Whitewater

Whitewater, usually spelled white water in both American and British English, is formed in a rapid, when a river's gradient increases enough to create so much turbulence that air is entrained into the water body, that is, it forms a bubbly or aerated and unstable current; the frothy water appears white. The term is also loosely used to refer to less turbulent, but still agitated, flows.

The term "whitewater" also has a broader meaning, applying to any river or creek itself that has a significant number of rapids. The term is also used as an adjective describing boating on such rivers, such as whitewater canoeing or whitewater kayaking.

Fast rivers

Four factors, separately or in combination, can create rapids: gradient, constriction, obstruction and flow rate. Gradient, constriction and obstruction are streambed topography factors and are relatively consistent. Flow rate is dependent upon both seasonal variation in precipitation and snowmelt and upon release rates of upstream dams.

Madison Guaranty

Madison Guaranty was a savings and loan association (thrift or S&L) financial trust company in Little Rock, Arkansas.

Starting in 1982 and operated by Jim McDougal and Susan McDougal, Madison Guaranty Savings and Loan failed in the late 1980s. On April 14, 1997, Jim McDougal was convicted of 18 felony counts of fraud conspiracy charges. The counts had to do with bad loans made by Madison S&L. This S&L was partnered with Whitewater Development Corporation, the subject of Whitewater probe and owned, in part, by Bill and Hillary Clinton.

Madison Guaranty and McDougal hired the Rose Law Firm where Mrs. Clinton worked as a defense attorney. Mrs. Clinton's Rose Law Firm billing records on Madison Guaranty and McDougal's Castle Grande project, which she called IDC (Industrial Development Corporation), could not be found. How much work she actually did on Madison and Castle Grande was the subject of the missing billing records. McDougal also held a fundraiser at Madison Guaranty that paid off Clinton's campaign debt of $50,000. Madison cashier's checks accounted for $12,000 of the funds raised.

Whitewater controversy

The Whitewater controversy (also known as the Whitewater scandal, or simply Whitewater) began with investigations into the real estate investments of Bill and Hillary Clinton and their associates, Jim and Susan McDougal, in the Whitewater Development Corporation, a failed business venture in the 1970s and 1980s.

A March 1992 New York Times article published during the U.S. presidential campaign reported that the Clintons—then governor and first lady of Arkansas—had invested and lost money in the Whitewater Development Corporation. The article stimulated the interest of L. Jean Lewis, a Resolution Trust Corporation investigator who was looking into the failure of Madison Guaranty Savings and Loan, owned by McDougal. She looked for connections between the savings and loan company and the Clintons, and on September 2, 1992, she submitted a criminal referral to the FBI naming Bill and Hillary Clinton as witnesses in the Madison Guaranty case. Little Rock U.S. Attorney Charles A. Banks and the FBI determined that the referral lacked merit, but she continued to pursue it. From 1992 to 1994, Lewis issued several additional referrals against the Clintons and repeatedly called the U.S. Attorney's Office in Little Rock and the Justice Department regarding the case. Her referrals eventually became public knowledge, and she testified before the Senate Whitewater Committee in 1994.

Dive Bomber

A dive bomber is a bomber aircraft that dives directly at its targets.

Dive Bomber may also refer to:

See also

Castle Grande

Castle Grande was a real estate development in Arkansas about 10 minutes south of Little Rock. It came into National news as a result of the Whitewater investigations. The project was a 1,050-acre (4.2 km²) lot where Jim McDougal hoped to build a microbrewery, shopping center, a trailer park and other future projects in 1985. The land was scrub pine forerst that had failed already as an industrial development. The sales price was $1.75 million. State regulations prohibited Jim McDougal from investing more than 6% of his Madison Guaranty S&L assets. So, he put in $600,000 of Madison money and then for the difference had Seth Ward put in the remaining $1.15 million. This money Ward borrowed from Madison Guaranty on non-recourse, no personal obligation to repay. If federal regulators found out, McDougal's S&L could be shut down, since it had already been operating under orders to correct its lending practices.

Seth Ward

Seth Ward an Arkansas businessman and Webster Hubbell's father-in-law was hired by Jim McDougal to assist in land acquisition for the Castle Grande project. Hillary Clinton, with the Rose Law Firm, worked with Ward on certain legal details of the project she knew as IDC - Industrial Development Corporation. Webster Hubbell was Hillary Clinton's partner and friend at the Rose Law Firm. The bad loans for the project cost the public $4 million.