« previous | MUCK HOME | next »

Hillary Clinton Rents Out Donor List To... Hillary Clinton
Here's a cool way to get out of debt most Americans probably wish they had as an option: Hillary Clinton's presidential campaign made $2.5 million this year renting out its list of supporters to Hillary Clinton's campaign for Senate, the Wall Street Journal reports today, following up on last week's Politico item. That's enough to pay back the $2.3 million the campaign still owes to her campaign strategist Mark Penn.
Clinton's now-dormant political action committee, Hill PAC, also paid $822,000 to rent the list, and the William J. Clinton Foundation paid "more than $274,000" to rent the list. Why the sweetheart deal for her husband? Maybe it wasn't as valuable to an entity that already has a 2,922-page list of its own. The campaign tells the Journal the prices were set by outside appraisers. It made another $1 million renting out the list to 18 other customers, which paid an average of $50,000 apiece.
The significance of this, apart from "campaign finance is complicated," according to the Journal, is that Hillary is "holding onto" the list in "part of a plan that looks to retain an element of [her] political operation while she serves as secretary of state."
The last big development in the epic saga of the Clintons' long and complicated relationship with money came last month, when the Journal reported that Bill Clinton had backed out of partnerships in funds worth potentially $20 million with his friend Ron Burkle's Yucaipa Cos. One of the funds had put Clinton in the tricky position of directly partnering with Sheik Mohammed bin Rashid Al Maktoum, the ruler of Dubai. (Even trickier, in a 2007 deal in which Clinton didn't participate, that fund invested in Xinhua Finance Media, a direct descendant of the official state-owned (and heavily-censored) Party mouthpiece. Burkle had previously gotten Clinton involved with Rafaello Follieri, the former boyfriend of actress Anne Hathaway who is now serving a 54-month prison term for a real estate scam that involved, among other things, the 30-year-old Follieri's false claim to be the chief financial officer of the Vatican.

















If it's not illegal then it's an ingenious way to transfer money around. Sometimes I get the feeling that the Clintons really like threading the needle...
April 29, 2009 12:30 PM | Reply | Permalink
Mark Penn gave horrifically awful advice, screwed up her campaign every which way, sullied her reputation as his other clients became public knowledge, and took insane amounts of money for it. Why is she paying him instead of suing him? The financial movements look shifty, and all to pay Penn. What hold does he have over her?
April 29, 2009 1:16 PM | Reply | Permalink
hillary is paying Penn because she was in charge and she took his advice against that of others...This is a continuation of the tortured relationship with honesty and morals that the clintons have shown for decades!
Nothing new...it is about them hook or crook...maybe that should have been hook and crook!
She is playing a minor role @ State and willie is staying in the background...We could not get the donors to the table to pay off her debt---even when Obama did the 'ask'! Last resort creative finance the clinton way!
April 30, 2009 12:12 PM | Reply | Permalink
Others paid an average of $50K but related entities paid multiples of that? Outside appraiser or not, that's got a bad smell to it and sounds like moving money to avoid finance law requirements.
April 29, 2009 3:00 PM | Reply | Permalink
These lists are like everything else in the world. They are worth what somebody will pay for them. That is Capitalism at work. This transfer of money from one organization to another is done all the time and is perfectly legal - even when both organizations are controlled by the same person and the benefits all accrue to that person.
It is just "good" business sense.
Like AIG moving all the profits out of AIGFP and then requiring a taxpayer funded bailout because those profits are no longer there and AIGFP is now showing massive losses.
At least Hillary is not asking for a federal bailout. She is covering her losses in one organization with profits from another.
May 1, 2009 10:24 AM | Reply | Permalink