[Congressional Record Volume 140, Number 104 (Tuesday, August 2, 1994)]
[House]
[Page H]
From the Congressional Record Online through the Government Printing Office [www.gpo.gov]


[Congressional Record: August 2, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]


                              {time}  1250
 
                    STEPHANOPOLOUS' SWEETHEART DEAL

  (Mr. STEARNS asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. STEARNS. Mr. Speaker, we have been reading about George 
Stephanopolous' real estate deal.
  According to newspaper accounts, President Clinton's right-hand man 
recently sealed a $668,000 commercial real estate loan at 6.3 percent 
from Nation's Bank. Most folks are paying 8.5-9.5 percent today.
  Nation's Bank is run by a person who President Clinton called quote 
``the most enlightened banker in America.'' I am sure he is, and I'm 
sure Mr. Stephanopolous probably thinks so too.
  What's puzzling to many, according to columnist Jack Anderson, is 
``how the President's most trusted adviser became heavily leveraged 
despite a comparatively modest net worth and annual income.''
  His real estate agent said that ``George made out like a bandit.'' I 
am sure he did.
  Mr. Stephanopolous first said he received a commercial loan. Now he 
says he received a residential loan.
  What is the big deal? I guess its because President Clinton said that 
his administration was going to do things differently when they came to 
town, that there would be no more ``business as usual,'' that even the 
appearance of impropriety was unacceptable.
  Mr. Speaker, we have had Whitewater, cattle futures, Travelgate, and 
now, the President's most trusted adviser making out like a bandit. 
Where do we go from here?

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