from Wiki:Savings and Loan Scandal
In 1981, after leaving the House Banking Committee, Henry Hyde went on the board of directors of Clyde Federal Savings and Loan, whose President was one of many of Hyde's banker contributers. The Congress deregulated S&L industry in 1982, and Clyde started to be occupied of the risky financial options, taking part in the loans for luxury residences in Texas and buying of a bank in the Islands Cayman, a notorious financial exchange to launder money. Hyde knew of such businesses and of movements often made or assisted on the Clyde board to continue them. From 1984, when Hyde left the board, it was clear to the directors from the reports that the establishment was failed, but Hyde and others on the board continued to give the inaccurate financial rewards to cronies and insiders and make it possible the establishment to overcharge the government on student loans. In 1990, the federal government put Clyde in the receivership, and finally paid $67 million to cover deposits of assured -- more than the cost to bail out out of Madison Guarantee, the S&L at the center of the Ken' Starr's failed Whitewater investigation. In 1993, the Resolution Trust Corporation sued Hyde and other directors for $17.2 million. Four years after, before pretrial investigation and depositions, the government settled with the defendants for merely $850.000 and made a special arrangement exempting Hyde from paying anything. Hyde was the only member of the congress sued for "gross negligence" in an S&L failure. Hyde utilized his political clout and stubborn refusal to settle as a way to escape payment and give the illusion which he was discharged.
Iran/Contra
In 1987, Hyde promoted the false and misleading "Birmingham memo" to conceal involvement of the Contras with the narcotics trafficking.
Extramarital Affair
As Hyde was publicly pursuing the impeachment of Clinton, the Internet magazine Salon.com published This Hypocrite Broke Up My Family which stated that from 1965 to 1969, Hyde conducted an extramarital sexual affair with Cherie Snodgrass. At the time, Snodgrass was married to another man with whom she had had three children. The Snodgrasses divorced in 1967. The affair ended when Snodgrass' husband confronted Mrs. Hyde. The Hydes reconciled and remained married until Mrs. Hyde's death in 1992. Although Hyde was 41 years old and married when the affair occurred, he dismissed it as a "youthful indiscretion".[1]
Presidential Medal of Freedom
Henry Hyde received the Presidential Medal of Freedom (presented by George W. Bush), the nation's highest civilian honor, on November 5, 2007. The press release stated: "A veteran, a lawyer, and a public servant, Henry Hyde has served his country with honor and dedication. During his 32-year career in the House of Representatives, he was a powerful defender of life, a leading advocate for a strong national defense, and an unwavering voice for liberty, democracy, and free enterprise around the world. A true gentleman of the House, he advanced his principles without rancor and earned the respect of friends and adversaries alike. The United States honors Henry Hyde for his distinguished record of service to America." Hyde was hospitalized recovering from open-heart surgery and could not attend the ceremony in person.
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