Hillary Borrows Bill’s Foreign Cash

Posted: May 07, 2008 11:34 AM
Hillary Borrows Bill’s Foreign Cash

Hillary Clinton has now dipped into the joint checking account she shares with her husband, largely made up of speaking fees earned in foreign countries, to finance her presidential campaign.

Clinton’s campaign says the New York senator has lent more than $11 million to her presidential campaign to date, far more than the $10 million she reportedly earned from previous books sales.

On a conference call with reporters Wednesday morning Clinton Communications Director Howard Wolfson said there was no distinction between Mrs. Clinton’s money and Mr. Clinton’s money in the account.

“I dispute the notion that there is a difference between her share of her joint assets and her own money," Wolfson said. "There is no distinction between her share of their joint assets and her money. Her money is their share of her joint assets."

Wolfson noted “legally she is entitled to use up to 50 percent of their joint assets if she chooses.”

Since leaving the White House former President Clinton has earned millions in speaking fees, mostly from foreign countries like the United Arab Emirates and the People’s Republic of China.

Campaign finance laws forbid foreign money from entering U.S. elections, but no laws forbid foreign monies being stored in a joint checking account by a candidate’s spouse and later being accessed by the candidate.