HILLARY CLINTON (D-PUNJAB)’S
PERSONAL FINANCIAL AND POLITICAL TIES TO INDIA
The Clintons have reaped significant financial rewards from their relationship with the Indian community, both in their personal finances and Hillary’s campaign fund raising. Hillary Clinton, who is the co-chair of the Senate India Caucus, has drawn criticism from anti-offshoring groups for her vocal support of Indian business and unwillingness to protect American jobs. Bill Clinton has invested tens of thousands of dollars in an Indian bill payment company, while Hillary Clinton has taken tens of thousands from companies that outsource jobs to India. Workers who have been laid off in upstate New York might not think that her recent joke that she could be elected to the Senate seat in Punjab is that funny.
IT’S ALL ABOUT THE MONEY
PERSONAL HOLDINGS
2006: Bill Clinton Invested Tens of Thousands In An Indian Bill Payment Company. According to Hillary Clinton’s personal financial disclosure form, as part his ownership of WJC Investments, LP LLC, Bill Clinton held between $15,001 and $50,000 worth of stock in Easy Bill Limited, an Indian company. According to the company’s website, “Functioning as a one-stop bill payment shop, Easy Bill facilitates payment of utility bills as well as recharging of pre-paid mobile connections at a place the consumer is already familiar and comfortable with the neighbourhood store.” In addition to providing terminals throughout India where customers may pay their bills, the company also maintains a call center described as “a dedicated response centre for efficient customer service.” [Hillary Clinton 2006 Financial Disclosure Report, http://www.easybillindia.com/]
2006: Bill Clinton Collected $300,000 From CiscoIn2006. Hillary’s personal financial disclosure forms indicate that Bill Clinton gave two speeches to Cisco Systems, each for $150,000 on 5/18/06 and 8/17/06. [Hillary Clinton 2006 Financial Disclosure Report; 3,4]
CAMPAIGN FUNDRAISING
Hillary Clinton Accepted Almost $60,000 In Contributions From Employees Of Cisco Systems, Which Laid Off American Workers to Hire Indian “Techies.” Clinton’s Presidential Exploratory Committee took $39,450 from Cisco employees during the first quarter of 2007. Cisco employees have also donated $18,900 to Clinton’s Senate committee between 1999 and 2006. Forbes reported, in a feature called “A Tale of Two Cities” that Cisco was laying off $60,000-a-year “techies,” while hiring new employees in Bangalore, India. “Cisco used only a few Infosys workers in Bangalore six years ago [in 1998]; [by 2004, it used] almost 300 contract staff, plus 550 full-fledged employees in its own Bangalore office.” In 2006, Newsweek reported that “for Cisco, India is the new frontier, where it’s investing $1.2 billion to build a gleaming R&D campus that will employ 3,000 people.” [FEC filings; Forbes, 4/12/04; Newsweek, 3/6/06]
Clinton Donor, Sant Singh Chatwal, Cited Clinton’s India Caucus Work Vowed To Raise $5 Million. In March 2007, the Economic Times wrote, “[Clinton] has roped in New York-based hotelier Sant Chatwal as co-chair of her recently formed presidential exploratory committee to run for the 2008 White House race. […] He is also creating an organization called Indian Americans for Hillary 2008.” In April 2007, Mangalorean reported that Indian Americans for Hillary 2008 (IAFH) had already raised $1 million and “aimed to raise at least five million dollars.” A major fund raiser on June 24 hosted by Chatwal, the founder of IAFH; steel baron, Lakshmi Mittal, and businessman SP Hindujas, was expected to pull more than 1,000 guests. In June 2007, The New York Times reported that “two Indo-American receptions have a total of $450,000 in commitments.” In the picture (right), Sen. Clinton speaks at a reception hosted to push forward the US-India nuclear deal while Sant Singh Chatwal listens carefully. [New York Times, 6/7/07; Economic Times of India, 3/18/07; mangalorean.com, 4/14/07, accessed 4/18/07; picture, Tribune India, 9/14/06]
 Chatwal Owed The City Of New York More Than $2 Million In Back Taxes, Fled Prosecution For Fraud But Was Arrested During Visit to India With Bill Clinton. Sant Singh Chatwal, who raised more $200,000 for Sen. Clinton in 2000, owed New York City $2.4 million in back property taxes. In addition, during a visit to India with Bill Clinton, in May 2001, Chatwal was arrested by authorities there and charged with defrauding the New York City branch of the Bank of India out of $9 million he borrowed in 1994. He posted bail, then fled India, boarding a flight to Vienna despite an attempt by authorities to detain him. . [New York Daily News, 11/24/02; New York Daily News, 11/7/00]
 FDIC Charged Chatwal With Obtaining Improper Loans. In a separate 1996 case, the Federal Deposit Insurance Corp. charged Chatwal with obtaining improper loans from the First New York Bank for Business, causing the bank to lose more than $25 million. Chatwal, who was a director of the bank, arranged more than $14 million in loans to himself and his businesses, often with no collateral, said the FDIC. He didn’t repay the loans and the bank failed. [New York Daily News, 11/24/02; New York Daily News, 11/7/00]