BofA, JC Flowers, CIC plan joint Lehman bid

Bank of America, JC Flowers & Co, the financial investor, and China Investment Co, the Chinese sovereign wealth fund, are considering a possible joint bid for Lehman Brothers, the embattled Wall Street bank.

According to people familiar with the matter, the BofA-led group is among those examining a rescue of Lehman, which is racing to find a buyer after shareholders, creditors and counterparties gave a thumbs-down to its efforts to survive as an independent entity. Barclays, the UK bank, is also interested.

JC Flowers in joint Lehman bid.

JC Flowers & Co, the financial investor, is the man who invests the blind trust of NJ Gov Jon Corzine (Corzine was formerly employed by Goldman Sachs.

BACKSTORY Wall Street operator Corzine "invested" $103 million of his assets to buy two public offices. "Return on investment" guides his every govt activity.

SHINESI BANK DEAL SHOWS JON PROFITING FROM PUBLIC OFFICE Principles of Jon's so-called "blind trust" led the lucrative takeover of the bank. Then-US Sen Corzine used the power of his Senate office, and his Senate vote, to approve a tax treaty providing a special exemption from Japanese taxes on investment profits. Corzine said he was "not aware" of and did not "benefit" from the special provision.

(Waiting for hysterical laughter to die down)

THE SHINESI DEAL UP CLOSE Nancy Martori Dunlap, Esq, is Corzio's hand-picked trustee overseeing his vast assets, including his "blind trust." Dunlap and James I. Black, Esq, execute financial decisions made by Corzine's pal----Wall Street's J. Christopher Flowers-----the man who decides where to invest Corzine's fortune--the man who led the Shinesi Bank takeover.

FOLLOWUP In Aug 2007, now Governor Corzine named Erika Irish Brown, a senior VP at Lehman Bros---to the State Investment Council (SIC) which makes "alternative" investments of the $82 billion state pension fund.

In no time, Jon’s hand-picked Wall Street pals at the SIC (aka The Div of Looting) stunned the financial world---putting $400M pension funds in shaky Citigroup, $300M in iffy Merrill Lynch---as banking giant Bear Stearns collapsed. $180M pension funds went to Lehman Brothers (then-considered next banking giant to go under).

$5B IN PENSION FUNDS GONE Aug 08 Jersey Treasury Dept website shows state pension account down a whopping 3.1% (prelim FY report--could be much higher).

Can you say buddy bail-out? And offshore wire transfer?

IT AINT OVER Jon and his W/S buddies sta$shed in strategic Jer$ey government agencie$ are now rigging laws to increase their investment stash from 18% to 28%.

>>>BACKSTORY Wall Street operator Corzine "invested" $103 million of his assets to buy two public offices. "Return on investment" guides his every govt activity.<<<

Very odd how he had to invest all that money to attain the office of governor. China recognized Corzine as the New Governor back in 2004. Goldman Sachs even set up foundations for Asia. (same link - PDF hyperlinked at page 7 reference).

Then again, using his own money meant that Norman Hsu had less to launder to him (2004 also).

>>>Then-US Sen Corzine used the power of his Senate office, and his Senate vote, to approve a tax treaty providing a special exemption from Japanese taxes on investment profits. Corzine said he was "not aware" of and did not "benefit" from the special provision.<<<

He signed a memorandum of trade with China too.

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