Talk show host Jimmy Kimmel, from left, former President Bill Clinton former Secretary of State Hillary Rodham Clinton and Vice Chair of the Clinton Foundation, Chelsea Clinton speak during a student conference for the Clinton Global Initiative University, Saturday, March 22, 2014, at Arizona State University in Tempe, Ariz. More than 1,000 college students are gathered at Arizona State University this weekend as part of the Clinton Global Initiative University's efforts to advance solutions to pressing world challenges. (AP Photo/Matt York) Talk show host Jimmy Kimmel, from left, former president Bill Clinton former secretary of state Hillary Clinton and Chelsea Clinton speak during a student conference in March. (Matt York/Associated Press)

The two most serious issues for Hillary Clinton in the most recent batch of e-mails concern donors and Iran.

On donors, Bloomberg points out:

Clinton says that Blackstone CEO Stephen Schwarzman “wanted help on a visa” and asked for a status report. The name of the potential recipient was redacted by the State Department. She then says that Honeywell CEO David Cote “complained about export control regs that interfere w sales.”

And when Terrence Duffy, executive chairman of derivatives trader CME Group, asked her to stop by a Washington dinner he was hosting for “150 or so folks from the exchange,” Clinton asked an aide to try to find time for the group to visit the State Department. Duffy is a major political donor who generally backs Republicans (in one e-mail he conveyed greetings from Senator Lindsey Graham, one of this year’s Republican presidential candidates) but he did give the maximum contribution of $4,600 to Clinton’s 2008 presidential campaign. In another e-mail, Duffy asked Clinton to deliver a keynote address in 2010 when he was to be honored by the American Friends of Hebrew University. . . .Clinton exchanged e-mails with Stanley Roach of Morgan Stanley, a donor to her Senate and presidential campaigns, about China economic policy. “Delighted to hear from you,” Clinton wrote after Roach apologized for a “rambling” e-mail. In a later message she asked an aide to make time for her to see Roach when he was in Washington.

Let’s take a look at additional connections between these entities and the Clinton family.

According to Clinton Foundation records, Blackstone gave the foundation between $250,001 and $500,000, including a donation in 2014. Based on records available, we don’t know if the gifts preceded or followed the favor. But this was mutual-backscratching of the first order. Honeywell made donations between $25,001 and $50,000. It also took part in a program through the foundation to provide books to kids in Mexico. It participated in a $2.3 million program to help China transfer to sustainable energy. As of 2014, Morgan Stanley donated between $100,001 and $250,000 to the foundation. Back in 2001, Bill Clinton got $125,000 to speak to Morgan Stanley Dean Witter bond traders and clients at a golf resort in Boca Raton, Fla. Whether direct favors were rendered before or after the money was paid there is a pattern here: Big business gives to the Clinton money machine and they get very nice treatment. And remember these are only the e-mails that Hillary Clinton has chosen to provide and which the State Department has released to date.

Then there is Iran. In one exchange, close adviser Phillippe Reines provided corroboration that the 2009 Iranian election was rife with fraud. Oddly, Clinton only wanted to know if it was public (and hence the basis for Americans to doubt the entire engagement strategy.) You will recall that she and the president were understated in their pronouncements on the Green Movement, a stance she said she regretted in her book “Hard Choices.” It is also noteworthy that Sidney Blumenthal, whose expertise was nonexistent, provided information to her. One gets the impression she is a passive observer, cocooned in her political nest. And maybe that is all she really was in this administration.