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Clinton's Burkle Ties Include Funds in Cayman Islands
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hillarynews
Joined: 24 Jan 2007
Posts: 2255
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 Posted: Tue Dec 18, 2007 8:00 am Post subject: Clinton's Burkle Ties Include Funds in Cayman Islands |
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 Clinton's Burkle Ties Include Funds in Cayman Islands
Former President Bill Clinton's decision to reconsider a business relationship with California billionaire Ron Burkle reflects concern those financial dealings may embarrass his wife's presidential candidacy.Securities and Exchange Commission documents and financial- disclosure forms filed by Hillary Clinton show that Bill Clinton, 61, has a financial stake in three investment entities registered in the Cayman Islands by Burkle's Yucaipa Cos. LLC.
Category: Top Story
Former President Bill Clinton's decision to reconsider a business relationship with California billionaire Ron Burkle reflects concern those financial dealings may embarrass his wife's presidential candidacy.Securities and Exchange Commission documents and financial- disclosure forms filed by Hillary Clinton show that Bill Clinton, 61, has a financial stake in three investment entities registered in the Cayman Islands by Burkle's Yucaipa Cos. LLC.In 2004, Hillary Clinton, a New York senator, said she wanted to close the ``loopholes'' for ``people who create a mailbox, or a drop, or send one person to sit on the beach in some island paradise and claim that it is their offshore headquarters.''The former president's possible decision to move away from Burkle ``is all tied up with the laws of appearance and the politics of perception,'' said Linda Fowler, professor of government at Dartmouth College in Hanover, New Hampshire. ``The world being what it is, people are attracted to the spouse of somebody with political power. The level of potential conflict is just that much higher with a former president and a senator who would be president.''Moreover, added Fowler, ``with this particular couple, somehow, the whole story doesn't come out except in dribs and drabs.''Bloomberg News last month submitted a list of questions to the Clinton campaign regarding the former president's involvement in the three Caymans-based funds. The campaign didn't respond to the queries until Dec. 13, after the New York Times reported that Clinton plans to dissolve his five-year partnership with Burkle, a longtime friend and important fund-raiser for both Clintons.`An Appropriate Transition'Jay Carson, a Clinton spokesman, said that while the former president hasn't ``severed ties'' with Yucaipa, he ``is taking steps to ensure'' that ``there will be an appropriate transition for those relationships'' if his wife receives the 2008 Democratic presidential nomination.Carson, in an e-mail, said the funds are designed for foreign investors. ``All three of these entities (which are related) are organized in the Cayman Islands so that each investor or partner pays the taxes they would owe in their home country,'' he said. ``For U.S. citizens like Bill Clinton, that means he pays U.S. taxes on his income from this fund, which he does.''
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Source: The Hillary Project
Description: reporting the news about Hillary that the media refuses to |
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