Madison Guaranty was a Little Rock, Arkansas financial trust company.
Starting in 1982 and operated by Jim McDougal-Susan McDougal Madison Guaranty Savings and Loan failed in the late 1980s. On April 14, 1997, Jim McDougal was convicted of 18 felony counts of fraud conspiracy charges. The counts had to do with bad loans made by Madison S&L. This S&L was partnered with Whitewater Development Corporation, the subject of Whitewater probe and owned, in part, by Bill and Hillary Clinton.
Madison Guaranty and McDougal hired Rose Law Firm where the Mrs. Clinton worked as a defense attorney. Mrs. Clinton's Rose Law Firm billing records on Madison Guaranty and McDougal's Castle Grande project that Hillary called IDC - Industrial Development Corporation. How much work she actually did on Madison and Castle Grande was the subject of the missing billing records. McDougal also held a fundraiser at Madison Guaranty that paid off Clinton's campaign debt of $50,000. Madison cashier's checks accounted for $12,000 of the funds raised.
Read more about Madison Guaranty: Madison Employees in The Starr Report, References and External Links
Famous quotes containing the word madison:
“As yet her conduct has been great both as a free and as a martial nation. We hope it will continue so, and finally baffle all her enemies, who are in fact the enemies of human nature.”
—James Madison (1751–1836)