I wasn't aware Ray had the power to pardon anyone. Ray did get Clinton to admit he gave misleading statements during the probe of his relationships with Monica Lewinsky and Paula Jones. Clinton accepted a five-year suspension of his law license, agreed to pay a $25,000 fine to cover counsel fees, and acknowledged a violation of one of the Arkansas model rules of professional conduct because of testimony in his Paula Jones case deposition. He was also disbarred from the SCOTUS bar. He settled the Paula Jones case and paid court and counsel fees and restitution and been held in civil contempt for his deposition testimony regarding Monica Lewinsky.
Many did want Bush to pardon to Clinton, but he didn't. Had Ray pursued an indictment for perjury against Clinton, he'd have been tried by regular people and they'd have never convicted him. It would have gained the GOP nothing.