We haven’t seen them yet, but already speculation is mounting that the Clintons have made themselves a tidy little fortune in the last 8 years under the Bush regime.
Financial disclosure documents already filed by the New York senator show she and her husband, former president Bill Clinton, have made at least $50 million since leaving the White House in 2001. ABC News investigative reporter Brian Ross takes an early crack at divining what details may be revealed from the Clinton’s tax returns, which her campaign has said will be released within the next two weeks.
The tax returns, Ross says, “will answer a lot of questions about how they made so much and whether they paid their taxes like average Americans — or the like the super rich they’ve become.”
Fifty million dollars (and that’s the low ball estimate) is a pretty good haul for any ex-President not named George H.W. Bush. The question that remains is whether they paid taxes on that money at the same rates that ordinary citizens do, or whether they took advantage of the numerous ways wealthy people can avoid paying taxes? Also, who exactly paid Bill all that swag, not to mention the money donated to his charitable foundation (whose financial reports are unlikely to ever see the light of day)?
Well here’s a clue as to where some of the money came from:
Former President Clinton stands to reap around $20 million — and will sever a politically sensitive partnership tie to Dubai — by ending his high-profile business relationship with the investment firm of billionaire friend Ron Burkle. […]
The former president has had links to Yucaipa since early 2002, when Mr. Burkle — a longtime friend and political contributor — offered him a role there. Mr. Clinton’s association with the firm began at a time when he was looking to earn large amounts of money, partly to pay heavy legal bills accumulated to defend himself and Mrs. Clinton from several investigations during his presidency.
Now, as he negotiates with Yucaipa to withdraw from the relationship, he is a wealthy man, thanks partly to tens of millions of dollars he has earned making speeches around the world. […]
Mr. Clinton is also looking to close out partnership interests in a Yucaipa fund that focuses on investing in foreign companies. This fund — called Yucaipa Global Partnership Fund LP — has raised several hundred million dollars from a range of investors. Unlike his deal to advise the two Yucaipa domestic funds, Mr. Clinton invested an undisclosed sum of his own money in the global fund and has a limited partnership interest.
Mr. Clinton is also one of three owners of the global fund’s general partner. The others are Mr. Burkle, who is the managing member, and an entity connected to the ruler of Dubai, Sheikh Mohammed bin Rashid al-Maktoum.
How much did Big Dog get for all those speeches? Brian Ross estimates at least $47 million. In 2005 he received $7.5 million, and in 2002 he raked in $9.5 million, from speeches given in such exotic locales as Abu Dhabi, and “the Bahamas, Hong Kong, Denmark, Switzerland, France, Mexico, Colombia, Brazil, Spain and Russia.” He’s also given speeches to Business executives here in North America. Good money if you can get it, and get it he has. One has to believe that some of those fees and other financial arrangements like his connection with billionaire Ron Burkle, as well as the donations to his charitable foundation, were made as a way to ensure friendly treatment from Mrs. Clinton should she ever find herself back in the White House as President. To believe otherwise would be naive.
And just imagine how much they could continue to make should Hillary win the election? Long term, this isn’t just about what Hillary can do for you, it’s also about what she and Bill can do for themselves. Haven’t we had enough of that style of politics over the last three decades?
