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Clintons dissolve blind financial trust
MSNBC ^ | June 15, 2007 | By John Solomon

Posted on 06/15/2007 7:56:10 AM PDT by COUNTrecount

Bill and Hillary Clinton have dissolved the blind trust that has managed their investments since they entered the White House in 1993, converting all stocks to cash to avoid financial conflicts as she runs for president, according to documents to be filed today with federal ethics officials.

The documents reviewed by The Washington Post provide the most complete accounting of how the Clintons accrued $5 million to $25 million in wealth -- nearly all since leaving the White House -- through investments in foreign companies, oil giants and drugmakers without their input or knowledge and without public disclosure.

The former president has also derived substantial income from speeches to companies and interest groups as his wife runs for the White House, earning nearly $6 million in the first five months of this year on top of the $40 million he earned over the prior five years, the documents show.

In one such engagement this March, the Boys and Girls Club of Los Angeles paid Bill Clinton $150,000 to hear him speak, the papers show.

The former president also is working on another book and last year formed a limited-liability corporation to manage his share of an investment partnership run by longtime friend and California supermarket magnate Ronald Burkle, the Office of Government Ethics filing shows.

The Clintons were told earlier this year by federal ethics officials that they would need to reorganize their blind trust to comply with laws for presidential candidates, which differ from those for senators.

The couple chose instead to dissolve the trust on April 27 and convert all their stocks to cash to avoid any questions about possible conflicts of interests, the Clintons' legal and financial advisers said.

(Excerpt) Read more at msnbc.msn.com ...


TOPICS: News/Current Events
KEYWORDS: burkle; clintons; fundingtheleft
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1 posted on 06/15/2007 7:56:11 AM PDT by COUNTrecount
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To: COUNTrecount
"In one such engagement this March, the Boys and Girls Club of Los Angeles paid Bill Clinton $150,000 to hear him speak."

THAT is despicable....what a .....can't say it....

2 posted on 06/15/2007 7:58:04 AM PDT by goodnesswins (Being Challenged Builds Character! Being Coddled Destroys Character!)
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To: goodnesswins

oh good, another reason not to donate to BCGC


3 posted on 06/15/2007 7:59:15 AM PDT by Mercat
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To: COUNTrecount

they supposedly have more than ten million dollars. how about sharing it with the “children”?

then they can sell the estate in chappaqua and give that to the “children” too.

then all future speaking fees.


4 posted on 06/15/2007 7:59:25 AM PDT by ripley
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To: COUNTrecount

COVERUP- this somehow will allow Hillary to hide more of waht she and Bill have been up to


5 posted on 06/15/2007 8:00:17 AM PDT by dennisw (The fear of the Lord is the beginning of knowledge: but fools despise wisdom and instruction)
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To: COUNTrecount

Converting everything to cash. OH, that’s handy! And Slick Willy took $150,000 from the Boys and Girls Clubs for speaking to them. WHo in these clubs was the weasel who decided to ask him to speak, and then agree to enrich him by $150,000?


6 posted on 06/15/2007 8:01:37 AM PDT by twonie (Keep your guns - and stockpile ammo.)
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To: COUNTrecount
These so called "blind" trusts are scams meant to impress the bubbas. All these pols know EXACTLY what's going on in their accounts.

Also, as I recall, they didn't get their "blind trust" going until more than a year in office.

7 posted on 06/15/2007 8:02:09 AM PDT by DManA
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To: COUNTrecount

What is it with Boys and Girls Clubs and their need to give vast sums of money to RATs?


8 posted on 06/15/2007 8:03:11 AM PDT by NonValueAdded (Brian J. Marotta, 68-69TonkinGulfYachtClub, (1948-2007) Rest In Peace, our FRiend)
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To: COUNTrecount

Recall that *Hillary* did not have a blind trust until after the scandal of her buying hedge fund stocks on pharmaceuticals on the eve of her making her “Hillary-care” speech. Her speech resulted in a roughly 40% loss in equity for pharmaceuticals as a whole, and massive research cutbacks and layoffs in the industry...while she made substantial money off of it.


