Posted on 04/23/2006 10:18:46 AM PDT by wagglebee
Ex-president Bill Clinton stands to reap "tens of millions of dollars" in personal income from his job as an advisor to Yucaipa Companies, a California private equity firm controlled by one of his best friends and biggest political donors, billionaire Ron Burkle.
The New York Times reports Sunday that the sweetheart deal comes "without great effort and at virtually no risk" for the former president.
"He has put up little of his own money and has no day-to-day responsibilities over how the more than $1 billion in the funds is invested," the paper said.
Mr. Burkle, who built his financial empire by operating supermarkets in Los Angeles, tells the Times that Mr. Clinton's role is to help find investment opportunities for Yucaipa projects.
"He explains to people better than we can why these are good things to invest in," the former bag boy billionaire told the paper Thursday night, while sitting in Mr. Clinton's Harlem office. "If we make money, he makes money."
Though the supermarket magnet declined to offer specifics about Mr. Clinton's jackpot, the Times said that based on Yucaipa's track record, it could reach "into the tens of millions of dollars."
Clinton himself declined to be interviewed about the lucrative arrangement.
But in a 2003 speech he explained that Yucaipa had "earned a phenomenal return investing in three things I care about: in underserved communities, in underperforming companies that are friendly to their workers and their families, and in minority-owned businesses."
"He has put up little of his own money and has no day-to-day responsibilities over how the more than $1 billion in the funds is invested," the paper said.
These same words (except for the reference to "$1 billion") could be used to describe Bill & Hillary's arrangement with Susan and Jim McDougal in the good old Whitewater days: Clinton puts up nothing, bears no risk, and stands to benefit from other investors' putting up investment dollars and taking the risks associated with entrepreneurial ventures. I wonder if this Burkle deal involves defrauding retirees of the life-savings before throwing them out on the street the way Whitewater was expected to work...
I remember in some of the details of the S&L scandal, Hillary was angry that she couldn't take the tax write-off from the losses being generated even though she and Bill had put up no money. And long after Whitewater dissolved into the S&L scandal that would cost tax-payers $46 million, Clinton's advisors in the White House urged him to get out of the Whitewater deal, B&C signed over their "rights" to the deal but didn't declare the transaction for tax filing purposes (McDougal was relieving them of exposure to a signficant debt -- it was like being given a major gift without declaring the gain for tax purposes... I wonder if Hillary paid the taxes on her brilliant cattle-futures investing, either...).
Can America really be stupid enough not to see what awaits should Hillary be elected President???
So he has been instructed to go with his strengths.
He will lie.
"For what does it profit a man to gain the whole world, and forfeit his soul?" "For what will a man give in exchange for his soul?" (Mark 8:36-37)
... "and the rich man also died and was buried. "In Hades he lifted up his eyes, being in torment..." (Luke 16:22-23)
Psalm 73
1 Surely God is good to Israel, To those who are pure in heart!
2 But as for me, my feet came close to stumbling, My steps had almost slipped.
3 For I was envious of the arrogant As I saw the prosperity of the wicked.
4 For there are no pains in their death, And their body is fat.
5 They are not in trouble as other men, Nor are they plagued like mankind.
6 Therefore pride is their necklace; The garment of violence covers them.
7 Their eye bulges from fatness; The imaginations of their heart run riot.
8 They mock and wickedly speak of oppression; They speak from on high.
9 They have set their mouth against the heavens, And their tongue parades through the earth.
10 Therefore his people return to this place, And waters of abundance are drunk by them.
11 They say, “How does God know? And is there knowledge with the Most High?”
12 Behold, these are the wicked; And always at ease, they have increased in wealth.
13 Surely in vain I have kept my heart pure And washed my hands in innocence;
14 For I have been stricken all day long And chastened every morning.
15 If I had said, “I will speak thus,” Behold, I would have betrayed the generation of Your children.
16 When I pondered to understand this, It was troublesome in my sight
17 Until I came into the sanctuary of God; Then I perceived their end.
18 Surely You set them in slippery places; You cast them down to destruction.
19 How they are destroyed in a moment! They are utterly swept away by sudden terrors!
20 Like a dream when one awakes, O Lord, when aroused, You will despise their form.
21 When my heart was embittered And I was pierced within,
22 Then I was senseless and ignorant; I was like a beast before You.
23 Nevertheless I am continually with You; You have taken hold of my right hand.
24 With Your counsel You will guide me, And afterward receive me to glory.
25 Whom have I in heaven but You? And besides You, I desire nothing on earth. 26 My flesh and my heart may fail, But God is the strength of my heart and my portion forever. 27 For, behold, those who are far from You will perish; You have destroyed all those who are unfaithful to You. 28 But as for me, the nearness of God is my good; I have made the Lord GOD my refuge, That I may tell of all Your works.
I'd like to know the names of any businesses affiliated w/Yucaipa, so I can do business elsewhere.
And they bitch about oil executives?
At least they do something for their coin.
Lord I pray people wake up and see her for who she really is, an opportunistic, I'll be nice and stop there. God knows New York voters who put her in office are blind!
"deferred bribery"...So..when does he become a RIADY V.P.?
It's absurd to refer to Hillary Clinton as The First Lady. She hasn't his first and she won't be his last.
And most importantly:
SHE'S NOT EVEN A LADY!
With my apologies to used car salesman everywhere.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
And well you should apologize.
I wonder if Ron Burkle understands that this Faustian bargain could easily result in financial ruin, prison and death for him.
You're right. I really meant that Clinton is nothing but a glorified pimp.
He'll have the opportunity to pimp here also just like he did for 8 years in the White House.
The dangerous thing about Burkle is his fortune and his ability to get pension plans like CalPers to go along with his left wing financial deals.
I agree, she's tough to take...I don't understand the NY voter either. I hope John Spencer can give her a run for the money.
Great point: "You have to be a lady before you can be the First Lady".
... he nonetheless knows how to draw a crowd.
...in a previous life, he was refrigerator magnate.
One word "Whitewater"
The good news is, california breast implants come with a small chip that plays music.
Women have long complained that men look at their breasts, and never listen.
That must be one damn big magnet.
Doesn't any newspaper have a competent editor anymore?
L
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