for his great expertise... right? 8^)Trump questions why Lehman Brothers paid Jeb Bush ‘$1.3 million a year for a no-show job’
for his great expertise... right? 8^)Trump questions why Lehman Brothers paid Jeb Bush ‘$1.3 million a year for a no-show job’
This is a very legitimate question. This family likes their banks.
Jeb’s brother, Neil, was involved in the Silverado savings and loan scandal that cost taxpayers 1.3 billion, but George Sr. was VP at the time so he manage to escape criminal indictment.
The grandfather also had banking connections. Prescott Bush was a founding member and one of seven directors (including W. Averell Harriman) of the Union Banking Corporation (holding a single share out of 4,000 as a director), an investment bank that operated as a clearing house for many assets and enterprises held by German steel magnate Fritz Thyssen.[6][7] In July 1942, the bank was suspected of holding gold on behalf of Nazi leaders.[8] A subsequent government investigation disproved those allegations but confirmed the Thyssens’ control, and in October 1942 the United States seized the bank under the Trading with the Enemy Act and held the assets for the duration of World War II.[6] Journalist Duncan Campbell pointed out documents showing that Prescott Bush was a director and shareholder of a number of companies involved with Thyssen.[6]
So Jeb Bush’s connection to Lehman needs to be investigated.
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.