AeonPax
08-31-2015, 02:48 PM
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"For Florida taxpayers, the move by the administration of then-Gov. Jeb Bush to forge a relationship with Lehman Brothers would ultimately prove disastrous. Transactions in 2005 and 2006 put the Wall Street investment bank in charge of some $250 million worth of pension funds for Florida cops, teachers and firefighters. Lehman would capture more than $5 million in fees on these deals, while gaining additional contracts to manage another $1.2 billion of Florida's money. Then, in the fall of 2008, Lehman collapsed into bankruptcy, leaving Florida facing up to $1 billion in losses.
But for Jeb Bush personally, his enduring relationship with Lehman would prove lucrative. In 2007, just as he left office, Bush secured a job as a Lehman consultant for $1.3 million a year, Bloomberg reported.
Weeks after Bush took the Lehman job, the Florida State Board of Administration (SBA) -- a three-member body that makes investment decisions about state pension funds and whose ranks had recently included one Jeb Bush -- gave Lehman additional business: SBA purchased $842 million worth of separate investments in Lehman’s mortgage-backed securities. Over the course of one year from June 2007 to June 2008, the SBA would shift an additional $420 million of pension money into the same fund in which the state had begun investing under Bush." - Source (http://www.ibtimes.com/election-2016-jeb-bush-got-13m-job-lehman-after-florida-shifted-pension-cash-bank-2059224)
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It's called a political revolving door. You help someone while in office, they help you when you get out, like set you up with a cushy job for life. Perfectly legal. This worked out well for Bush, not so much for the working class in Florida.
And this fool wants to be president?
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https://i.imgur.com/71dCXWx.jpg
"For Florida taxpayers, the move by the administration of then-Gov. Jeb Bush to forge a relationship with Lehman Brothers would ultimately prove disastrous. Transactions in 2005 and 2006 put the Wall Street investment bank in charge of some $250 million worth of pension funds for Florida cops, teachers and firefighters. Lehman would capture more than $5 million in fees on these deals, while gaining additional contracts to manage another $1.2 billion of Florida's money. Then, in the fall of 2008, Lehman collapsed into bankruptcy, leaving Florida facing up to $1 billion in losses.
But for Jeb Bush personally, his enduring relationship with Lehman would prove lucrative. In 2007, just as he left office, Bush secured a job as a Lehman consultant for $1.3 million a year, Bloomberg reported.
Weeks after Bush took the Lehman job, the Florida State Board of Administration (SBA) -- a three-member body that makes investment decisions about state pension funds and whose ranks had recently included one Jeb Bush -- gave Lehman additional business: SBA purchased $842 million worth of separate investments in Lehman’s mortgage-backed securities. Over the course of one year from June 2007 to June 2008, the SBA would shift an additional $420 million of pension money into the same fund in which the state had begun investing under Bush." - Source (http://www.ibtimes.com/election-2016-jeb-bush-got-13m-job-lehman-after-florida-shifted-pension-cash-bank-2059224)
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********************************
`
It's called a political revolving door. You help someone while in office, they help you when you get out, like set you up with a cushy job for life. Perfectly legal. This worked out well for Bush, not so much for the working class in Florida.
And this fool wants to be president?
`
`
`
`
https://i.imgur.com/71dCXWx.jpg