Cattlegate and Hillary Clinton

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In 1978, Hillary Rodham Clinton turned a small $1,000 investment into nearly $100,000 after 10 months. The event is referred to as the "cattle futures controversy" or "Cattlegate."[1]

The Journal of Economics and Statistics placed the odds at 250 million to one that a trader could honestly achieve the results Hillary achieved.[2]

Hillary's account was managed by Jim Blair, who was a high-ranking member of the Tyson food empire. Speculation is that Hillary's profits in part reflected on a method to curry favor with her husband Bill's administration.[3]

Relationship with Jim Blair

Bill Clinton had become friends with Jim Blair during Clinton's 1974 race for Congress. In 1977, Clinton recommended Blair for an appointment by President Jimmy Carter to the Federal Home Loan Bank Board. In 1979, Blair got married and Bill served as the officiant at the wedding. Hillary was "best person."[4]

Analysis

The Marshall Magazine, a publication at the business school of the University of Southern California, conducted an analysis into what might have caused Hillary to achieve such extraordinary profits in 10 months.[2]

  1. Blair may have been an exceptionally good trader.
  2. Hillary may have been exceptionally lucky
  3. Blair may have been front-running other orders.
  4. Blair may have arranged to have a broker fraudulently assign trades to benefit Hillary's account.

References

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