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ARKANSAS CONNECTIONS
[Since the Democrats seem determined to nominate Hillary Clinton, we
thought we would offer a little historical context from our time line of
Arkansas and the Clintons, with particular emphasis on those things the
mainstream media forgot to tell you]
1985
Roger Clinton pleads guilty to cocaine distribution but cops a plea on
more serious charges with a promise to cooperate. He will serve a short
prison term.
Mrs. Clinton is put on a $2,000 a month retainer by Madison Guaranty.
Jim McDougal will later write in his book that the payments were in lieu
of his earlier system of passing money to Bill Clinton. Ms. Clinton will
later claim not to have received any retainer nor to have been deeply
involved with Madison. Subsequent records show, however, that she
represented Madison before the state securities department. After the
revelation, she says, "For goodness sakes, you can't be a lawyer if you
don't represent banks."
Bill Clinton establishes the Arkansas Development Finance Authority that
will be used, in the words of one well-connected Arkansan as "his own
political piggy bank." Though millions of dollars are funneled to
Clinton allies, records of repayments will be hazy or non-existent. AFDA
brags to prospective out-of-state corporations of Arkansas' anti-union
climate. Dan Lasater is a major underwriter and gets a $30 million bond
deal for state police radios even as the governor's stepbrother Roger is
making a bargain with the US attorney to testify against Lasater in a
drug case.
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.
Arkansas state pension funds -- deposited in Worthen by Governor Bill
Clinton -- suddenly lose 15% of their value because of the failure of
high risk, short-term investments and the brokerage firm that bought
them. The $52 million loss is covered by a Worthen check written by Jack
Stephens in the middle of the night, an insurance policy and the
subsequent purchase over the next few months of 40% of the bank by
Mochtar Riady. Clinton and Worthen escape a major scandal.
Lippo executive and Chinese native John Huang becomes active in Lippo's
operations in Arkansas. China Resources pays for a Lippo-organized trip
to Asia by Governor Clinton, according to a later FBI interview with
John Huang.
Mochtar and James Riady engineer the takeover of the First National Bank
of Mena in a town of 5,000 with few major assets beyond a Contra supply
base, drug running and money-laundering operations.
Terry Reed is asked to take part in Operation Donation, under which
planes and boats needed by the Contras "disappear," allowing owners to
claim insurance. Reed has been a Contra operative and CIA asset working
with Felix Rodriguez, the Contra link to the CIA and then-Vice President
Bush's office. Reed later claims he refused, but that his plane was
removed while he was away.
Park on Meter, a parking meter manufacturer in Russellville, Arkansas,
receives the first industrial development loan from the Arkansas
Development Finance Authority in 1985. Some suspect that POM is doing a
lot more than making parking meters -- specifically that it has secret
federal contracts to make components of chemical and biological weapons
and devices to carry them on C-130s for the Contras. The company later
denies the Contra connection although it will admit having secret
military contracts. Web Hubbell is the company's lawyer. Right next to
POM, on land previously owned by it, is an Army reserve chemical warfare
company.
A series of checks to Clinton and his campaign are endorsed and
deposited in Madison S&L. One of the checks -- a cashiers check in the
amount of $3,000 -- has the name of a 24-year-old college student on it.
When informed of this in 1993, the then-student, Ken Peacock, will deny
having made any such donation.
Whitewater fails to file corporate tax returns for this year.
Asa Hutchinson leaves the US Attorney's office to make an unsuccessful
bid for US Senate. According to police sources, Hutchinson had been
aware of what was happening at Mena and the investigation into it, but
did nothing. Hutchinson is replaced by Mike Fitzhugh who is reluctant to
let investigators Russell Welch of the state police and William Duncan
of the IRS present evidence of money-laundering to a grand jury.
Jim McDougal sets up a late controversial land deal called Castle
Grande.
According to Ambrose Evans-Pritchard, on June 4, 1985, the diary of
Arkansas State police lieutenant Russell Welch says that an agent from
the DEA "informed me in strictest confidence that it was believed,
within his department, that [major drug transporter] Barry Seal is
flying weapons to Central and South America. In return he is allowed to
smuggle what he wanted back into the United States".
