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Reagan paid back his friends for house they bought for him

From CNN Senior Producer Pam Stevens

WASHINGTON (CNN) -- Former President Ronald Reagan, whose friends bought him a $2.5 million dollar home in Bel Air, California, in 1989, paid those friends back -- with interest -- after he left the White House, his chief of staff said Friday.

The story of the purchase of the home has been in the news recently in connection with the uproar over President Clinton and First Lady Hillary Rodham Clinton's leaving the White House with some $190,000 in gifts.

Reagan Chief of Staff Joanne Drake said Reagan's friends bought the home for him before he left the White House. She said that, like any other president, Reagan's income went into a trust. After he left office, he used the money from that trust to pay back his friends for the home and included interest.


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Friday, January 26, 2001

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