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The New York Times reporter Jeff Gerth reports in today's paper that early in his tenure as Governor of Arkansas, Bill Clinton was involved in a failed development deal with his wife Hillary Clinton and the owner of Arkansas Savings and Loan Madison Guaranty, Jim McDougal. On the campaign trail in Texas, Clinton had to answer questions about the deal in the Ozarks to develop vacation property they called WhiteWater Development. Clinton claims that he entered into the business arrangement when Jim McDougal was not in the savings and loan business. Clinton also claimed that his wife's law firm, the Rose Law Firm, represented a lot of clients who did business with the state of Arkansas, but never interfered in regulatory matters. Paul Tsongas calls this an error in judgement.