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Star Easy Money, Money, Money Star

Tuesday February 10, 1998


By I.D. Murray, Daily Republican Contributor

WASHINGTON DESK - There is an endless pursuit of money still being carried on inside the White House and everywhere else the president and first lady have ever been.

But, there is not enough money in the world to pay the bills this first couple have incurred since moving into the White House in 1992. In fact they now owe about 10 times their net worth.

Technically, the president and the first lady are bankrupt. Their personal attorneys have not been paid the $4,000,000 owed them. Worse yet, costs of legal services are mounting very fast this week and will surely run-up about $2,000,000 by the end of the month.

Their personal legal counsel cannot forgive $6,000,000 in unpaid legal fees. That could be construed as an illegal gift. Even if such a 'gift' were not violative federal law, it would count as ordinary income to the Clintons and subject them to $millions in tax liens they cannot pay.

The Clinton's legal defense fund was managed so badly last year that it became insolvent and stopped doing business just after Christmas in 1997.

President Clinton is now rushing to set-up a new fund which will circumvent the present law on the amount which can be donated to such a fund.

Who will donate that kind of money? The best and most reliable sources of money for Clinton's new fund will be plaintiffs' trial lawyers, labor unions, and, possibly, the Association of Trial Lawyers of America (ATLA).

However, the ATLA has been an opponent of contributions to the Clinton's new legal defense fund.

In view of ATLA involvement in a possible forthcoming tobacco company immunity settlement, however, a flood of big money donations for the president and the first lady's new legal defense might be on the horizon.

Copyright 1998 The Daily Republican Newspaper.


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