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Topic: Madison Guaranty

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	frontline: once upon a time in arkansas: a chronology
		According to McDougal, the Governor jogs by Madison's office and asks that some of the S&L's legal work be given to his wife, Hillary.
		Madison Financial puts up $600,000, its legal limit, and Ward pays $1.15 million, borrowed on a non-recourse loan from Madison Guaranty.
		Madison Guaranty senior loan officer Don Denton has telephone conference with Rose Law Firm attorney Hillary Clinton.
	www.pbs.org /wgbh/pages/frontline/shows/arkansas/etc/chron.html (969 words)

	[No title]
		Madison's problems were twofold: a burgeoning real estate portfolio and specific "hot loans" that had to be moved off the books, Hale said he was told.
		They feared Madison G On July 15, 1986, McDougal, who had moved his office to a mobile home at Castle Grande to avoid examiners, was officially removed from Madison Guaranty by o The regulators, now monitoring Madison Guaranty, demanded an accounting of past-due loans.
		Madison Guaranty used those appraisals to support the value of collateral to finance commercial property, enabling Madison to clear loans and property off t Betts appraised a large portion of land at the center of Castle Grande.
	eserver.org /govt/whitewater.txt (11033 words)

	Madison Ave. Leasehold, LLC v Madison Bentley Assoc. LLC (2006 NYSlipOp 01747)
		Guaranty had presumably expired." On the basis of this rationale—waiver by course of conduct—the court concluded at least implicitly that as a matter of law the guaranty had expired on the third anniversary of the commencement date, thus rendering nugatory Madison's claim against the Millers.
		Rather, Madison's position is that Bentley's repeated defaults (not a default) should have a specific consequence for the Millers: the one for which the parties to the guaranty bargained, i.e., the continuation of the guaranty beyond the third anniversary of its commencement date.
		Madison need not conjure the assistance of any mythical creature to prevail; it needs only to invoke the mundane principle that contracts are to be interpreted and enforced according to their terms.
	www.courts.state.ny.us /reporter/3dseries/2006/2006_01747.htm (6873 words)

	Washingtonpost.com: Whitewater Time Line
		Federal regulators begin to question the financial stability and lending practices of Madison Guaranty, criticizing Madison's speculative land deals, insider-lending and hefty commissions paid to the McDougals and others.
		Madison Guaranty collapses after a series of bad loans and a change in government accounting procedures.
		Republican attorney Jay Stephens is appointed to head the Resolution Trust Corp.'s investigation of the failure of Madison Guaranty.
	www.washingtonpost.com /wp-srv/politics/special/whitewater/timeline.htm (830 words)

	Hubbell Indictment, Nov. 13, 1998
		Madison Guaranty was also subject to federal regulation by the Federal Home Loan Bank Board ("FHLBB"), the Federal Savings and Loan Insurance Corporation ("FSLIC"), and later by the FDIC and the RTC.
		Madison Guaranty officials falsely stated to FHLBB examiners that the cross loans were unrelated to each other and that the cross loans were not connected to Seth Ward's "commissions."
		Madison Guaranty falsely represented to the FHLBB examiners that the two cross loans were unrelated, and that the unfunded second cross loan from Seth Ward to Madison Financial was a temporary measure that evidenced Madison Financial's intention to purchase Holman Acres from Seth Ward.
	www.ardemgaz.com /prev/clinton/whindict111398a.html (4749 words)

	frontline: once upon a time in arkansas: Jim Clark's Testimony
		Prior to arriving at Madison Guaranty, Clark visited the FHLB field office in Little Rock to review previous examination reports, including the supervisory agreement under which the thrift had been operating since 1984, and to meet with Steve Parr, the field office supervisor who scheduled and coordinated examinations in that geographical area.
		The result of the 1986 examination of Madison was that Latham was removed from his management position at Madison Guaranty, McDougal departed as president of Madison Financial Corporation, and the board of directors consented to a cease and desist order.
		With regard to the issue of Madison Guaranty not being placed in conservatorship until March 1989, Clark confirmed that removing management and placing the institution under a cease and desist order, as was done with Madison Guaranty in 1986, can serve the same purpose as a conservatorship, provided that new management is competent.
	pbs.org /wgbh/pages/frontline/shows/arkansas/castle/clarktestimony.html (4258 words)

