General Discussion
In reply to the discussion: Looks like Obama's on the cusp of fulfilling his dream [View all]truedelphi
(32,324 posts)Couple owed money for lawsuits, including the lawyers that were paid to assist them in various lawsuits, at the time that they left the WH.
But like so many other government officials, Clinton knew that once he was out of office, the "good deeds" he had done would finally pay off. For instance, back when the bank reform measure was stumbling around in Congress:
- NYTimes.com
Oct.-Nov. 1999 Congress passes Financial Services Modernization Act after 12 attempts in 25 years, Congress finally repeals Glass-Steagall, rewarding financial companies for more than 20 years and $300 million worth of lobbying efforts. As pretty sycophantic article in NYT stated (Citis Creator, Sandy Weill, Alone With His Regrets ):
To create Citi, Weill fought to change laws that had prevented banks, insurers and brokerage firms from merging. But in the wake of the economic crisis last year, Congress has introduced laws to reinstate parts of the legislation. In November, Mr. Weills former co-C.E.O. at Citi, John Reed, told Bloomberg News that he was sorry for his role in helping to end Glass-Steagall.
When asked about Mr. Reeds apology, Mr. Weill says: I dont agree at all. Such differences, he says, were part of our problem.
Mr. Reed, who lost a battle with Mr. Weill for control of Citi, declined to comment for this article.
<snip>
Mr. Weill personally recruited Robert Rubin to Citi after Mr. Rubin stepped down as Treasury secretary. Mr. Rubin, who has since left Citi and declined to comment about his tenure there, has been criticized as failing to help rein in the banks excesses.
<snip>
Analysts say that managerial problems plagued the Citi empire and that its board, which might have imposed some order, became little more than a rubber stamp during the Weill era. Sandy surrounded himself with yes men, says Mr. Whalen. He never wanted anyone second-guessing him. At the time supporters hailed the change as the long-overdue demise of a Depression-era relic. So on Oct. 21, with the House-Senate conference committee deadlocked after marathon negotiations, the main sticking point is partisan bickering over the bill's effect on the Community Reinvestment Act, which sets rules for lending to poor communities.
Sandy Weill calls President Clinton in the evening to try to break the deadlock after Senator Phil Gramm, chairman of the Banking Committee, warned Citigroup lobbyist Roger Levy that Weill has to get White House moving on the bill or he would shut down the House-Senate conference. Serious negotiations resume, and a deal is announced at 2:45 a.m. on Oct. 22.
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Remember, If Bill had wanted to - he could have vetoed the banking "reform" bill. But he didn't want to do that. Possible renumeration, such as the offered speeches with the huge fees, and also his wife's need to be able to raise monies from Wall Street to support her bids for office, were most probably part of his considerations.
And again, Bill himself has stated that the couple had no serious money at their disposable when they left the WH. That quote has been spotted more than a dozen times on various financial blogs.
Also, here is a synopsis of their holdings from CNN:
http://money.cnn.com/galleries/2007/moneymag/0712/gallery.candidates.moneymag/index.html