Matthew Yglesias has a must-read piece on former Secretary of State Colin Powell’s charitable foundation and why it’s treated differently than the Clinton Foundation.

Because Colin Powell did not have the reputation in the mid- to late ’90s of being a corrupt or shady character, his decision to launch a charity in 1997 was considered laudable. Nobody would deny that the purpose of the charity was, in part, to keep his name in the spotlight and keep his options open for future political office. Nor would anybody deny that this wasn’t exactly a case of Powell having super-relevant expertise. What he had to offer was basically celebrity and his good name. By supporting Powell’s charity, your company could participate in Powell’s halo.

But when the press thinks of you as a good guy, leveraging your good reputation in this way is considered a good thing to do. And since the charity was considered a good thing to do, keeping the charity going when Powell was in office as secretary of state was also considered a good thing to do. And since Powell was presumed to be innocent — and since Democrats did not make attacks on Powell part of their partisan strategy — his charity was never the subject of a lengthy investigation.

Which is lucky for him, because as Clinton could tell you, once you are the subject of a lengthy investigation, the press doesn’t like to report, “Well, we looked into it and we didn’t find anything interesting.”