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{{cquote|scandal stemming from allegations of impropriety surrounding a 1978 investment by [[Bill Clinton]] and his wife, [[Hillary Clinton]], in the Whitewater Development Corp., an [[Arkansas]] real-estate company. Whitewater-related inquiries by [[Congress]], legal authorities, and news organizations continued throughout the Clinton presidency.

{{cquote|scandal stemming from allegations of impropriety surrounding a 1978 investment by [[Bill Clinton]] and his wife, [[Hillary Clinton]], in the Whitewater Development Corp., an [[Arkansas]] real-estate company. Whitewater-related inquiries by [[Congress]], legal authorities, and news organizations continued throughout the Clinton presidency.

The partnership between the Clintons and two of their associates in the venture, James McDougal and his then wife, [[Susan MacDougal]], was formed in 1978 while Bill Clinton was Attorney General of Arkansas and continued after he became [[governor]]; Hillary Clinton and her law firm also handled some of McDougal's legal business. During the 1980s, when McDougal used his ownership of the Madison Guaranty Savings and Loan for speculative real-estate ventures, insider loans, and other questionable practices, concern was raised that money may have been used improperly for the failing Whitewater Corp., and that Bill Clinton may have used his influence to help the savings and loan. In 1989 the insolvent institution closed, and the federal government had to finance a $60 million bailout.

The partnership between the Clintons and two of their associates in the venture, [[James McDougal]] and his then wife, [[Susan MacDougal]], was formed in 1978 while Bill Clinton was Attorney General of Arkansas and continued after he became [[governor]]; Hillary Clinton and her law firm also handled some of McDougal's legal business. During the 1980s, when McDougal used his ownership of the Madison Guaranty Savings and Loan for speculative real-estate ventures, insider loans, and other questionable practices, concern was raised that money may have been used improperly for the failing Whitewater Corp., and that Bill Clinton may have used his influence to help the savings and loan. In 1989 the insolvent institution closed, and the federal government had to finance a $60 million bailout.

When the Whitewater partnership was dissolved in 1992, the Clintons claimed a net loss of more than $40,000. Nevertheless, Whitewater-related inquiries followed them to the [[White House]] in 1993, in part because the new administration gave prominent positions to several of Hillary Clinton's former law partners, including [[Vincent Foster]], who was named deputy White House counsel, and [[Webster L. Hubbell]], who became associate attorney general. Foster, who was handling Whitewater-related matters and other politically sensitive issues, committed suicide in July 1993.

When the Whitewater partnership was dissolved in 1992, the Clintons claimed a net loss of more than $40,000. Nevertheless, Whitewater-related inquiries followed them to the [[White House]] in 1993, in part because the new administration gave prominent positions to several of Hillary Clinton's former law partners, including [[Vincent Foster]], who was named deputy White House counsel, and [[Webster L. Hubbell]], who became associate attorney general. Foster, who was handling Whitewater-related matters and other politically sensitive issues, committed suicide in July 1993.