WHAT IS WHITEWATER REALLY ALL ABOUT?
By Sherman H. Skolnick
Almost all in the press ignored the story that the Federal
Reserve was investigating Hillary and Foster in respect to money
laundering [of] illicit funds through foreign bank arrangements.
Were the deals with BNL Chicago and BNL Atlanta arranged by and
through CIA? With the aid of former CIA Director George Bush and
CIA darling Hillary? A host of circumstantial details, enough to
fill several books, tend to prove that.
Then there is the case of Bill and Hillary Clinton and the
mysterious fifty million dollars. Some background gives the
Pending since 1984 have been a slew of state and federal cases in
the Chicago area that together have come to be called the
Andreuccetti Affair. Named for Joseph Andreuccetti, a west
suburban caulking contractor pushed, he says, into *involuntary*
bankruptcy by massive fraud of several banks and savings and
loans. One such S&L [was] taken over by Household International,
parent of Household Bank, together successors to the CIA-linked
Nugan-Hand Bank of Australia. (See: Jonathan Kwitny's book, *The
Crimes of Patriots*.)
Because of large, pending claims by Andreuccetti against the
defunct S&L, the federal bail-out machine, Resolution Trust
Corporation [RTC], set up a 58 million dollar fund parked with
Household. One of Joe's [Andreuccetti's] attorneys more or less
supervised the fund, John E. Gierum. In January, 1994, Gierum, of
suburban Park Ridge, confessed to this writer, in the presence of
Andreuccetti, about Gierum's troubles. Gierum has been a close
crony of Hillary's family (originally from Park Ridge), the
Rodhams. The White House, Gierum confessed, is trying to frame
Gierum for the secret transfer of 50 million dollars of that
contingency fund. The fund was transferred to Little Rock, to
make good some 47 million dollars gone from Madison Guaranty
Savings and Loan; some federal sources blame the President and
First Lady for the missing 47 million dollars, talking darkly of
mis-appropriation or bank embezzlement.
Gierum knew this writer from a probe of the Andreuccetti Affair
by a court reform group headed by this writer. Gierum said he did
not think he could prevent from getting "framed" for the
mysterious 50 million dollar transfer.
"You're a skilled lawyer, you should be able to defend yourself,"
Gierum was told. The attorney explained mournfully that the
powers that be, that is, the Clinton White House, have the matter
set up, and the usual defense of the law and the facts cannot
Reliable federal sources told us some 32 bookkeepers were unable
to locate or figure out how the 50 million dollars disappeared
from Household and RTC Chicago. By the way, is it just
coincidence? Former CIA pilot Terry Reed, in his book,
*Compromised*, telling how he flew CIA dope into the airport at
Mena, Arkansas, also mentions a mysterious 50 million dollars.
Other senior federal sources contend part of the 50 million
dollars was funneled to the Grand Cayman Islands, with the
reported help of Fuji Bank, and then, on to Switzerland. A Swiss
bank reportedly has part of the money, mixed in with other
illicit funds gathered for Clinton, part of it reportedly dope
loot, under the code name "Chelsea Jefferson" -- "Chelsea" being
the name of Clinton's daughter, and "Jefferson" being Bill's
In the Andreuccetti cases, the details of Hillary's crony
Gierum's confession are a matter of court record. Gierum was
served a copy and he did not dispute the same.
RTC investigators have known about the 50 million dollar fund
secretly disappearing and secretly transferred to Little Rock, to
cover up the reported Clinton embezzlement. One RTC senior
investigation specialist was looking too deep into the matter:
Jon Parnell Walker. He was "suicided", that is, murdered, by
being thrown off a building in Arlington, Virginia. His friends,
family, and co-workers all agree on one fact: Walker was not
depressed; maybe just impulsive. In any case, Walker's demise was
to show other RTC people it is unhealthy to look into such things
as the 50 million dollar mystery.
Another mess involving Hillary and Foster involves the Chicago
operation of RTC. For several years, RTC's major outside
attorneys were the Chicago-based firm of Hopkins & Sutter. So
important was the law firm, RTC's offices were actually *inside*
Hopkin's Chicago office. Hopkins & Sutter, for RTC, arranged for
two members of a distant law firm, namely Hillary Rodham Clinton
and Vincent Foster, jr., of the Rose Law Firm of Little Rock, to
work the clean-up details of a defunct savings and loan of a west
suburb of Chicago. The S&L, owned by former Illinois Governor Dan
Walker, sr., went under in part because of corrupt bond deals
done with the Clinton business crony, Dan Lasater. Part of the
fall-out resulted in Dan Walker, sr., going to prison.
