Clinton stories the media forgot to tell you about

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1976 - Two Indonesian billionaires come to Arkansas. Mochtar Riady and Liem Sioe Liong are close to Suharto. Riady is looking for an American bank to buy. Finds Jackson Stephens with whom he forms Stephens Finance. Stephens will broker the arrival of BCCI to this country and steer BCCI's founder, Hassan Abedi, to Bert Lance. Riady's teen-age son is taken on as an intern by Stephens Inc. He later says he was "sponsored" by Bill Clinton.

1977 - Apparently because of pressure from Indonesia, Riady withdraws his bid to buy Burt Lance's 30% share of the National Bank of Georgia. Instead, a BCCI front man buys the shares and Abedi moves to secretly take over Financial General - later First American Bankshares -- later the subject of the only BCCI-connected scandal to be prosecuted in the US.

1980 - Former Arkansas official Larry Nichols will tell the George Putman Show in 1998 that he had met with Clinton and Jackson Stephen's brother Witt and that Witt had told Clinton that the Stephens were ready to back him for another run at the governorship but that he had to "dry out on the white stuff."

1982 - Financial General changes its name to First American and Clark Clifford is appointed chairman. BCCI fronts begin acquiring controlling interest in banks and other American financial institutions. In Arkansas, Jim McDougal purchases Madison Guaranty Savings & Loan

1983 - Mochtar Riady forms Lippo Finance & Investment in Little Rock. A non-citizen, Riady hires Carter's former SBA director, Vernon Weaver, to chair the firm. The launch is accomplished with the aid of a $2 million loan guaranteed by the SBA. Weaver uses Governor Clinton as a character reference to help get the loan guarantee. First loan goes to Little Rock Chinese restaurant owner Charlie Trie. In 1999, reported the Washington Post, Trie, who had become a controversial fund-raiser for President Clinton, "entered into a plea agreement with the Justice Department yesterday, winning leniency in exchange for telling all in an investigation of improper campaign contributions originating in China."
State regulators warn Jim McDougal's Madison Guarantee S&L to stop making imprudent loans. Gov. Clinton is also warned of the problem but takes no action.

1984 - Clinton backers Jack Stevens and Mochtar Riady buy a banking firm and change its name to Worthern Bank with Riady's 28-year-old son James as president. Other Worthen co-owners will eventually include BCCI investor Abdullah Taha Bakhish.

1985 - The New Jersey securities firm Bevill, Bresler & Schulman files for bankruptcy amid fraud charges and an estimated $240 million in losses; one of the biggest apparent losers is Stephens-dominated Worthen Bank, which holds with Bevill $52 million of Arkansas state funds in uncollateralized repurchase agreements.

Arkansas state pension funds -- deposited in Worthen by Governor Bill Clinton -- suddenly lose 15% of their value because of the failure of high risk, short-term investments and the brokerage firm that bought them. The $52 million loss is covered by a Worthen check written by Jack Stephens in the middle of the night, an insurance policy and the subsequent purchase over the next few months of 40% of the bank by Mochtar Riady. Clinton and Worthen escape a major scandal.
Arkansas state pension funds -- deposited in Worthen by Governor Bill Clinton -- suddenly lose 15% of their value because of the failure of high risk, short-term investments and the brokerage firm that bought them. The $52 million loss is covered by a Worthen check written by Jack Stephens in the middle of the night, an insurance policy and the subsequent purchase over the next few months of 40% of the bank by Mochtar Riady. Clinton and Worthen escape a major scandal.
Mochtar and James Riady engineer the takeover of the First National Bank of Mena in a town of 5,000 with few major assets beyond a Contra supply base, drug running and money-lauNdering operations.

1987 - Harken Energy, with George W Bush on the board, gets rescued by aid from the BCCI-connected Union Bank of Switzerland in a deal brokered by Jackson Stephens, later to show up as a key supporter of Bill Clinton. The deal was also pushed along by another Clinton friend, David Edwards. Edwards will bring BCCI-linked investors into Harken deals including Abdullah Bakhsh, purchases $10 million in shares of Stephens dominated Worthen Bank.

1989 - Manhattan District Attorney Robert Morgenthau begins a wide-ranging probe of BCCI.

1990 -Warren Stephens raises $50,000 overnight so Clinton can buy TV time in his struggling re-election bid.

James Riady takes over operations of a new branch of the Lippo Bank, working with Hong Kong Lippo executive, John Huang. China Resources Company Ltd begins buying stock in the branch, Hong Kong Chinese Bank, at 15% below market value. Intelligence sources later report that the firm is really a front for Chinese military intelligence.

1991 - The Federal Reserve begins an investigation of BCCI's alleged control of First American Bank. A few months later BCCI itself is shut down in what would be revealed as the world's biggest bank scandal ever.

1992 - The Worthen Bank gives Clinton a $3.5 million line of credit allowing the cash-strapped candidate to finish the primaries. Stephens Inc. employees give Clinton more than $100,000 for his presidential campaign.

A grand jury indicts BCCI principals, including Clark Clifford and Robert Altman

Resolution Trust Corporation field officers forward a criminal referral on Madison Guaranty to Charles Banks, U.S. Attorney for the Eastern District of Arkansas. The referral alleges a check-kiting scheme by Madison owners Jim and Susan McDougal and names the Clintons and Jim Guy Tucker as possible beneficiaries. Banks forwards the referral to Washington.

James Riady, his family, and employees give $700,000 to Clinton and the Democratic campaign.

1993 - John Huang and James Riady give $100,000 to Clinton's inaugural fund . . . In February: Huang arranges private meeting between Mochtar Riady and Clinton at which Riady presses for renewal of China's 'most favored nation" status and a relaxation of economic sanctions . . . June: China's 'most favored nation' status is renewed. Price being paid by China Resources Company Ltd. for Lippo's Hong Kong Chinese Bank jumps to 50% above market value. The Riadys make $163 million.