	Salon Feature \| Smearing Hillary
		But the real bombshell in the Times article was the supposed contradiction between Hillary's account of how her law firm came to represent Madison Guaranty and that of a former colleague named Rick Massey.
		Clinton had been asked not how much work she had done for Madison Guaranty, but how her signature came to be on a letter dealing with Madison Guaranty's 1985 proposal to issue preferred stock.
		Madison Guaranty agreed to a $2,000 per month advance against billings, and the work arrived on Rick Massey's desk the next day.
	archive.salon.com /news/feature/2000/03/06/hillary_clinton/print.html (2735 words)

	CHAPTER 2
		She maintains that she performed "minimal" work for Madison, while others maintain that she was heavily involved in legal work with Madison.
		The records also indicated that she did at least 60 hours of work over a period of 15 months for Madison Guaranty, and that she was paid $2,000 per month.
		Ward obtained a $1.15 million loan from Madison Guaranty to purchase 1,050 acres of real estate which was zoned for commercial use.
	www.angelfire.com /ca3/jphuck/BOOK2Ch2.html (8515 words)

	[No title] (Site not responding. Last check: 2007-10-31)
		Clinton has her Madison files destroyed, the federal government is forced to take over Madison Guaranty because of the huge number of unpaid loans which have piled up -- and then amazingly -- hires the Rose Law Firm to help try and recover some of the millions lost to the taxpayers.
		Clinton's Madison Guaranty billings were greater than all the other attorneys in the Rose Law firm And finally, and perhaps most damning, the documents which show all of this were in the possession of Clinton confidantes weeks before these public statements were issued.
		During this period federal agencies were conducting criminal investigation of Madison Guaranty and the activities of Jim McDougal and the agencies were not informed by the third ranking official at the Department of Justice of the existence of this potential relevant evidence which was located in his own basement.
	www.senate.gov /member/mo/bond/releases/whitewtr.txt (11042 words)

	Statement by Independent Counsel on Conclusions in Whitewater Investigation
		The evidence relating to their testimony and conduct, in connection with this investigation and other investigations involving the same entities, was also, in the judgment of this office, insufficient to prove to a jury beyond a reasonable doubt that either of them committed any criminal offense, including perjury or obstruction of justice.
		The first check was an actual Madison Guaranty loan check, dated Nov. 15, 1982, made out to "Bill Clinton" in the amount of $27,600 that was found, by happenstance, among other Madison Guaranty records in the trunk of a car in July 1997 following a tornado.
		Clinton received a subpoena for all records in her possession involving Madison Guaranty and related entities, a copy of the Rose Law Firm's billing records reflecting the firm's and Mrs.
	www.crimelynx.com /whitetext.html (1749 words)

	[No title]
		While the project was papered to look legitimate, a March 4, 1986 report on the financial health of Madison Guaranty concluded that Castle Grande was doomed to fail from the outset.
		Clinton and another Rose Law Firm attorney "were aware of the restrictions on Madison Guaranty's ability to advance funds to Madison Financial by virtue of their prior representation of Madison Guaranty before the Arkansas Securities Department."22 Second, both the FDIC and the Senate Whitewater Committee Reports include evidence that Mrs.
		Clinton acted with knowledge that Madison Guaranty could not lawfully engage in the straw transactions that resulted in huge commissions to Seth Ward when she prepared documents to facilitate those transactions.
	members.aol.com /beachbt/hillevid.txt (1316 words)

	Ray's Whitewater Statement - CBS News
		The evidencrelating to their testimony and conduct, in connection with this investigation and other investigations involving the same entities, was also, in the judgment of this Office, insufficient to prove to a jury beyond a reasonable doubt that either of them committed any criminal offense, including perjury or obstruction of justice.
		The first check was an actual Madison Guaranty cashier's check, dated November 15, 1982, made out to "Bill Clinton" in the amount of $27,600 that was found, by happenstance, among other Madison Guaranty records in the trunk of a car in July 1997 following a tornado.
		This Office determined that the evidence, including evidence reflected in the billing records of the Rose Law Firm, was insufficient to prove beyond a reasonable doubt that her statements to the RTC regarding these matters were knowingly false.
	www.cbsnews.com /stories/2000/09/20/national/printable234932.shtml (1808 words)

