What I kept looking for as I read your post was your explanation for why the Bush Justice Department is as corrupt as Clinton's was, and even more importantly, why Bush is apparently too weak to do anything about it.
lawdude gave you all the clue to the answers to your questions in post #32.
Yes, Bush senior worked closely with clinton when he was Vice President and clinton was governor of Arkansas. They formed a triumvirate with General Noriega, since deposed, in the drug smuggling operations at Mena Airport. The CIA ran the operation.
However, I would differentiate between the motives of Bush Sr. and clinton. Bush Senior, working under Reagan, did it in order to arm the Contras against a threat of a Communist takeover of South America, after the leftists in the Senate pulled their funding. In other words, he did scummy things for patriotic reasons. Clinton, on the other hand, did scummy things purely for profit.
During the Mena operation, a hundred million dollars disappeared from the operating funds. Vanished. The thief had to be either Noriega, Bush, or clinton. Most people think it was clinton. That's my bet.
So, yes, Bush senior is vulnerable. But a blanket pardon was issued on the Iran Contra business. And how can clinton blackmail Bush without exposing himself to much worse criticism? What, is he going to go to the Times and say, "We ran a drug smuggling operation?" I don't thinks so. Most people are fully aware of what happened, but bringing it out into the open without smearing mud on themselves would be very, very difficult.