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ARKANSAS CONNECTIONS
[Since the Democrats seem determined to nominate Hillary Clinton, we
thought we would offer a little historical context from our time line of
Arkansas and the Clintons, with particular emphasis on those things the
mainstream media forgot to tell you]
1985
Roger Clinton pleads guilty to cocaine distribution but cops a plea on
more serious charges with a promise to cooperate. He will serve a short
prison term.
Mrs. Clinton is put on a $2,000 a month retainer by Madison Guaranty.
Jim McDougal will later write in his book that the payments were in lieu
of his earlier system of passing money to Bill Clinton. Ms. Clinton will
later claim not to have received any retainer nor to have been deeply
involved with Madison. Subsequent records show, however, that she
represented Madison before the state securities department. After the
revelation, she says, "For goodness sakes, you can't be a lawyer if you
don't represent banks."
Bill Clinton establishes the Arkansas Development Finance Authority that
will be used, in the words of one well-connected Arkansan as "his own
political piggy bank." Though millions of dollars are funneled to
Clinton allies, records of repayments will be hazy or non-existent. AFDA
brags to prospective out-of-state corporations of Arkansas' anti-union
climate. Dan Lasater is a major underwriter and gets a $30 million bond
deal for state police radios even as the governor's stepbrother Roger is
making a bargain with the US attorney to testify against Lasater in a
drug case.
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.
Arkansas state pension funds -- deposited in Worthen by Governor Bill
Clinton -- suddenly lose 15% of their value because of the failure of
high risk, short-term investments and the brokerage firm that bought
them. The $52 million loss is covered by a Worthen check written by Jack
Stephens in the middle of the night, an insurance policy and the
subsequent purchase over the next few months of 40% of the bank by
Mochtar Riady. Clinton and Worthen escape a major scandal.
Lippo executive and Chinese native John Huang becomes active in Lippo's
operations in Arkansas. China Resources pays for a Lippo-organized trip
to Asia by Governor Clinton, according to a later FBI interview with
John Huang.
Mochtar and James Riady engineer the takeover of the First National Bank
of Mena in a town of 5,000 with few major assets beyond a Contra supply
base, drug running and money-laundering operations.
Terry Reed is asked to take part in Operation Donation, under which
planes and boats needed by the Contras "disappear," allowing owners to
claim insurance. Reed has been a Contra operative and CIA asset working
with Felix Rodriguez, the Contra link to the CIA and then-Vice President
Bush's office. Reed later claims he refused, but that his plane was
removed while he was away.
Park on Meter, a parking meter manufacturer in Russellville, Arkansas,
receives the first industrial development loan from the Arkansas
Development Finance Authority in 1985. Some suspect that POM is doing a
lot more than making parking meters -- specifically that it has secret
federal contracts to make components of chemical and biological weapons
and devices to carry them on C-130s for the Contras. The company later
denies the Contra connection although it will admit having secret
military contracts. Web Hubbell is the company's lawyer. Right next to
POM, on land previously owned by it, is an Army reserve chemical warfare
company.
A series of checks to Clinton and his campaign are endorsed and
deposited in Madison S&L. One of the checks -- a cashiers check in the
amount of $3,000 -- has the name of a 24-year-old college student on it.
When informed of this in 1993, the then-student, Ken Peacock, will deny
having made any such donation.
Whitewater fails to file corporate tax returns for this year.
Asa Hutchinson leaves the US Attorney's office to make an unsuccessful
bid for US Senate. According to police sources, Hutchinson had been
aware of what was happening at Mena and the investigation into it, but
did nothing. Hutchinson is replaced by Mike Fitzhugh who is reluctant to
let investigators Russell Welch of the state police and William Duncan
of the IRS present evidence of money-laundering to a grand jury.
Jim McDougal sets up a late controversial land deal called Castle
Grande.
According to Ambrose Evans-Pritchard, on June 4, 1985, the diary of
Arkansas State police lieutenant Russell Welch says that an agent from
the DEA "informed me in strictest confidence that it was believed,
within his department, that [major drug transporter] Barry Seal is
flying weapons to Central and South America. In return he is allowed to
smuggle what he wanted back into the United States".
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