Partners in Crime; The Clintons' Scheme to Monetize the White House for Personal Profit by Jerome R. Corsi

Author:Jerome R. Corsi [Corsi, Jerome R.]
Language: eng
Format: epub
Publisher: WND Books

Judicial Watch concluded that Bill Clinton did speak to the scrap-recycling group on April 30, 2009, for a reported fee of $250,000.44

DOUG BAND, TENEO, WJC, AND STATE DEPARTMENT REVIEW

The Judicial Watch–released documents also included a request from Doug Band of the Clinton Foundation for an ethics review of Hillary Clinton’s proposed consulting arrangement, through WJC with Laureate Education, Inc. Judicial Watch noted that the Obama State Department redacted key terms of the attached May 1, 2010, draft agreement, including Hillary Clinton’s fees and the nature of her services. As discussed in detail in chapter 4, WJC is a “shell corporation” that Bill Clinton established to keep consulting and other payments to him off the books of the Clinton Foundation.

Laureate Education, often billed as one of the world’s largest for-profit universities, reportedly with eight hundred thousand students and revenues of $4 billion in 2014, hired Bill Clinton in 2004 to be its “honorary chancellor,” the appointment that sent Clinton to make appearances at Laureate campuses in countries as diverse as Malaysia, Peru, and Spain.45 Attracting notable investors, including George Soros, Henry Kravis of Wall Street investment banking firm KKR, and Paul Allen of Microsoft fame, Laureate Education was taken private in 2007 in a $3.8 billion buy-out. The company started struggling in 2010 when the Obama administration began cracking down on recruiting abuses and mounting student debt in the previously booming for-profit “university” market that attracted students many consider “subprime.”46

Since 2010, Bill Clinton has been paid more than $16 million to serve as “honorary chancellor” of Laureate Education.47 On October 2, 2015, Bloomberg Business reported that Baltimore-based Laureate Education had filed with the SEC for an initial public offering (IPO) under the new designation of being a public-benefit corporation, a legally incorporated company committed to doing social good.48 Laureate had begun interviewing investment banks for a $1 billion offering in the United States that would value the company at about $5 billion.

The Baltimore Sun reported that when Laureate Education filed for an IPO, it disclosed a massive $4.7 billion in debt, with hundreds of millions of dollars over the past several years.49 Stephen Davidoff Solomon, known as the “Deal Professor,” published in the New York Times’s “Deal Book” column in October 2015 a warning that Laureate Education had lost about $227 million in the previous two years, “mainly because of high interest payments on its debt.”50 On May 30, 2014, Moody’s Investor Services downgraded the outlook for Laureate Education from “stable” to “negative,” largely over concerns over the company’s “rising debt levels associated with acquisitions,” resulting from Laureate’s strategy of expanding through debt-financed acquisitions.51

Laureate’s founder and CEO, Douglas L. Becker, claims he was accepted at Harvard but declined, preferring to continue working in a local computer store over getting a college degree at the prestigious Ivy League university.52 An article published in the New York Times in 1985 noted that Becker had also declined to attend the University of Pennsylvania, where supposedly he had been accepted as a premedical undergraduate student.53

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