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Line 5:
Line 5: − Lasater was a party animal renowned for cocaine soirees at his Arkansas mansion, who claimed to have paid off drug debts of the President's brother Roger. Even after a police investigation of Lasater in 1985 for drugs, Clinton approved a $30.2 million bond issue for him to overhaul the state police radio system. In 1986 Lasater was sentenced to 30 months in prison for the distribution of cocaine (Roger Clinton was an unindicted co-conspirator) and was pardoned for it by Clinton. He remained connected to the White House through Patsy Thomasson, manager of Lasater and Company while Lasater was in jail.+
Arkansas Development Finance Authority (view source)
Revision as of 00:34, October 19, 2016
, 00:34, October 19, 2016no edit summary
The ADFA primarily served two masters: the Stephens, Inc., investment bank that received 78 percent of ADFA's underwriting fees and sales of housing and industrial bonds (Clinton had appointed two Stephens associates to the ADFA board) (10); and Clinton crony [[Dan Lasater]], whose municipal bond issues firm underwrote $664 million in Arkansas state bonds in just two yeaes.<ref>Davis, L. J., "The Name of the Rose," The New Republic, April 4, 1994. </ref> In just two years Lasater & Co. underwote $664 million in Arkansas bonds.
The ADFA primarily served two masters: the Stephens, Inc., investment bank that received 78 percent of ADFA's underwriting fees and sales of housing and industrial bonds (Clinton had appointed two Stephens associates to the ADFA board) (10); and Clinton crony [[Dan Lasater]], whose municipal bond issues firm underwrote $664 million in Arkansas state bonds in just two yeaes.<ref>Davis, L. J., "The Name of the Rose," The New Republic, April 4, 1994. </ref> In just two years Lasater & Co. underwote $664 million in Arkansas bonds.
ADFA was intended to be an elaborate money-laundering scheme for drugs brought into the United States which had been traded for weapons to aid the Nicaraguan Contras in round trips from Mena, Arkansas to Central America. The Contras were fighting the the [[Soviet]] and [[Cuba]!n backed [[Sandinistas]] during the war in [[El Salvador]]. The White House had specifically been denied funding requests by Congress to overthrow the [[Nicaragua]]n [[communist]] regime which had been fomenting violent [[revolution]] outside its borders.
==See also==
==See also==