Posted on 03/11/2016 12:48:14 PM PST by jimbo123
Jeb Bush And John Kasich’s Work At Lehman Spotlights Different Revolving Door Between Business and Government.
Republican presidential rivals Jeb Bush and John Kasich bring to their campaigns their experience as governors of major battleground states, but they also share a resume line from their time in the private sector. The Florida and Ohio pols both worked at the ill-fated Wall Street investment bank Lehman Brothers just as the firm was racking up vast losses for their states' respective pension systems.
While Kasich has denounced Wall Street greed and Bush has criticized lawmakers who become lobbyists, during their time at Lehman they leveraged their public sector experience -- Bush as a former governor and Kasich as a former nine-term congressman -- to help the bank build relationships and navigate public policy matters.
Those roles spotlight a lesser-known revolving door between corporations and government.
Rather than becoming traditional lobbyists, “these kind of people serve as door openers,” said Jeff Hooke, an investment banker who worked at Lehman Brothers in the 1990s. “Sometimes it’s hard for a normal investment banker -- even a senior guy -- to get a CEO or a finance minister to return his calls to present them with a new idea, so a guy like Jeb Bush, whose name is instantly recognizable or has lots of contact from his fundraising days or governorship or his family -- he’s going to get his calls returned.”
Bush and Kasich received big Lehman paychecks as the bank’s mortgage-backed securities decimated the investments intended to support their states’ retired workers, and today, both are getting financial support for their presidential campaigns from donors they worked with during their time at Lehman.
(Excerpt) Read more at ibtimes.com ...
Trump is ripping kasick a new one on this issue. May flip OH.
A good reason to not vote for either of them. Neither one was qualified to be an investment banker. Their only qualification was their political ties. And, like Hillary, they traded on them to get rich. People are finally sick of that on the Republican side. Hopefully the country is sick of it too and money-grubbing Hillary gets put out to pasture for good.
Nine terms in House, through revolving door to Lehman Bros., then Governor. The man is a career politician and I can’t believe he’s even doing well in Ohio. Isn’t he everything we’re fighting against?
I wonder if that could be because any CEO or finance minister with half a brain will experience a strong sense of intuition that no matter how attractive a proposal from a "senior guy" at Lehman sounds on the surface, in time it will be found to result in the transfer of large amounts of money from accounts for which the CEO or finance minister is responsible to accounts belonging to Lehman.
Yes, he is, and he did a great job hiding it.
Until now.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.