On Tax Returns, Stock Options, InfoUSA and Vetting

[DemsUnited]

So in fairness to Senator Clinton, I looked at her Senate Personal Financial disclosures to see if they really do give as much info as a real tax return.

You can find them at: http://opensecrets.org/pfds/candlook.php?CID=N00000019

Some Highlights:

2000 - The Clintons owed law firms between approximately 2.35 million to 11.2 million. They had publicly traded assets of approx. $680,000 - 1.4 million.

2001 - 2006 : Bill rakes in millions and millions each year from speaking honoraria. Bye bye legal fees, hello publicly traded assets! The bulk of those assets are in two accounts: Citibank and Senate Blind trust. Assets in those two accounts have grown from 2-10 million in 2001 to 10-50 million in 2006.

As you can see, unlike a tax return, the Senate disclosure forms are extremely vague on the exact amount of assets and liabilities. And they offer no insight into what the assets are.

In addition, non publicly traded assets such as real estate and cash accounts do not appear to be disclosed on these statements at all.

The only insight into what is included in these two large accounts is on the 2006 form (filed on 5/5/2007). There is line item about 100,000 InfoUSA stock options that were allowed to expire, unexercised, on 4/24/07.

I found this puzzling. Why disclose a 4/24/07 transaction on a 2006 statement? Wouldn't this be more properly disclosed on the 2007 statement?

And more importantly, why allow the options to expire? That's a lot of money to leave on the table. What is this InfoUSA and why are the Clintons so quick to distance themselves from them?

To the Google!

First headline to come up is http://www.washingtonpost.com/wp-dyn/content/article/2007/11/21/AR2007112102280.html

Washington Post: 'SEC Opens Investigation of Company Headed by Key Supporter of Clintons'

That would be Vinod Gupta, head of InfoUSA.

Ouch.

So the one specific asset disclosed on these so-called Senate disclosure statements is a potential scandal for the Clintons. For a good review about how much money they've received from Gupta, see http://www.mydd.com/story/2007/5/29/175615/870

So what else is lurking in the actual tax returns?

And do we really think that GOP opposition researchers don't already know some of those answers???

Yes, the Clintons were vetted like hell when they were in the White House. But we can't give them a free pass on the last 8 years because Ken Starr persecuted them. The GOP sure as hell isn't giving out any passes.

[EmperorHasNoClothes]

1. I'm guessing those options were granted in 2006

If that is the case, than it would be correct to report them in 2006 (when the value of the options were transferred) and not in 2007.

[DemsUnited]

2. The best date I can find is granted in 2005?

So probably the 2006 report is correct. Still, it did raise some real questions about Gupta and InfoUSA.

There are lots of articles on MSM and blogs floating around, but this one from MyDD really lays out the money aspect:

http://www.mydd.com/story/2007/5/29/175615/870

[IndianaGreen]

3. Fully vetted my ass!

No wonder Hillary hasn't released a single tax return since the Clintons left the White House.

[Barack_America]

4. The InfoUSA thing stinks much more than that.

Vin Gupta, also a large Clinton Library donor, and former Lincoln-bedroom inhabitant, has been investigated for misappropriating corporate funds. In part, to shuttle the Clintons around in the company's private jet.

What's more, Hillary Clinton rented his company her donors' personal information for a paltry $8,000 (about 10% of the going rate).

That's a pretty cozy relationship they've got going there and, yet, all we hear around here is that Rezko bullshit.

http://www.newsweek.com/id/85970
http://www.washingtonpost.com/wp-dyn/content/article/2007/11/21/AR2007112102280.html?hpid=topnews
http://www.npr.org/templates/story/story.php?storyId=18958566

[DemsUnited]

5. thanks for the links.

wow, this issue looks as if it was pretty widely reported on in 2007, so how did I miss it?

and you're right, Rezko is nothing compared to Mr. Gupta.