Whitewater controversy

Whitewater (also known as the Whitewater controversy or the Whitewater scandal) is an American legal and political episode of the 1990s that began with an investigation into the real estate investments of Bill Clinton and Hillary Rodham Clinton and their associates, Jim McDougal and Susan McDougal, in the Whitewater Development Corporation, a failed business venture in the 1970s and 1980s.

A March 1992 New York Times article published during the U.S. presidential campaign reported that the Clintons, then governor and first lady of Arkansas, had invested and lost money in the Whitewater Development Corporation. The article stimulated the interest of L. Jean Lewis, a Resolution Trust Corporation investigator who was looking into the failure of Madison Guaranty Savings and Loan, owned by Jim and Susan McDougal. Lewis looked for connections between the savings and loan company and the Clintons, and on September 2, 1992, she submitted a criminal referral to the FBI naming Bill and Hillary Clinton as witnesses in the Madison Guaranty case. Little Rock U.S. Attorney Charles A. Banks and the FBI determined that the referral lacked merit, but Lewis continued to pursue the case. From 1992 to 1994, Lewis issued several additional referrals against the Clintons, and repeatedly called the U.S. Attorney's Office in Little Rock and the Justice Department regarding the case. Her referrals eventually became public knowledge, and she testified before the Senate Whitewater Committee in 1995.

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