PDA

View Full Version : Jeb Bush Got $1.3M Job At Lehman After Florida Shifted Pension Cash To Bank



AeonPax
08-31-2015, 02:48 PM
`
"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)
`

********************************
`
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

Captain Obvious
08-31-2015, 02:54 PM
Establishment.

Hillary is no different, worse maybe.

Ethereal
08-31-2015, 02:55 PM
This is how it works now. The political system is a big money-making scam for plutocrats.

Mark III
08-31-2015, 03:45 PM
`
"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)
`

********************************
`
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?
`
`
`
`




People who have been interested have known for some time that Jeb Bush is dirty. The whole Bush family is dirty in financial matters. He is banking on the fact that no one cares and he's probably right about that.