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
ebooksA special investigation by Andy McSmith
News
Jerry Seinfeld Comedians in Cars Getting Coffee
peopleSitcom star urges men to be more supportive of women than ever
Life and Style
Living for the moment: Julianne Moore playing Alzheimer’s sufferer Alice
health
News
Jay Z
businessJay-Z's bid for Spotify rival could be blocked
Sport
footballLouis van Gaal is watching a different Manchester United and Wenger can still spring a surprise
News
The spider makes its break for freedom
VIDEO
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: Event Management and Marketing Admin Support

£16000 - £18000 per annum: Recruitment Genius: This is an opportunity to join ...

Recruitment Genius: Evening Administrator

£8 per hour: Recruitment Genius: This Pension Specialist was established early...

Recruitment Genius: Lettings Negotiator

£20000 - £40000 per annum: Recruitment Genius: A Central London based firm loo...

Recruitment Genius: Events / Conference Operations Manager

£25000 - £32000 per annum: Recruitment Genius: This is an opportunity to join ...

Day In a Page

War with Isis: Iraq's government fights to win back Tikrit from militants - but then what?

Baghdad fights to win back Tikrit from Isis – but then what?

Patrick Cockburn reports from Kirkuk on a conflict which sectarianism has made intractable
Living with Alzheimer's: What is it really like to be diagnosed with early-onset dementia?

What is it like to live with Alzheimer's?

Depicting early-onset Alzheimer's, the film 'Still Alice' had a profound effect on Joy Watson, who lives with the illness. She tells Kate Hilpern how she's coped with the diagnosis
The Internet of Things: Meet the British salesman who gave real-world items a virtual life

Setting in motion the Internet of Things

British salesman Kevin Ashton gave real-world items a virtual life
Election 2015: Latest polling reveals Tories and Labour on course to win the same number of seats - with the SNP holding the balance of power

Election 2015: A dead heat between Mr Bean and Dick Dastardly!

Lord Ashcroft reveals latest polling – and which character voters associate with each leader
Audiences queue up for 'true stories told live' as cult competition The Moth goes global

Cult competition The Moth goes global

The non-profit 'slam storytelling' competition was founded in 1997 by the novelist George Dawes Green and has seen Malcolm Gladwell, Salman Rushdie and Molly Ringwald all take their turn at the mic
Pakistani women come out fighting: A hard-hitting play focuses on female Muslim boxers

Pakistani women come out fighting

Hard-hitting new play 'No Guts, No Heart, No Glory' focuses on female Muslim boxers
Leonora Carrington transcended her stolid background to become an avant garde star

Surreal deal: Leonora Carrington

The artist transcended her stolid background to become an avant garde star
LGBT History Month: Pupils discuss topics from Sappho to same-sex marriage

Education: LGBT History Month

Pupils have been discussing topics from Sappho to same-sex marriage
11 best gel eyeliners

Go bold this season: 11 best gel eyeliners

Use an ink pot eyeliner to go bold on the eyes with this season's feline flicked winged liner
Cricket World Cup 2015: Tournament runs riot to make the event more hit than miss...

Cricket World Cup runs riot to make the event more hit than miss...

The tournament has reached its halfway mark and scores of 300 and amazing catches abound. One thing never changes, though – everyone loves beating England
Katarina Johnson-Thompson: Heptathlete ready to jump at first major title

Katarina Johnson-Thompson: Ready to jump at first major title

After her 2014 was ruined by injury, 21-year-old Briton is leading pentathlete going into this week’s European Indoors. Now she intends to turn form into gold
Syrian conflict is the world's first 'climate change war', say scientists, but it won't be the last one

Climate change key in Syrian conflict

And it will trigger more war in future
How I outwitted the Gestapo

How I outwitted the Gestapo

My life as a Jew in wartime Berlin
The nation's favourite animal revealed

The nation's favourite animal revealed

Women like cuddly creatures whilst men like creepy-crawlies
Is this the way to get young people to vote?

Getting young people to vote

From #VOTESELFISH to Bite the Ballot