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Tuesday, November 25, 2008
Is CNS Blaming Bill Clinton for Bank Problems?

A Nov. 25 article by Matthew Hadro claims that "Four major banks, including one that collapsed, two that received federal bailout money and one that filed for bankruptcy this past September, paid former President Clinton $2.1 million for 13 speeches he delivered on their behalf between 2004-2007." This follows a Nov. 21 article by Matt Cover headlined, "Bailed-Out Citigroup Paid Bill Clinton $700,000 -- For Words, Just Words."

Is CNS blaming Clinton for the banks' financial problems because they paid him to speak? It appears so. 

Another Nov. 25 article by Cover noted that "Robert Rubin, a key economic advisor to President-elect Barack Obama who served as Treasury secretary in the Clinton Administration, has been one of the highest paid executives at the now twice bailed-out financial giant Citigroup."

But no original CNS article notes that Treasury Secretary Henry Paulson, who is administering the financial bailout of entities like Citigroup, is a former CEO of Goldman Sachs, which has received billions in bailout money -- and made $38 million in his final year as CEO before joining the Bush administration.

Posted by Terry K. at 6:49 PM EST

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