Clintons admit wrongdoing over failure to pay tax

THE CLINTONS failed to report dollars 6,000 ( pounds 4,000) in income from Hillary Clinton's speculation in cattle futures, the White House admitted yesterday. It said they would certainly pay any back taxes owed.

The failure to admit some of her profits will fuel controversy over Mrs Clinton's brief but astonishingly successful venture into the commodity markets in 1978-79. Within a year of starting with an initial investment of dollars 1,000 in 1978 she owned 65 cattle contracts, representing dollars 1.8m worth of cattle.

Deedee Myers, the White House press secretary, said: 'In the course of reviewing documents, we've discovered a small amount of income that was previously undetected.' The extra money, which she said totalled about dollars 6,000, pushes Mrs Clinton's total profit from commodities in 1978-79 to over dollars 100,000. Mrs Clinton's trading was all legal although her broker had a tolerant attitude to the amount of cash she put up. At the weekend it was revealed that most of the orders for the cattle futures were placed not by Mrs Clinton herself but by James B Blair, a senior lawyer for Tyson Foods, the largest poultry company in the US.

Nobody quite believes the Clintons' explanation that their family finances were transformed by a lucky if deeply risky investment which Hillary carried out solely on the basis of information available in the Wall Street Journal. A more likely explanation is that Tyson, based in Arkansas where it is the largest employer, wanted to cultivate Mr Clinton during his first years in politics as attorney-general and then governor of Arkansas and guided his wife towards making dollars 100,000.

The failure to report the dollars 6,000 is the first time the Clintons have admitted wrongdoing during the Whitewater controversy. It will probably not do Mr Clinton much harm but it will dent Mrs Clinton's reputation, as one unsympathetic commentator put it, as the 'Florence Nightingale of the Ozarks'. It also gives the impression that, although Mr Clinton has promised total openness, he only admits what the press has already discovered.

The White House dismissed as ridiculous a story in the deeply conservative American Spectator based on allegations by a former guard of Mr Clinton who claims that he had propositioned 100 women on behalf of the former governor. State Trooper L D 'Doug' Brown, serving in the Clinton security detail from 1982-85, said he assisted in Mr Clinton's philandering although he cites only one example of successfully recruiting a woman.

It is not clear how much damage this allegation will do Mr Clinton. Mr Brown admits Mr Clinton later had him criminally investigated for mismanaging the finances of the State Troopers Association.

Start your day with The Independent, sign up for daily news emails
Have you tried new the Independent Digital Edition apps?
ebooks
ebooksAn introduction to the ground rules of British democracy
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs General

Recruitment Genius: Home Care / Support Workers

£7 - £10 per hour: Recruitment Genius: This care provider is looking for Home ...

Recruitment Genius: Web Team Leader

£30000 - £35000 per annum: Recruitment Genius: One of the UK's leading web des...

Recruitment Genius: Client Manager

£27000 - £35000 per annum: Recruitment Genius: A growing, successful, friendly...

Recruitment Genius: Property Negotiator - OTE £20,000+

£16000 - £25000 per annum: Recruitment Genius: This family owned, independent ...

Day In a Page

The Greek referendum exposes a gaping hole at the heart of the European Union – its distinct lack of any genuine popular legitimacy

Gaping hole at the heart of the European Union

Treatment of Greece has shown up a lack of genuine legitimacy
Number of young homeless in Britain 'more than three times the official figures'

'Everything changed when I went to the hostel'

Number of young homeless people in Britain is 'more than three times the official figures'
Compton Cricket Club

Compton Cricket Club

Portraits of LA cricketers from notorious suburb to be displayed in London
London now the global money-laundering centre for the drug trade, says crime expert

Wlecome to London, drug money-laundering centre for the world

'Mexico is its heart and London is its head'
The Buddhist temple minutes from Centre Court that helps a winner keep on winning

The Buddhist temple minutes from Centre Court

It helps a winner keep on winning
Is this the future of flying: battery-powered planes made of plastic, and without flight decks?

Is this the future of flying?

Battery-powered planes made of plastic, and without flight decks
Isis are barbarians – but the Caliphate is a dream at the heart of all Muslim traditions

Isis are barbarians

but the Caliphate is an ancient Muslim ideal
The Brink's-Mat curse strikes again: three tons of stolen gold that brought only grief

Curse of Brink's Mat strikes again

Death of John 'Goldfinger' Palmer the latest killing related to 1983 heist
Greece debt crisis: 'The ministers talk to us about miracles' – why Greeks are cynical ahead of the bailout referendum

'The ministers talk to us about miracles'

Why Greeks are cynical ahead of the bailout referendum
Call of the wild: How science is learning to decode the way animals communicate

Call of the wild

How science is learning to decode the way animals communicate
Greece debt crisis: What happened to democracy when it’s a case of 'Vote Yes or else'?

'The economic collapse has happened. What is at risk now is democracy...'

If it doesn’t work in Europe, how is it supposed to work in India or the Middle East, asks Robert Fisk
The science of swearing: What lies behind the use of four-letter words?

The science of swearing

What lies behind the use of four-letter words?
The Real Stories of Migrant Britain: Clive fled from Zimbabwe - now it won't have him back

The Real Stories of Migrant Britain

Clive fled from Zimbabwe - now it won’t have him back
Africa on the menu: Three foodie friends want to popularise dishes from the continent

Africa on the menu

Three foodie friends want to popularise dishes from the hot new continent
Donna Karan is stepping down after 30 years - so who will fill the DKNY creator's boots?

Who will fill Donna Karan's boots?

The designer is stepping down as Chief Designer of DKNY after 30 years. Alexander Fury looks back at the career of 'America's Chanel'