Glass houses: Clinton and offshore accounts from Bloomberg news

[Windy]

http://www.propeller.com/viewstory/2007/12/19/clintons-burkle-ties-include-funds-in-cayman-islands-update1/?url=http%3A%2F%2Fwww.bloomberg.com%2Fapps%2Fnews%3Fpid%3D20601070%26sid%3DaiQEVoQ5nt5E%26refer%3Dhome&frame=true


Dec. 17 (Bloomberg) -- 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.


To contact the reporters on this story: Timothy J. Burger in Washington at [email protected] ; Ryan J. Donmoyer in Washington at [email protected] .

Last Updated: December 17, 2007 10:45 EST

EDITED TO COMPLY WITH DU'S COPYRIGHT POLICY

[msongs]

1. bloomberg.net? is this an endorsement of bloomberg? nt

[Pirate Smile]

3. Avoid the issue, attack the messenger. Good deflection technique.

[papau]

2. So investing in a company that relocated to the Islands is bad - guess GE and the rest of

the Fortune 100 should get rid of the subs that are in the Islands for tax reasons -

so I guess we can't own Mutual Funds - man - I have to sell everything tomorrow I guess.

[rox63]

9. So now it's OK to invest in tax-evading, job-outsourcing corporations?

And make milllons of $$ in the process?

[thunder rising]

4. why listed as Los Angeles-based rather than Cayman Islands entities?

CAUSE THEY DIDN'T WANT TO ANSWER THESE QUESTIONS? It might make it look like Hillary and Edwards are cut from the same disingenuous cloth. Does Obama have Cayman tax shelters?

[thunder rising]

5. An American corporation who relocates it's headquarters offshore

needs to be treated as a foreign corp. Oh, but wait, they got tax breaks for offshoring their headquarters. And Hillary and Edwards are just poor victims of circumstance.

[KittyWampus]

11. I'd say it's just a matter of time til we find out what Obama's money is invested in.

[Windy]

6. Kick so the article is read!!! nt

[Windy]

7. Kick again... nt

[Windy]

8. kick n/t

[ursi]

10. the Clintons haven't learned to close their own loopholes, eh?

[THUNDER HANDS]

12. wow, how can I get a job as the guy who sits on the beach?

I want that position.