Course many of those w/ bad credit scores could be victims of Kasich/s disastrous adventures w/ Lehman Brothers.
LOCAL YOKEL KASICH
Kasich/s "I'm-Just-A-Regular Guy act is wearing thin, The facts are these:
Kasich was managing director of Lehman/s Columbus, Ohio investment banking division until the bank went under in 2008. Kasich says "I wasn't involved in the inner workings of Lehman, I was a banker. I didn't go to board meetings or go and talk investment strategy with the top people."
Kasich is lying b/c a report in The Columbus Dispatch, quotes a Lehman official who said Kasich had “board level and CEO relationships where he helped not only open the door for Lehman Brothers, but he also was a key member of the deal team providing advice.”
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What does Kasich know about this?
The best book on the 2008-9 banking crisis that slaughtered our economy was “The Sellout,” by Charles Gasparino. He traces several threads:
- How the investment banks (Merrill, Lehman, Bear Stearns) had leveraged themselves into near-death experiences;
- How banks gave out low-down payment mortgages to buyers with sub-standard credit, forcing up prices;
- How the scam of "securitization" meant these sub-standard loans could be bundled up and sold far and wide (w/ great losses to the buyers);
- How the ratings agencies gave out dubious AAA ratings
- How the sales incentives to create mortgage-backed securities led to incredible short term behavior on the part of investment bankers;
- How AIG (insurance) screwed up by guaranteeing many Credit Default Swaps....etc, etc, etc.
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Kasich got the Lehman job b/c he introduced Ohio pension reps to Lehman officials (2010)
Did Kasich fcilitate Lehman doing education, transportation, municipal bonding deals for Ohio?
(The bonding scam: That/s where the pols and the bank make zillions of dollars in perpetuity....leaves the taxpayers w/ huge tax bills....in perpetuity).