John Latham (Whitewater) facts for kids

John Latham was a business leader who became well-known because of something called the Whitewater investigation. He used to be the main boss, or CEO, of a company called Madison Guaranty.

Madison Guaranty was a company owned by James and Susan McDougal. John Latham worked there as the CEO.

Early Connections

John Latham had connections with important people. On February 7, 1985, Jim McDougal wrote a letter to Governor Bill Clinton of Arkansas. In the letter, McDougal suggested that Latham should join the Arkansas State Savings and Loan Board. This board helped oversee financial companies.

Working with Madison Guaranty

A friend of John Latham, Richard Massey, helped connect Madison Guaranty with a law firm called the Rose Law Firm. Law firms provide legal advice and help with rules and laws. Hillary Clinton also worked with John Latham around this time.

In July 1985, an internal note from Jim McDougal to John Latham mentioned that McDougal wanted to talk with Hillary Clinton about things Latham had with the Securities Commission. The Securities Commission is a group that watches over financial dealings to make sure they are fair and follow the rules.

Whitewater Investigation

Madison Guaranty started having financial problems. Because of these problems, a group called the FHLBB (Federal Home Loan Bank Board) told Madison Guaranty's board of directors to remove John Latham from his position on July 11, 1986. The board of directors is a group of people who guide a company.

John Latham later became part of an investigation led by Kenneth Starr. This investigation looked into a land deal known as the Whitewater land deal. During this time, John Latham faced questions about a large loan of $500,000. This loan was made to buy a warehouse.