Description

Incorporated by Jim and Susan McDougal as the Whitewater Development Corporation in 1979, the plan was to sell vacation property and share the investment with business partners Bill and Hillary Clinton. Before the lots could be sold, interest rates rose to 20% and the business eventually turned into a bad investment. It would be the Clintons’ associations with the McDougals and the Whitewater Development Corporation that would tie them to other monetary scandals. Those scandals would kickstart the Independent Counsel investigations. The Clintons were not charged with any crimes related to Whitewater.

Flippin, Arkansas and Whitewater today