Clinton’s Home Loan Deal Raises Questions
Fund-raiser and friend Terry McAuliffe, with the first family in Syracuse on Thursday, guaranteed the mortgage on the Clintons’ new New York home. (AP)
Saturday, September 4, 1999;
After President Clinton and fund-raiser extraordinaire Terry McAuliffe played a round of golf in upstate New York on Tuesday, the president made an unscheduled visit to St. Camillus Nursing Home to visit McAuliffe’s ailing 79-year-old mother, Millie, who recently had hip replacement surgery.
Later in the week, McAuliffe returned the favor – and then some. When former White House chief of staff Erskine B. Bowles at the last minute balked at guaranteeing a $1.35 million mortgage for the Clintons’ new house in Chappaqua, N.Y., McAuliffe rode to the president’s rescue.
In a move that enables the Clintons to buy the house – and Hillary Rodham Clinton to have a base for her New York Senate run – the 42-year-old real estate developer and dealmaker pledged to put up $1.35 million in cash to secure a mortgage for the Clintons. Otherwise, swamped by more than $5 million in legal debts, the Clintons might have had difficulty obtaining the loan for the five-bedroom, century-old house.
http://www.washingtonpost.com/wp-srv/politics/campaigns/keyraces2000/stories/house090499.htm
Of course, our guys always play nice-nice when they’re in charge at DOJ.