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To: long-gone who wrote (41845)	10/2/1999 9:04:00 AM
From: long-gone	Respond to of 116768

Rep. Hefley -The Clinton White House Legacy A new low standard in Ethics (House of Representatives - October 28, 1997) (Mr. HEFLEY asked and was given permission to address the House for 1 minute and to revise and extend his remarks.) Mr. HEFLEY. Mr. Speaker, there is a great deal of talk these days about the legacy that this administration will leave. I think it is fair to say that this White House has indeed set a new standard of ethics. I think it is fair to say that this White House has set a new standard in the use of the Lincoln bedroom. I think it is fair to say that this White House has set a new standard in terms of raising money on Federal property. I think it is fair to say that this White House has set a new standard in terms of deciding which rich donors get to accompany the Secretary of Commerce on trade missions. I think it is fair to say that this White House has set a new standard in terms of raising money at Buddhist temples, shaking down impoverished Indian tribes. Using the IRS for political purposes, rewarding top dollar fund-raisers with Commerce Department jobs, making huge money from cattle futures while declaring moral outrage at the decade of greed, and coming up with the "I don't recall" defense whenever the subject turns to raising money. I agree, that is quite a legacy. reagan.com On October 11, 1978, while Bill Clinton was attorney general of Arkansas, Hillary Clinton opened a futures account with a broker named Robert L. "Red" Bone. She traded the account under the guidance of James Blair. Blair was then an attorney working as outside counsel to Tyson Foods Inc., a large Arkansas food chicken-processing firm. Bone had formerly worked for Tyson Foods. She put $1,000 into the account and apparently gave Blair authority to manage it. Over the next year, profits from the account were just under $100,000. Hillary Rodham Clinton was allowed to order 10 cattle futures contracts, normally a $12,000 investment, in her first commodity trade in 1978 although she had only $1,000 in her account at the time, according to trade records the White House released yesterday. Hillary Clinton has said she made all the trading decisions herself and has tried to play down Blair's role. But she acknowledged in April, three weeks after her trades were first disclosed, that Blair actually placed most of the trades Some believe a scheme was designed to surreptitiously transfer an illegal bribe or gratuity to Clinton in exchange for a political favor or for political influence. They believe that Don Tyson--a major political supporter of Clinton--was the benefactor. Here is a simple example of how a dishonest broker could achieve this objective: Execute buy and sell orders in the same contract. The contract price will eventually go up or go down. If it goes up, assign the profitable buy trades to the favored account and assign the losing sell trades to an account owned by the benefactor. If the price falls, assign the profitable sell trades to the favored account and assign the losing buy trades to the benefactor's account.

To: long-gone who wrote (41845)	10/2/1999 6:02:00 PM
From: Henry Volquardsen	Read Replies (1) \| Respond to of 116768

Boy Richard, did you ever hit one of my hot buttons. I have always had major questions and concerns about the cattle futures trading. Political opinions and partisanship aside, I have always felt this to be the most damning question regarding the Clintons. I have seen people offer explanations for the various Clinton scandals with varying degrees of success and plausibility but I have NEVER seen anyone come close to a reasonable explanation. I know a little bit about futures trading and the physical evidence on this stinks to high heaven. I haven't heard any rumours, however, that Mrs Clinton was trading gold futures. As to why this hasn't been addressed more fully by either the Justice Dept or the press, your guess is as good as mine. Richard, I am not fully conversant on the specifics of the charges against Martin Armstrong. It was, however, my impression, that the main charges were that he committed fraud involving managed funds. I hadn't heard anything regarding manipulation of gold market prices. I could be mistaken. If you have a specific reference I will check into it. Just so you know, I met Mr Armstrong several times in the early 80s and once took a seminar he offered. I have had not had contact with him since and strongly doubt he remembers me. I've read a number of his reports and respect his macro-economic analysis. Henry