Tuesday, March 4, 2008

Wake up world!

Hillary Lends Her Campaign $5 Million – Where Did the Money Come From?(this is from an article by Chris Pearson from little brother forum )

Last week, in this space I wrote that Bill Clinton’s business dealings around the world could create a conflict of interest with respect to Hillary’s position in the U.S. Senate and her candidacy for President of the United States. This week, Hillary showed us all why we should be very concerned.

According to the New York Post: “Sen. Hillary Rodham Clinton loaned her campaign $5 million from her personal bank account late last month, officials acknowledged today — a surprising twist in the deadlocked race for the Democratic nomination…The move came after Clinton’s fundraising for January paled in comparison to rival Sen. Barack Obama’s – he raised a staggering $32 million to her $13.5 million, officials said.”

Now, candidates have from time to time drawn significant funds from their personal accounts to cover campaign expenses. But Hillary Clinton is no ordinary candidate and this is no ordinary campaign. Her husband is a former president who uses his history in the White House to leverage business deals in an unprecedented fashion. Since he left office in 2001, the former president has traveled the world accumulating tens of millions of dollars in speaking fees from foreign interests (such as Dubai and Chinese communist interests). He also seems to have struck business deals with companies that don’t require him to work or to assume any financial risk.

For example, The Wall Street Journal reported just a couple of weeks ago that Bill Clinton is due to receive a $20 million buyout from billionaire businessman Ron Burkle as he severs a relationship with Burkle’s Yucaipa Companies. By Burkle’s own estimate, Clinton averaged about 500 hours per year, or 10 hours per week, on the Yucaipa business without making any financial investment. To say that’s a sweetheart deal is a gross understatement.

Question: What does Burkle expect in return for his generosity? And what about Bill Clinton’s other financial angels, many of whom reside overseas?

As we and other critics have noted, given that Hillary shares a bank account with her husband, payments to Bill Clinton are, in effect, payments to her. It was bad enough that she was a senator on the indirect take, but this is especially troubling now that Hillary has decided to use these assets

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