Hillary and Foster did a cover up job. And, is it just another
coincidence that Hopkins & Sutter partner, Jay Steinberg, is also
the bankruptcy trustee in the Andreuccetti Affair; Steinberg
himself reportedly involved in the mysterious 50 million dollar
transfer to Little Rock?
Hillary and her law partner Foster were also reportedly
implicated in arranging the transfer of illicit funds resulting
from the cocaine shipments by CIA pilots into Mena. Here is how
it reportedly worked:
1. The dope loot was washed through the Arkansas Development
Finance Authority [ADFA], a state creature originated by Bill
Clinton as Governor.
2. From there, the dope funds were transferred, in part, to
Arkansas banks and bond brokers who transferred the loot to
Garfield Ridge Trust & Savings Bank of Chicago. That is a small,
closely-held bank; the owners include:
*** Dan Rostenkowski, owner for more than 20 years of the bank;
for more than 30 years a Congressman; now a scandalized
*** Dan Shannon, once board chairman of that bank; he and his
family closely linked to the illicit financial operations
of Mayor Richard J. Daley, who ran Chicago City Hall for
21 years, and his son Richie, Chicago mayor since 1989;
*** And, the most important owner, reportedly, as to this
context, Hugh Rodham, Hillary's brother who went to law
school with Gierum and is the White House connection.
Federal investigators contend they have been investigating the
Garfield Ridge Bank for the last 2-and-a-half years, as to the
dope money trail from Arkansas.
From that bank, the dope loot was reportedly transferred, in
part, to the Chicago Mercantile Exchange which also helped cover
up Hillary's mysterious 100 thousand dollar windfall on commodity
speculations. Several traders on the "Merc", although contending
they are not personally involved, admitted to this writer that
they expect a horrendous scandal because of the washing on the
"Merc" of Mena dope money.
From the "Merc", the dope loot, in turn, was reportedly washed
through offshore accounts, reportedly, again, by Fuji Bank, for
the benefit of the Clintons.
Some of the Arkansas dope loot was disguised as fraudulent or
non-existent "loans" of the U.S. Small Business Administration
[SBA]. Although the Chicago regional office of SBA does not
include Arkansas, the funds were washed through Chicago. Is it
just another coincidence that White House crony John E. Gierum
has also been senior litigation attorney for the Small Business
As more and more details pile up, you can see why Gierum's
undisputed confession takes on such significance.
What were some of the purposes of the dope money? Some 18
sizeable businesses have reportedly been financed this way,
including, reportedly, Tyson Foods, J.B. Hunt Trucking, and Wal-
Mart. We understand that Wal-Mart officials vigorously deny dope
funds played any part in the spreading out of their Arkansas-
based firm, nationwide. Perhaps someone never told them.
State and federal law enforcement authorities contend that Tyson
Foods and Don Tyson, the boss until recently, have long been
implicated in dope trafficking. Is Don Tyson, who stepped down as
head of the firm, evading a federal grand jury subpoena by way of
his extended vacation to the Cayman Islands? Some think so.
Then there is the circumstance of San Jacinto Savings & Loan,
once located in a Texas town with the same name. Federal
investigators contend somewhere between 15 and 150 million
dollars disappeared, by way of non-existent home loans to
Arkansas, and that Hillary is involved. A senior federal bank
investigator, returning from his work in Texas, said cryptically,
"Hillary is going to prison."
1. Did Bill and Hillary Clinton benefit from all the apparent
embezzlement of savings & loan and other funds?
2. Did they only partly benefit personally?
3. Were they, either together, or each in a different project,
fronting for CIA covert fund activities, such as at Mena?
4. Is the really big secret about all this -- Mena, Little Rock,
Chicago, Atlanta -- that the illicit activities of the Clintons
overlapped the covert and illicit doings of George Bush and Ollie
North? And that this is what is causing both Democrats and
Republicans to be hung up, not wanting to really finger the
Clinton White House?