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First family has multimillion dollar legal debt

May 17, 1999
Web posted at: 5:36 p.m. EDT (2136 GMT)

WASHINGTON (AllPolitics, May 17) -- Despite the $2.6 million dollars President Bill Clinton and first lady Hillary Rodham Clinton received from their legal defense fund in 1998, they ended the year owing two law firms between $1 million and $5 million.

That information is revealed in the Clinton's 1998 Public Financial Disclosure Report. Also listed are the Clinton's assets ranging from two savings accounts valued between $15,000 and $50,000 to a blind trust valued somewhere in the $1 to $5 million dollar range.

But Clintons owe the millions to Williams & Connolly, the law firm of David Kendall, Clinton's Whitewater and impeachment counsel, and Skadden, Arps, Slater, Meagher & Flom, where Bob Bennett, who represented the president in the Paula Jones case, practices.

The financial disclosure laws do not require the president and Mrs. Clinton to be more specific than "between $1 million and $5 million."

The forms also reveal some gifts the first family received in 1998. They include golf clubs from Jack Nicholson, an "Animaniacs" cartoon film cell from Steven Spielberg, an oil painting from singer Carly Simon and a baseball bat and Chicago Cubs Jersey signed by Sammy Sosa, given by Sosa and his wife.

Vice President Al Gore and Tipper Gore also released their disclosure statement Monday. The Gores listed income ranging from the vice president's $175,000 salary to rental income on houses they own in the Virginia suburbs and Tennessee.


Investigating the President

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Monday, May 17, 1999

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