Cindy McCain said on a TV morning show that she would never release her tax returns, even if she was elevated to First Lady. An independently wealthy heiress, she may have good reason to keep her finances, which she thinks have nothing to do with politics, private. The case of William Jefferson Clinton is more troubling, because his wife is using jointly owned assets to finance her increasingly remote chance of winning the Democratic nomination for president. The Clinton tag team arrangement creates an apparent conflict of interest: using former president Bill Clinton as a frontman to raise cash and effectively bypass efforts to make campaign finance more transparent and less subject to influence peddling. Clinton spokesman, Howard Wolfson, disclosed that Hillary's loans to her campaign since April 11th total $6,425,000 and come from Clinton joint assets. Her February loan to her campaign of $5 million came from her own funds. Since leaving the White House Bill has crisscrossed the globe on speaking engagements. He has made 250 speeches and earned more than $40 million in fees over six years. Some sponsors have paid as much as $450,000 to bring him to their events. Some of these speeches were for organizations that have a big stake in government policy or regulation affecting their business or other interests. Some examples:Citigroup: paid $500,000 for three appearences in 2004 and 2006;
Deutsche Bank paid $300,000 for two speeches in 2005;
Mortgage Bankers Association paid $150,000 for a 2006 speech. Both banks and the association's members would be adversely affected by changes in mortgage regulation in the wake of the sub prime lending crisis.
America's Health Insurance Plans, a health insurance business lobbying group, paid $150,000 for Bill to speak in Las Vegas in 2005. Defeating national health insurance legislation is critical to their industry's continued profitability.
Ronald Burkle: is head of private equity and hedge funds that made Bill millions. The funds are fighting a change in a tax loophole that Hillary favors eliminating.
Jewish Groups have paid more than $3 million for Bill to speak at synagogues and museums. Both Clintons are vocifierous supporters of the state of Israel. She went so far as to express her willingness to "obliterate" Iran.
[cartoon credit: Pat Oliphant]