![]() ![]() Blair, now the general counsel of Tyson Foods Inc., the nation’s largest poultry producer. Hillary Clinton began trading in commodities in October, 1978, at the urging of the Clintons’ close friend, Arkansas lawyer James B. The two couples borrowed $203,000 to buy the property and the Clintons claimed an interest deduction of $10,131 for payments made on the loans in 1978. That year also marked the establishment of Whitewater Development, a 50-50 partnership with McDougal and his then-wife, Susan, to buy 230 acres of land along the White River in northern Arkansas. In 1978, their combined salaries grew to about $51,000, but they also reported income from two investments-a land deal with McDougal known as Rolling Hill Manor, for which they claimed a capital gain of $2,150, and profits of $26,541 from commodity trading. That year, the Clintons reported virtually no additional outside or investment income. At the time, associates at law firms in New York or Los Angeles made at least twice as much. The low salary also is an indication of the low wages paid lawyers in small towns. She started at the firm in March that year and was paid for only 10 months. In 1977, Clinton’s first year as Arkansas attorney general, he was paid $25,378.77 while his wife, who then used her maiden name, Hillary Rodham, was paid $14,800 as a first-year associate at the Little Rock law firm Rose, Nash, Williamson, Carroll, Clay & Giroir-now known simply as the Rose Law Firm. Salary increases account for little of the growth. The Clintons’ tax returns for the years 1977-79 show a remarkable growth in income for the couple, from $41,731 in 1977 to $85,214 in 1978 and $158,495 in 1979. The White House issued a brief statement saying that staff secretary John Podesta had been summoned to testify about his knowledge of contacts between the White House and the Treasury Department in relation to the investigation of Madison Guaranty. The news came as the grand jury investigating the Whitewater matter issued a subpoena to another senior White House aide.
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