Bill and Hilary owned stock in Fox News?

Question

Spin this one liberals.cnn.com

Bill and Hillary Clinton liquidated the contents of their blind trust upon learning it contained investments of $5 million to $25 million that could pose conflicts of interest or prove to be embarrassing to her presidential campaign.

The blind trust and a bank account valued in the same range place the Clintons' total wealth at between $10 million and $50 million.

The Clintons looked at the contents of the blind trust in April under instructions from the Office of Government Ethics and sold the assets in May, according to a disclosure form filed Friday. The Clintons had the blind trust since former President Clinton was governor of Arkansas in 1983 and had no control over its transactions.

Once they peered inside it, they discovered it included investments in oil and drug companies, military contractors and Wal-Mart, campaign spokesman Phil Singer said.

The report, filed Friday with the Federal Election Commission and the Office of Government Ethics, provides the most detailed look at the Clintons' holdings as their wealth has expanded since the former president left the White House in 2001.

The new report also shows that the former president made $16 million in speaking fees between January 2006 and Wednesday. So far this year, Bill Clinton has given 34 paid speeches for a total of $5.9 million. (Full story)

Trust included oil, drug companies
The blind trust held stock in pharmaceutical companies, including $250,000-$500,000 in Biogen Idec and Johnson & Johnson and $100,000-$250,000 in Amgen, Pfizer and GlaxoSmithKline. It also invested in General Electric and Raytheon, two leading defense contractors. The trust had a varied portfolio, with investments in numerous other companies, including Exxon Mobil, BP Amoco, Walt Disney and eBay.

The report said all the proceeds of the sales are being placed in a cash account. The massive unloading of stock means the Clintons face large capital gains taxes.

Though all the blind trust transactions were handled over the years by a trustee without the Clintons' knowledge, some of the holdings could have been awkward for Hillary Clinton as she pursues the Democratic presidential nomination.

The blind trust held stock worth $100,000-$250,000 in NewsCorp, the parent company of Fox News, which many Democrats have denounced as biased against them. The trust also held stock in Wal-Mart and Wal-Mart de Mexico.

The senator served on the Wal-Mart board from 1986 to 1992, and was close with the Walton family that created the nation's largest retailer. But she has recently called on the company to provide better worker benefits and last year her Senate campaign returned $5,000 to Wal-Mart's political action committee. At the time, Clinton campaign spokeswoman Ann Lewis said the money was returned "because of serious differences with current company practices."

Friday's report comes on the heels of Hillary Clinton's Senate disclosure report, made public Thursday, which only covered activity in 2006 and did not reflect this year's liquidation of the blind trust.

Clinton and other presidential candidates were required to file financial disclosure documents with the Office of Government Ethics by May 15. But Clinton and Republican candidates Mitt Romney and John McCain asked for 45-day extensions because they all had blind trusts that the ethics office demanded be opened.

Campaign: Reporting goes 'above and beyond' requirements
"As a presidential candidate, Sen. Clinton was required to make her assets public," campaign spokesman Howard Wolfson said. "As a result, she had to dissolve her blind trust. Upon its dissolution, she and the president chose to go above and beyond what was required of them and liquidate their assets in order to avoid even the hint of a conflict of interest."

When it comes to family affluence, the reports show that the New York senator is the wealthiest of all members of Congress seeking the presidency. Among all presidential candidates, however, Republican Mitt Romney, the former Massachusetts governor, stands alone with assets of between $190 million and $250 million. Republican Rudy Giuliani and Democrat John Edwards have each reported assets of about $30 million.

Last year and this year, Bill Clinton earned fees from $100,000 to $450,000 speaking to such corporations as IBM, General Motors, and Cisco Systems, finance giants such as Goldman Sachs and Lehman Brothers, and trade groups such as the National Association of Realtors and the Mortgage Bankers Association. He also has been paid to speak to nonprofit or charity groups, including the TJ Martell Foundation, which finances leukemia research, Nelson Mandela's Children's Fund and, last March, to the Boys and Girls Club of Los Angeles.

Thanks to all that answered the question. Here's another point, yes it was a blind trust, and I own mutual funds also but I know exactley what kinds of companies I am invested with, with the kind of money the Clintos have and had invested in these funds, it would be foolish to think they didn't know how, who and where there money was invested. Just food for thought

Answer 1

you expected differently?

For the Clintons, it's all about the money.

Hypocrisy is the least of their worries.
I don't blame them though. Fox News is the only REAL news network in America.
Fair and Balanced.

Answer 2

Blind trust = they didn't know where the money was being invested. The rest of your rant only proves that those who call the Clintons far left have no idea what they are talking about.

Answer 3

It is hypocritical of Fox pundits (and the hardcore audience) to criticize Al Gore for selling his ownership of Current TV to Al Jazeera. But when did Fox care about being a hypocrite?

Answer 4

What's your point here ? I invest in mutual funds, and, to be honest, I am not certain whether or not those funds hold securities in firms with which I disagree.

People invest for their futures, to make a profit. It's not as though each and every one of us has the time to insure that our mutuals NEVER invest in a corporation we do not like.

Get a grip.

Answer 5

er... it says blind trust in like the first line...

no real need to spin... the truth is right there in your citation...

my 401k could be at some point invested in "conservative compaines"... I don't know... I don't really think it makes me a hypocrite though...

odds are, many conservative's 401k's are probably invested in some liberal companies too... OH NO!

this is a bit of a joke...

Answer 6

You just said it - BLIND TRUST. They didn't know what was in it and they dumped it when they found out. You clearly don't know what a blind trust is, so I suggest that in the future you research things that you want to rant about.

Answer 7

So, it is good that things are getting cleared up and cleaned up. For someone so obviously bad according to the cons. Bill sure seems to be popular on the speaking tour.

Answer 8

Thank you for the good research and information you provided,
Now what I am supposed to do with this? I was not intended to vote for Hilary anyways...

Answer 9

Hmm! Who'd have thought.

Answer 10

yeah. they are rich biotch.