If you have the vague impression that President Clinton was paid $20 million to exit a partnership with Ronald Burkle in Yucaipa as part of an effort to clear away potential conflicts as Senator Clinton runs for president — well, not so fast. When we looked into the matter yesterday, it emerged that Mr. Clinton has as much as said he is going to wait and see whether his wife wins or loses to Senator Obama before he breaks off any potentially lucrative business arrangements. A Washington Post article following up an initial Wall Street Journal report on the potential $20 million payment quoted a Clinton spokesman, Matt McKenna, as saying, “he’s taking steps to ensure that there is an appropriate transition out of his business relationships should Senator Clinton become the Democratic nominee.” Emphasis ours. The Huffington Post quoted another Clinton spokesman, Douglas Band, as saying that Mr. Clinton was taking steps “to ensure that should she receive the nomination, there will be an appropriate transition.” Emphasis ours. So for all Mrs. Clinton’s recent campaigning against hedge funds, it looks like her family is hedging its bets with a straddle as careful as any of those devised by the most savvy New York traders.