By Jon Birger, senior writer
FORTUNE MAGAZINE
...when I discussed Clinton's plan with a more sympathetic economist - one who'd worked for Bill Clinton - his reaction was much like mine and Duncan's. "This is an ugly correction, but it's a necessary one," says Jared Bernstein, senior economist with the liberal-leaning Economic Policy Institute. "This kind of an idea is a little bit of untying your shoes with a buzz-saw."Read the whole thing
Well, said a friend of mine, Hillary, blaming evil corporate sub-prime lenders, forgets to mention some salient facts. She was a partner in two 'failed' real-estate ventures, each of which defrauded taxpayers of millions of dollars in federally guaranteed loans. She should have some familiarity with customer culpability in their own defaulted mortgage loans.
Further, the infamous "lost billing records" are hers from a real estate development legal client she represented called Castle Grande, although the corporate name was different. Hillary and the Bubba were partners, in this one, as well as in Whitewater Development Corp (with Jim and Susan McDougal.)
But, regarding the failed Castle Grande, Hillary testified before the Grand Jury as the attorney for Castle Grande, that she did not know it was the corporation she knew as a different name--a corporation in which she and her "husband" were partners! She claimed to be only the "Billing Partner," and the supporting documents to apply for mortgage loans were purportedly prepared by underlings. Now, the billing records which disappeared, and which mysteriously re-appeared, in the residence of the White House, were for work done on behalf of the partners developing Castle Grande, i.e., her real estate project. The work in question created fraudulent applications for mortgage loans that far exceeded the value of the property. The project went bust; the American taxpayers took the loss.
The fraud was facilitated by sham purchases and sales of the property, performed by Web Hubbell's uncle, to make the value appear higher than it actually was. If you ask Hillary if this is not the type of fraud that caused some loans to be granted in error in the present crisis, she would probably answer in the same way she did in the grand jury hearing, multiple times: "I can't recall."
Although many mortgage defaults have been caused by people who misrepresent property values, or borrower income, Hillary's participation as the legal representative, as well as a partner, in the Castle Grande fraud, stands out as one of the most egregious examples in our history. So, she lectures us about corporate greed.
~~Robert Gismondi (Reseda, California)
P.S. In the Whitewater situation, Counselor Hill represented the taxpayer insured failed lender, Madison Guaranty Bank, in bankruptcy proceedings. Later, she represented the state agency that regulates financial institutions, to liquidate the assets of the failed Madison Guaranty Bank. You see, kids, her hubby was the gov.! And their antics were so outrageous, they are difficult for most people, and all libs, to believe.
But believe them you must, folks. My friend lived through all that and knows what he is talking about. This is our country, damn it! And, there's an arsenal of info that will really leave no stone unturned if you need more:
Hell to Pay: The Unfolding Story of Hillary Rodham Clinton by Barbara Olson
Rewriting History by Dick Morris
Investigation of Whitewater Development Corporation U.S. Senate
High Crimes and Misdemeanors by Ann Coulter
The initial investigations by the media were by The American Spectator, and the Los Angeles Times.
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