9 posted on 06/15/2007 8:03:19 AM PDT by lepton ("It is useless to attempt to reason a man out of a thing he was never reasoned into"--Jonathan Swift)
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To: twonie

Money laundering!


10 posted on 06/15/2007 8:03:53 AM PDT by ClaireSolt (Have you have gotten mixed up in a mish-masher?)
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To: dennisw
COVERUP- this somehow will allow Hillary to hide more of waht she and Bill have been up to

Bingo!

11 posted on 06/15/2007 8:04:40 AM PDT by COBOL2Java (The Democrat Party: radical Islam's last hope)
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To: twonie

C’mon now. Whatever the disgraced, impeached former president (and accused molesterer) has to say is so very, very important, doncha know?


12 posted on 06/15/2007 8:05:15 AM PDT by Nomorjer Kinov (If the opposite of "pro" is "con" , what is the opposite of progress?)
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To: goodnesswins
  "In one such engagement this March, the Boys and Girls Club of Los Angeles paid Bill Clinton $150,000 to hear him speak."

Yeah, I know what you mean. That makes me want to throw up.
13 posted on 06/15/2007 8:05:16 AM PDT by Mike-o-Matic
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To: dennisw

DING-DING-DING! The winnah!


14 posted on 06/15/2007 8:06:19 AM PDT by Old Sarge (This tagline in memory of FReeper 68-69TonkinGulfYachtClub)
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To: lepton

The blind trust held stock in pharmaceutical companies, including $250,000 -$500,000 in Biogen Idec and Johnson & Johnson and $100,000-$250,000 in Amgen, Pfizer and GlaxoSmithKline. It also invested in General Electric and Raytheon, two leading defense contractors. The trust had a varied portfolio, with investments in numerous other companies.

The Clinton campaign will disclose the details of the blind trust and other financial activity in a disclosure report to be filed Friday with the Federal Election Commission and the Office of Government Ethics. Hillary Clinton’s Senate disclosure report, made public Thursday, only covered activity in 2006 and did not reflect this year’s liquidation of the blind trust


15 posted on 06/15/2007 8:06:36 AM PDT by COUNTrecount
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To: COUNTrecount

Shouldn’t she be sending her Exxon “Windfall” profits back to the proletariet??

Pray for W and Our Troops


16 posted on 06/15/2007 8:08:09 AM PDT by bray (The co-clintons freed more bombers then they caught)
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To: DManA
Also, as I recall, they didn't get their "blind trust" going until more than a year in office.

As I recall, he did, but most of the assets were left in her name until she got caught manipulating situations and investing in them. Being that she held no office and had no techincal authority, there was apparently no requirement for her to put her money in a blind trust. She made the most of it, while costing thousands their jobs and causing losses of tens of billions of dollars in the equity of manipulated industries.

17 posted on 06/15/2007 8:08:19 AM PDT by lepton ("It is useless to attempt to reason a man out of a thing he was never reasoned into"--Jonathan Swift)
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To: dennisw
Speaking of such...aren’t the Clintoon’s building a new house in the Dominican Republic? Things that make you go hummmmmm.
18 posted on 06/15/2007 8:08:59 AM PDT by alice_in_bubbaland (I will respect illegal aliens civil rights, when they respect the sovereignty of the US!)
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To: COUNTrecount

Now, if any of the investments that she held now drop in value (like Cheney’s did after he sold them),

will the press and the kooks jump on her like they did on Cheney for “insider trading”? yeah, right....


19 posted on 06/15/2007 8:11:08 AM PDT by MrB (You can't reason people out of a position that they didn't use reason to get into in the first place)
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To: DManA
as I recall, they didn't get their "blind trust" going until more than a year in office.

It was something like that. Hillary was selling short stock in pharmaceutical companies at the same time she was chairing the health care reform task force that was threatening to regulate drug prices, which of course caused the price of stock in pharmaceutical companies to fall...

20 posted on 06/15/2007 8:12:12 AM PDT by Pilsner
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