Posted on 05/05/2006 10:42:35 AM PDT by Reagan Man
Since leaving the White House, former President Bill Clinton has earned more than $16 million in honoraria from foreign interests, raking in money that could later be used to help finance the expected presidential campaign of his wife, Sen. Hillary Clinton (D.-N.Y.).
Included among the former President’s honoraria was a $300,000 payment for appearing at an Australian conference that was condemned by a prominent Chinese dissident as a propaganda bonanza for the People’s Republic of China.
When I asked Sen. Clinton last week if she had decided whether or not she would use any personal money for her campaign, she said, “Oh, I have no idea.”
Financial Disclosures
The senator’s 2004 Senate financial disclosure report, the latest available, revealed that she and her husband had a joint Citibank Deposit Account that was worth between $5 million and $25 million and which produced between $50,001 and $100,000 in interest. In addition, the disclosure indicated that she shared a Senate Qualified Blind Trust with her husband that was also worth between $5 million and $25 million, and which earned between $100,000 and $1 million interest.
According to campaign finance expert Cleta Mitchell, a partner in the Foley & Lardner law firm, Mrs. Clinton would be entitled to at least half of the funds in joint accounts with her husband, even though New York is not a community property state. “They now treat that [joint investment accounts] as joint property and the FEC would contend that 50% is hers,” said Mitchell.
An FEC spokesman refused to speculate on whether Clinton could liquidate jointly held assets to finance her campaign because the FEC had not issued a formal decision on the matter, but did readily point out that Sen. John Kerry (D.-Mass.) legally borrowed against his wife Teresa Heinz’s assets to help finance his 2004 presidential campaign. Similarly, Mrs. Clinton could borrow against the wealth her husband has accumulated in part through his honoraria to help finance her campaigns.
Former President Ronald Reagan was fiercely criticized in October 1989 when Japanese business giant Fujisankei Communications Group reportedly paid him $2 million for a nine-day visit during which Reagan gave two speeches. Former President Clinton was paid nearly $22 million from 2001 to 2004 for 151 appearances, for which he usually charged a fee of at least $125,000. His highest fee was $400,000. An analysis of Sen. Clinton’s financial disclosures shows that foreign-based groups paid the former President $16.04 million for 89 appearances.
Of Reagan’s visit to Japan, the New York Times editorialized: “[T]he Reagans’ willing participation is as disturbing as their extraordinary compensation. Former Presidents haven’t always comported themselves with dignity after leaving the Oval Office. But none have plunged so blatantly into pure commercialism.” Among the foreign-based groups that paid honoraria to former President Clinton were:
* The Australian Council for the Peaceful Reunification of China: Chinese political dissident Wei Jingheng publicly criticized Clinton when he was hired by the Australian Council for the Peaceful Reunification of China to speak at their conference in Sydney, Australia, in 2002. Jinigsheng said the conference was “a method from the Chinese government of promoting so-called nationalism and as past President of America he should not be participating.” President George W. Bush visited Taiwan that same week and issued a pledge to “help Taiwan defend herself if provoked” by the PRC. Clinton was paid $300,000 for this participation in this conference.
* The Dabbagh Group: The Dabbagh Group is a Saudi financial services, agricultural products, energy services and real estate conglomerate founded in 1962 by Sheikh Abdullah Dabbagh, a former Saudi Arabian minister for agriculture. It was led by the sheikh’s son, Amr Dabbagh, from 1991 until he was appointed by King Fahd in 2004 to become chairman of the Saudi Arabian General Investment Authority. The Dabbagh Group paid Clinton $475,000 for two speeches in 2002, one of which was for Dabbagh’s charitable foundation STARS.
* Marskon Sparks: Markson Sparks is the Australian public relations firm headed by celebrity agent Max Markson who hired Clinton to appear at seven charitable fundraisers, four of which were for children’s hospitals, for fees that started at $125,000 per appearance. Patrons could buy a ticket for $1,100 to Clinton’s children’s hospital fundraiser in Brisbane, or pay $110,000 to gain access to a VIP cocktail party. Markson said he hoped to raise $500,000 from that event for the charity. The company is a major supporter of the Australian Labor Party and makes no secret of raising money for the party. Clinton was paid $925,000 for seven appearances in 2001 and 2002.
* CLSA Ltd.: CLSA is a brokerage, investment and banking group headquartered in Hong Kong but owned by the French-based Credit Agricole. Clinton spoke at two of their events to urge investors and other corporate executives to practice “responsible investing.” At one event at which he was billed with liberal rock-star-activist Bono, Clinton said, “Every person in every corner of the world has a vested interest in solving global problems” and asked leaders to use their power to work for the interests of the poor. Clinton was paid $500,000 for two appearances in 2001 and 2002.
According to Sen. Clinton’s financial disclosure forms, the former President was also paid $200,000 for appearing in Shenzhen, PRC, in 2002 on behalf of the JingJi Real Estate Development Group.
The most shocking thing in this article is the unbelievable news that Bill and Hillary have a joint bank account.
Yeah, THAT is hard to fathom...
This truly nauseates me. And to think the rest of us who earn honest livings struggle just to pay the bills each month while these two utterly vile individuals have amassed millions trading on their having been the worst and most corrupt president in US history, and taking money hand over fist from the same questionable sources they took money from while in the White House. Totally sickening.
In a just, moral and decent world, neither Clinton would have two dimes to rub together because people would have long ago rejected them as hopelessly amoral and utterly vacuous and disengenous. Instead, people rush to fill their bank accounts based on having been utterly snowed and deceived by these two, being made to believe they're people worthy of adulation. In a just world, these two would be worthy of nothing but contempt and no one would give them an ounce of attention much less a penny of their money.
Then I'm suppose to care when liberals say the rest of the world hates America right now, the same foreigners who continue to enrich and enshrine the vapid Clintons as being paragons of honor and virtue? I really have no interest in the world's opinion of either our president or our nation when they show so little character judgment.
This is most likely simple money laundering. Clinton would give $1000 dollar a plate dinner speeches. I would question if anyone actually paid the $1000, or whether the affair is just a means of explaining the $250K or $400K paid to him for 30 minutes of his time.
The big challenge, when you retire from a lifetime of public service, is how to bring your wealth out into the open, and how to explain it. So you set up an institute, to be funded by, who knows who, except that its your own money. You accept a partnership with a law firm for millions per year, for which you perform no function. Its your own money. You maybe build a library which allows you to launder another $250million out into the open. Some of it may be actual donations, but a goodly part of it is your own money routed in through Saudi bank accounts, so it looks like Saudi donations. But its your own money.
Maybe you pay yourself millions to write a book, and for a cut the publisher handles the transaction. You pay one of their staff writers $30K to actually write it, and the rest gets lost in the weeds. Who knows exactly how many copies were actually printed and sold? And, who cares?
Again, in the era of an all pervasive IRS, bringing money out in the open, that you would prefer not to explain, takes a little doing. But there is a whole industry set up to help you do just that.
Hardly news. No mention of Riyadhi or the Suharta money?
What idiot would pay Bill Clinton $500,000 to tell a room full of investors about 'responsible investing'? I'm glad these idiots aren't handling my money since they seem to be wasting their own.
The chi-coms, saudi turds and the french surrender monkeys can influance Americas election yet we are hog tied with McCains legislation of campaign finance reform?
Instead of making inane comments, why not post the information you may have on Clinton's dealings with Riyadhi and Suharta. Inform other Freepers. That is one reason FR exists. Tell us what you know.
Why not just drop it into Swiss accounts and live abroad then?
Yes sir. ;^)
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