	What Jean Lewis Knows [Free Republic]
		Madison Guaranty had failed several years earlier at a far lower cost to the taxpayers -- approximately $60 million -- than Savers Savings, First Federal and the other top priority institutions.
		Moreover, Madison Guaranty had been the subject of an extensive federal criminal investigation in 1989-90 that had resulted in the 1990 trial and acquittal of James McDougal, the investigation's principal target.
		In light of these factors, Lewis and the FBI agreed that further investigation of Madison Guaranty should be made a low priority, and Lewis scheduled the RTC's investigation of Madison for the final quarter of 1992.
	www.freerepublic.com /forum/a38980a7a245c.htm (8638 words)

	Indictments Against Former Clinton Partners in Offing (Site not responding. Last check: 2007-10-31)
		According to the source, Hale told federal investigators that the Madison loan was part of a scheme to defraud the SBA by artificially inflating his company's assets to give loans to friends and associates, as well as cover bad loans made by Madison Guaranty.
		Hale then took a significant portion of the proceeds from the sale and put them into his company to be used to qualify for matching SBA funds of $500,000 or more.
		Hale used the this new supply of capital, and SBA matching funds, to cover bad loans made by Madison Guaranty before bank examiners conducted an audit.
	www.newsmax.com /articles/?a=1995/8/03/195839 (489 words)

	AllPolitics - Whitewater - Arkansas roots
		Madison's losses were piling up, but the books never showed it.
		Hillary Clinton has denied doing any substantial work for the failed Madison Guaranty, as well as charges that any such work was a conflict of interest because her husband was governor.
		Federal investigators are still looking into charges that much of it came from Madison, in the names of depositors, without their knowledge.
	www.cnn.com /ALLPOLITICS/resources/1999/whitewater/ak.roots.html (1725 words)

	THE REAL NEWS PAGE: Senate Minority Report on Whitewater
		The Special Committee found no evidence that Madison Guaranty's retention of the Rose Law Firm was a scheme for McDougal to confer a financial benefit on the Clintons.
		Although the Special Committee did not investigate the effect this delay had on the losses associated with Madison Guaranty, it is likely that those losses would have been reduced if the federal authorities had heeded Schaffer's recommendation and closed the institution in 1987.
		The evidence collected by the Special Committee indicates that Madison Guaranty needed legal counsel on these two relatively routine legal issues that related to the development of the IDC property.
	www.americanreview.us /sarbane3.htm (3470 words)

	Starr team closes in on Hillary
		Mr Starr noted that "evidence is being gathered and evaluated on, among other things, events related to the Rose Law firm's representation of Madison Guaranty Savings and Loan Association; events related to the firings in the White House travel office; and events related to the use of FBI files".
		In each of these cases Mrs Clinton is at the centre of the alleged wrongdoing, but it is the Madison Guaranty inquiry that is most ominous for her.
		When regulators said that Madison Guaranty should be closed because of insolvency, the Arkansas state government allowed it to remain open.
	www.telegraph.co.uk /htmlContent.jhtml?html=/archive/1998/09/16/wcli16.html (899 words)

	Whitewater scandal
		President Clinton and his wife had invested in this corporation; the Clintons were accused of fraud in connection with this investment during the Securities and Exchange Commission's investigation of the bankruptcy of Madison Guaranty, an Arkansas trust company.
		At Clinton's request, an independent counsel was appointed in 1994 by the Department of Justice to investigate the legality of Whitewater transactions.
		The Clintons were cleared of any wrongdoing in two reports subsequently prepared by the San Francisco law firm of Pillsbury Madison and Sutro for the Resolution Trust Corporation, which was overseeing the bankruptcy of Madison Guaranty.
	www.fact-index.com /w/wh/whitewater_scandal.html (730 words)

	Clintons, scandals go hand in hand
		Federal investigators found evidence that Jim McDougal diverted money from his failing savings and loan, Madison Guaranty, to several of his real estate ventures, including Whitewater.
		Madison was seized by the government in 1989 in a $60 million bailout, and investigators questioned whether the savings and loan got favorable regulatory treatment when Clinton was governor.
		They also accused her of ignoring potential violations of bank regulations in her legal work on Madison Guaranty's Castle Grande real estate venture and trying to cover it up by hiding billing records.
	www.ardemgaz.com /prev/clinton/wixminigates0214.html (1136 words)

