We all remember the greatest stock trade in history when Hillary Clinton raked in a cool 100 grand from a $10,000 investment when she and her husband were in Arkansas. Well the Washington Times’s Jim McElhatton reports this morning that Bill Clinton made have made an equally fortunate deal;
The spring before his wife began her White House campaign, former President Bill Clinton earned $700,000 for his foundation by selling stock that he had been given from an Internet search company that was co-founded by a convicted felon and backed by the Chinese government, public records show.
Mr. Clinton had gotten the nonpublicly traded stock from Accoona Corp. back in 2004 as a gift for giving a speech at a company event. He landed the windfall by selling the 200,000 shares to an undisclosed buyer in May 2006, commanding $3.50 a share at a time when the company was reporting millions of dollars of losses, according to interviews.
A spokesman for the William J. Clinton Foundation declined to identify the buyer who was willing to pay so much for a struggling company’s stock, saying only that the transaction was handled by a securities broker.
Funny how the Chinese always seem to be behind everything that casts a bit of shade over the Clintons, isn’t it?
