seeking $250 mil in unclaimed taxes and want Mr Trump and his family banned from doing business. Mr Trump invoked his Fifth Amendment right to avoid self-incrimination hundreds of times to avoid questions.
https://thehill.com/regulation/court-battles/3950243-trump-answered-questions-fo...Mr Trump's chief financial officer has already been convicted and sentenced to five months on Riker's Island.
You?