	Whitewater Report Clears Clintons (Site not responding. Last check: 2007-10-31)
		At the center of the Whitewater probe was whether Clinton borrowed money from Madison Guaranty, which eventually failed.
		In other matters, Ray concluded that there was insufficient evidence to prove that Clinton, as Arkansas governor, knew of a $300,000 loan from CMS to Susan McDougal or lied about it under oath; or lied under oath about Madison Guaranty's hiring of the Rose Law Firm, which employed Hillary Rodham Clinton.
		The independent counsel concluded that there was insufficient evidence to prove that Hillary Clinton lied about her work as an attorney for Madison Guaranty or obstructed justice in the production of Rose Law Firm billing records.
	www.newsmax.com /articles/?a=2000/9/20/121810 (717 words)

	Thomas Sowell
		Federal bank examiners testified that Madison Guaranty was a "politically corrupt institution that routed millions of dollars to politically connected Arkansans."
		In the more reserved language of an official report, Madison Guaranty was the scene of "embezzlement," "money laundering," "falsification of loan records and board minutes," "wire fraud" and "illegal campaign contributions" -- among other crimes.
		By then, Madison Guaranty had been closed down and federal investigators were on the trail of the frauds.
	www.jewishworldreview.com /cols/sowell091598.html (704 words)

	THE REAL NEWS PAGE: Senate Minority Report on Whitewater
		Madison Guaranty in the context of the nationwide S&L crisis.
		The Arkansas State Agency leases of offices from Madison Guaranty were proper, appropriate and in the normal course of business.
		The Rose Law Firm's work for Madison Guaranty on IDC matters was legitimate, well-documented, and appropriately billed.
	www.americanreview.us /sarbane4.htm (1545 words)

	Final Report of the Independent Counsel In Re: Madison Guaranty Savings & Loan Association (Site not responding. Last check: 2007-10-31)
		The Failure of Madison Guaranty and the Savings and Loan Crisis of the 1980S and 1990S
		The Relationship of Madison Guaranty, CMS, Jim McDougal, the Rose Law Firm, Hillary Rodham Clinton and William Clinton
		Aftermath of the McDougals' Involvement with Madison Guaranty -- Federal Investigations and Attempted Cover-Ups (1986 to 1999)
	icreport.access.gpo.gov /final (324 words)

	Independent Counsel Robert Ray's statement on Whitewater
		At Susan McDougal's 1999 trial for criminal contempt (18 U.S.C. § 402) and obstruction of justice (18 U.S.C. § 1503) for her refusal to testify about matters that included an alleged $27,600 Madison Guaranty loan to President Clinton, the government introduced two checks as evidence of the alleged loan.
		This Office determined that the evidence regarding this alleged loan was insufficient to prove beyond a reasonable doubt that President Clinton borrowed money from Madison Guaranty, caused anyone to borrow money for his benefit from Madison Guaranty, or had any personal loan at any time from Madison Guaranty.
		This Office determined that the evidence was insufficient to prove beyond a reasonable doubt that President Clinton knew of the loan or that his testimony regarding the loan was knowingly false.
	archives.cnn.com /2000/ALLPOLITICS/stories/09/20/whitewater/ray.html (1858 words)

	washingtonpost.com: Foster Report
		Based on the evidence the FBI gathered in its investigation, the Department of Justice did not seek criminal charges for obstruction of justice relating to the handling of the note.
		In 1992 and 1993, the Resolution Trust Corporation (RTC) examined the operations of Madison Guaranty Savings and Loan, a defunct savings and loan in Little Rock, Arkansas, that had been operated by James and Susan McDougal.
		Both the Hale prosecution and the Madison investigation were transferred in November 1993 from the United States Attorney's Office in Little Rock to the Fraud Section of the Department of Justice in Washington.
	www.washingtonpost.com /wp-srv/politics/special/whitewater/docs/fosterii.htm (970 words)

	Howard Taylor, a former loan officer who worked at Madison Guaranty in the early 1980s, said Saturday he saw Bill ... (Site not responding. Last check: 2007-10-31)
		Howard Taylor, a former loan officer who worked at Madison Guaranty in the early 1980s, said Saturday he saw Bill Clinton's na
		Howard Taylor, a former loan officer who worked at Madison Guaranty in the early 1980s, said Saturday he saw Bill Clinton's name on a computer-generated list of outstanding loans.
		Taylor's testimony supports Jim McDougal's story that Madison did fraudulently loan money to Clinton and that Bubba perjured himself under oath last year at McDougal's trial when he claimed otherwise.
	home.comcast.net /~jimsondergeld/TOTP1122.htm (1424 words)

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