William Jefferson Blythe Clinton and his wife (then named Hillary Rodham) were "approached" by bankers and land developers Jim and Susan McDougal, major players in the election of Bill Clinton as governor. The McDougals presented a "get-rich-quick" plan to build retirement/vacation homes on the Whitewater River in Arkansas. The plan was to net over a $200,000 by reselling the over 40 lots created by subdividing the land. The Clintons had a combined annual salary of $57,000 per year.

The Mcdougals, due to their involvemnt in the banking business, could not legally invest money in Whitewater Estates. The offer to their friends, the first couple of Arkansas, was that for $500 they would be equal partners (50 percent owners) while the McDougals provided the other $203,000 needed to buy the land.

The Mcdougals did not have the $203,000 necessary to complete the investment so they sought financing. Jim McDougal utilized the Citizen Bank and Trust Company to finance 90 percent of the $203,000. Banks will not normally finance more than half the value of land due to banking regulations. The only thing left was to acquire the $20,000 the bank needed for the down-payment. They acquired the $20,000 from yet another bank! $203,000 was invested and virtually none of it was either the McDougals or the Clintons!

This seems to be a pattern with these players, as other instances of money borrowing without capital or consequence occurs in other dealings involving the Clints, Mcdougal, Former Governor Jim Guy Tucker, and others (See X-File X512A).

In order to stimulate sales they decided to build a sample home on a lot. Since Hillary Clinton was not an official officer of this organization she was utilized as the person to borrow money to build the model. The Bank of Kingston, McDougal's bank, loaned her $30,000 for the project. Since McDougal was involved in the project this has been raised as a likely ethics violation. A lot (lucky number 13) was transferred to her at no cost and used as collateral for the loan. Whitewater Development made the loan payments despite the fact that this was a "personal" load for a private residence. The complication for Hilary Rodham is that she was an employee of the Rose Law Firm which represented McDougal's enterprises (See X-File X302A)

The home finally sold for $27,000. The Clintons did NOT pay the loan off at that time and reportedly pocketed the $3,000 diference. The person who purchased the home died shortly after he purchased it and Hillary Clinton purchased the home from the bank for $8000. At about this time Bill Clinton borrowed $20,000 (with no collateral) to pay the balance on the original $30,000 loan. The load was made from McDougals bank - another likely violation. The home sold later, again, for $28,000 - appearing to be another $8,000 profit. When the real estate market gained momentum the Clintons sold their holdings in Whitewater back to McDougal and claimed that they had lost money in the deal.

Additionally, a junkyard owner found boxes of Whitewater documents in the back of an automobile that had been damaged during a storm. Among those documents was a check from Madison Guaranty to Bill Clinton for $20,000. Bill Clinton had testified that he had not received any loans from McDougal's banks, an apparant perjury. The car lot owner died almost exactly a year later in a mysterious single vehicle auto accident (See X-File X703A).

What makes these events seem so unusual is the close circle of contacts surrounding the President and their involvement in highly unethical and often illegal conduct. When a person is so continually surrounded by such individuals and conducts business with them it is not unreasonable to be concerned that the person himself (or herself) may be involved in similar activities. The search for truth is difficult because of the number of individuals who have died, left the country, and even gone to jail for refusing to answer questions after "waiving the fifth". More time and research is required to come to a final conclusion.

This document subject to change without notice - in order to better communicate my message.