Madison Guaranty Savings
Madison Guaranty Savings (MGS or MGSL) was a savings and loan institution in Arkansas owned on by James McDougal. McDougal and his wife Susan were partners with Bill Clinton and Hillary Rodham Clinton in the Whitewater Development Corporation with loans from Madison Guaranty. Madison Guaranty Savings had been taken over by the Resolution Trust Corporation (RTC) in the early 1990s due to fraud and mismanagement. Madison Guaranty had been looting depositors money for loans to insiders.
Governor Bill Clinton headed the state regulatory agency to oversee Madison Guaranty Savings.