Updated 7-4-97


Arkansas Roots

The RTC Investigation

The Senate Hearings

The First Trial

The Second Trial


Cast of Characters

Related Stories

A Starr-Crossed Investigation The three-year, $30 million probe of a small-time Arkansas land deal has taken some troubling turns. (6/30/97)


Related Sites

Clinton's Testimony From The First Whitewater Trial

Clinton's Testimony From The Second Whitewater Trial


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¤ 1979-1992 ¤ 1993-1995 ¤ 1996 ¤ 1997 ¤

Bill & Hillary

1975 -- Bill Clinton and Hillary Rodham marry.

1977 -- Mrs. Clinton joins the Rose Law Firm in Little Rock, Arkansas.

1978 -- The Clintons and the McDougals borrow nearly $200,000 from Citizens Bank to buy scenic though remote land along the White River in Flippin, Ark. Without telling Citizens Bank, they borrow $20,000 from another bank to make the down payment.

1978 -- Mrs. Clinton begins trading commodities with an initial investment of $1,000.

Swearing in

1978 -- Clinton is elected governor of Arkansas.

1979 -- James McDougal joins Clinton's gubernatorial administration as an economic advisor.

1979 -- Mrs. Clinton closes out her commodities account after making nearly $100,000.

1979 -- The Whitewater Development company is formed, with ownership shared between the Clintons and McDougals.

1980 -- McDougal quits his job with Clinton and buys a bank in Kingston, Ark., that he renames Madison Bank & Trust Co.

1980 -- Clinton loses his re-election bid for governor. Mrs. Clinton calls McDougal asking for money.

1980 -- Mrs. Clinton borrows $30,000 from Madison Bank to build a model home at Whitewater.

1982 -- The McDougals buy a savings and loan bank and rename it Madison Guaranty Savings and Loan.


1982 -- Clinton wins back the governorship.

1983 -- Clinton borrows $20,000 from the Security Bank of Paragould to reduce Mrs. Clinton's Madison Bank loan.

1984 -- Clinton jogs over to McDougal's office and asks him to help Mrs. Clinton by giving business to her at the Rose firm. McDougal agrees.

1985 -- Mrs. Clinton meets with McDougal, and he agrees to pay a monthly retainer to the Rose firm.

1985 -- McDougal barters the remaining Whitewater lots to Chris Wade for an airplane and the assumption of $35,000 in bank debt.

1985 -- Mrs. Clinton angrily rebuffs the McDougals' effort to have the Clintons sign over their interest in Whitewater.

1986 -- The McDougals separate.

1986 -- McDougal is forced to resign from Madison Guaranty.

1986 -- Mrs. Clinton ends Rose's retainer agreement with Madison.

1986 -- Mrs. Clinton again refuses to transfer the Clintons' interest in Whitewater to the McDougals.

1986 -- Mrs. Clinton balks at giving Susan McDougal a financial disclosure form for Citizens Bank, now renamed 1st Ozark National Bank.

1987 -- Mrs. Clinton deals directly with loan officers at 1st Ozark and assumes control of the Whitewater investment.

1987 -- Clinton signs a bill expanding branch banking, a statute that primarily benefits Twin City Bank, the parent of 1st Ozark.

1989 -- Madison fails in March, costing the taxpayers $60 million.

1989 -- McDougal is indicted on charges relating to the Castle Grande, a Madison-funded real estate project Rose attorneys, including Hillary Clinton, worked on.

1990 -- McDougal is acquitted of the charges.

1990 -- Clinton tells McDougal's lawyer he wants out of Whitewater, but Mrs. Clinton again balks.


1991 -- Clinton announces he is running for president.

1992 -- Mrs. Clinton again refuses to relinquish the Clintons' interest in Whitewater.

1992 -- Clinton is elected president.

1992 -- McDougal and Vince Foster, representing the Clintons, sign papers selling the Clintons' interest in Whitewater to McDougal for $1,000.

1992 -- Clinton's presidential campaign, responding to pressure from the media, issues a statement that the Clintons did nothing improper with Whitewater dealings.

¤ 1979-1992 ¤ 1993-1995 ¤ 1996 ¤ 1997 ¤

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