WSJ: Bill Clinton May Get Payout of $20 Million

[milkyway]

By JOHN R. EMSHWILLER
January 22, 2008; Page A1

Former President Clinton stands to reap around $20 million -- and will sever a politically sensitive partnership tie to Dubai -- by ending his high-profile business relationship with the investment firm of billionaire friend Ron Burkle.

Mr. Clinton is negotiating to end his relationship with Mr. Burkle's Yucaipa Cos. as part of a broader effort to protect the presidential campaign of his wife, Sen. Hillary Clinton, from potential conflicts of interest. Details of Mr. Clinton's involvement in Yucaipa and his efforts to unwind it come from documents and interviews with people familiar with the matter.

<snip>

Mr. Clinton is also one of three owners of the global fund's general partner. The others are Mr. Burkle, who is the managing member, and an entity connected to the ruler of Dubai, Sheikh Mohammed bin Rashid al-Maktoum.

Severing the tie to Dubai, a U.S. ally, will remove a potentially tricky problem for Mrs. Clinton. Questions raised about the activities of sovereign wealth funds -- giant pools of money controlled by foreign governments -- have become a campaign issue, as the funds have made a spate of multibillion-dollar investments in such corporate giants as Citigroup Inc. and Merrill Lynch & Co. In a recent interview with The Wall Street Journal, Mrs. Clinton said such purchases are "a source of concern," partly because the foreign funds "lack transparency" and could be used by foreign governments as "instruments of foreign policy."

<snip>

http://online.wsj.com/article/SB120097424021905843.html?mod=googlenews_wsj

[gateley]

1. Has this been covered before -- or is this something new? I recall something

about Bill going to sever some business/investment relationship -- is this the one? Thanks.

[sandnsea]

2. And the connection to the Dubai Port Deal

Remember that? Remember the argument against the people who opposed it? Oh yeah, it was racist to oppose Middle Easterners having control of our ports. I wonder whose idea that was.

"People like Bill Clinton who, we learned last week, had advised the UAE on the ports deal. I can't help but wonder if that advice was in any way colored by the millions (the exact figures are still not in) Dubai has given to Clinton -- in speaking fees and donations to his presidential library. And then, as Lloyd Grove reports, there is Clinton's lucrative relationship with Ron Burkle's private investment firm, Yucaipa, which has partnered with Dubai in bidding on some major investment deals. Money clouds on both sides of the aisle."


http://www.huffingtonpost.com/arianna-huffington/having-dinner-with-the-r_b_16897.html

[peacetalksforall]

3. At first I was repulsed in reading this - mostly because of the Dubai

part of it. I am feeling a compounded resentment against Dubai because they allowed Halliburton to move there and I feel they are central to the movement of money that is not in our interests though that can be argued, I know. Some think that buying our ports is great, for example. Plus, I feel it may be Cheney's refuge if it becomes necessary - just a fleeting thought.

Then, my imagination moved on to Carlyle. So many people have made cracks that Pres Clinton is moving towards being affiliated with Carlyle. The thought crossed my mind that he doesn't need Carlyle and could start his own Carlyle type consortium/conglomeration.

Then the thought came to mind that it would be wonderful if he could start a Carlyle like giant that would fulfill their mission in helping the earth and its people - INSTEAD OF what we know about the first Carlyle - all for Carlyle and friends of Carlyle.

Sadly, the short description of his involvement makes it sound like it's just more of the same that we are coming to know - big money for big people and not beneficial for simple people.

It bothers me that our country is being sold out from under us and those who have the power are not stopping it, but seem to be involved in it.

People have to evolve, but the way the Clintons are going is a real disappointment.

They are existing in another realm. We'll see if she does something just for the campaign period with the accompanying false signals or if there are real ethics there. And let's hope someone can guide us through the meaning of all this.

The whole group left the Clinton administration on top of the world - and each day brings a disappointment for me - bubbles keep bursting. So far, I can only cling to a couple of people that I can still admire - Reno, Reich, AL GORE!!! for example.

[milkyway]

4. off-topic, but Robert Reich has a column at salon.com today about the sorry state of the economy.

One lowlight: Reich has been told by a top Wall Street guy he obviously respects that there is a 20% chance of a Depression.

http://www.salon.com/opinion/feature/2008/01/23/reich_economy/

[AtomicKitten]

5. It's good to be king and get a piece of the $$$ pie!

Bubba has no intention of giving up THOSE perks with what he perceives to be a third term on deck.