Reports are quickly surfacing, although none of them confirmed, that while Bill Clinton was off hustling Hollywood for campaign cash- money wasn’t the only thing he was “raising”.

Vanity Fair is reporting that Billy Clinton once had relations with actress Gina Gershon.

As for Gershon – she’s not a happy camper.

TMZ has obtained a copy of a demand letter from Gina Gershon to Vanity Fair. Make no mistake – she’s pissssed.

All we have to say – if true, it’s a vast improvement.