LYCOS RETRIEVER 
Jackson Stephens: Hillary Clinton
built 615 days ago
Jackson Stephens - the chair of the huge Stephens Inc. investment banking firm based in Little Rock - was a major underwriter of Clinton's presidential candidacy. As The Nation reported in its Sept. 27 issue, Stephens "extended a $ 3.5 million line of credit to his campaign through the Worthen Bank, which is partly owned by the Stephens family. The Clinton campaign deposited up to $ 55 million in federal election funds in this bank."
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WTI has links, too, with the Rose Law Firm, where Hillary Clinton worked on many Stephens projects involving municipal and state bond work. Stephens made an effort to secure bond financing for WTI through the Ohio Water Development Authority in 1987. Documents obtained by TAS, including a December 14 application for $139 million in state bond financing, listed Stephens as the proposed lead managing underwriter. While Charles A. Waterman of Brickler and Eckler served as counsel for Stephens on a number of WTI projects, the Rose Firm was retained during the 1980s to do bond work for Stephens as well. The Yamada report on Sussman's conflict-of-interest mentioned Hillary's work for the Stephenses, and noted that it was Hillary who recommended the compromised Sussman for his EPA job overseeing WTI.
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Although the deal never materialized, Stephens and Riady solidified their connection. James Riady, Mochtar’s son, moved to Little Rock. Via their presence in Little Rock, the Riadys developed a relationship with then Governor Bill Clinton and his wife, Hillary Clinton. The Riadys pursued a relationship with Bill Clinton because of his political status, and Hillary did legal work for them during her days at the Rose Law Firm.4
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Officials at investment giant Stephens Inc., including longtime Clinton friend, David Edwards, take steps to rescue Harken Energy, a struggling Texas oil company with George W. Bush on its board. Over the next three years, Mr. Edwards brings BCCI-linked investors and advisers into Harken deals. One of them, Abdullah Bakhsh, purchases $10 million in shares of Stephens-dominated Worthen Bank. (author’s emphasis).
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Raidy and Stephens bailed out Clinton on numerous occasions, providing financial support for his political campaigns in Arkansas and buying off the 'mistakes' he made as governor. The financial support expanded during his presidential campaigns. (Stephens' DC office was where, almost 10 years later, 'alleged' spy John Huang would make secret contacts with the Communist Lippo Group right after receiving classified briefings at the Commerce Department.)
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Five years ago, Stephens relinquished control of Stephens, Inc. to his son, Warren. Today, perhaps as compensation for his high-profile influence peddling, Stephens maintains a low public profile. Once a golf partner of Dan Quayle's, Stephens will never be seen jogging with Bill Clinton or hugging trees with Al Gore. But the political and financial ties that bind Clinton and Stephens, fellow Razorbacks, are the strongest by far that Stephens has made with any president.
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