Clinton gets off lightly. (The Last Word).

On March 6th, the Office of the Independent Counsel appointed to investigate Bill Clinton's involvement in the failed Whitewater enterprise filed a 237-page report barely mentioning either that real estate debacle or the Madison Savings and Loan bank that failed in its wake. Instead, the report focused almost entirely on the president's various attempts to cover up his scandalous conduct with Monica Lewinsky.

The report, filed by current Independent Counsel Robert W. Ray, states that "sufficient evidence existed to prosecute President Clinton" for perjury and obstruction of justice. The former president committed those crimes in 1998 while seeking to block or alter testimony from others and then lying before a federal judge. There is no doubt that Mr. Clinton is guilty of these crimes, the very charges for which the House impeached him. And there is no doubt that the Senate disgraced itself by refusing to convict and remove him from office.

Bill Clinton remained president after the Senate's disgraceful performance, but he still faced possible prosecution for lying under oath and obstructing justice once he was out of office. This won't happen, however, as Ray allowed the outgoing president to cut a deal on January 19, 2001, one day before the Clinton term ended. Major features of this arrangement included Clinton's acknowledgement of guilt and his surrender of a license to practice law for five years. Ray claimed that Clinton had already paid a sufficient penalty for his transgressions.

This report and the mere slap on the wrist given Mr. Clinton said nothing about far more serious charges of bribery and possible treason for which Mr. Clinton should have been impeached. But the independent counsel had no authority to investigate Clinton's actions in these areas. Before it could consider doing so, Attorney General Janet Reno had to request a three-judge federal panel in Washington to expand the counsel's jurisdiction. Reno steadfastly refused to take such action.

House Judiciary Chairman Henry Hyde (R-Ill.) formally asked the attorney general to expand the independent counsel's authority in May of 1997. Hyde's request cited evidence that China had sent contributions to the Clinton-Gore 1996 reelection campaign and received favors in return. According to Hyde, those favors included waivers allowing sales of missile and bomber equipment and dozens of supercomputers. The Hyde letter said the Defense Department had protested those waivers, especially the one dealing with the computers that "may have given the People's Republic of China more supercomputer capacity than the entire Defense Department."

Evidence regarding Chinese money flowing to the Clinton-Gore coffers pointed to John Huang's contributions that won him Top Secret Clearance and entry to over 100 security briefings. Huang regularly met with Chinese officials while influencing U.S. policy toward China.

Johnny Chung's gift of $366,000 to the Democratic National Committee earned him regular access to the White House. He admitted his intent to buy influence when he stated, "I see the White House is like a subway -- you have to put coins in to open the gates." Chung served as a front man for the China Ocean Shipping Company (COSCO), and Mr. Clinton dutifully lobbied California state officials to grant COSCO control of one of the state's port facilities.

Clinton also accepted funds from American industrialist Bernard Schwartz of Loral Corporation. With more than half a million dollars from Schwartz, the president promptly switched licensing authority for Loral's sales of space technology and equipment from the State Department, which opposed the Loral-Chinese deals, to the Commerce Department, where they were approved.

The stench of Chinese contributions and subsequent favors granted by Clinton led House Majority leader Dick Armey (R-Texas) to suggest the word "treason" in a statement he issued in August 1998. By November 1998, even the

Clinton-friendly New York Times published William Safire's column urging that the House Judiciary Committee "focus on what is surely a high crime ... a multi-million dollar illegal overseas fund-raising scheme ... accompanied by a flip-flop in the China trade policy."

The Independent Counsel notwithstanding, the House was never limited to charging the president only with lying and obstruction of justice in the Paula Jones case. Yet, those were the only charges produced by the House.

Robert Ray can claim that the former president has already paid a sufficient penalty for his transgressions. But Rep. Chris Cannon (R-Utah), one of the House managers of the impeachment process, stated after the impeachment and trial had been completed that it "was a farce from the beginning." Why a farce? Cannon added: "Three years ago the Chinese didn't have the capacity to launch an accurate and reliable missile at the United States. Now they do ... in large part because of the loss of key technology under this President's watch."

Mr. Clinton should have been impeached on charges of bribery and treason. His actions have endangered the security of this nation. He hasn't come close to paying a sufficient penalty for his treachery.