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Lehman's Gift To Jeb Bush For Funneling Pension Money: A $1.3 Million Consulting "Job"
Submitted by Mike Krieger via Liberty Blitzkrieg blog,
At this point, it almost feels like kicking someone while he’s down. Jeb Bush can’t even stand up to Donald Trump, let alone his own growing series of scandals.
In the latest revelation from David Sirota and team at International Business Daily, we learn that:
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.
Next time, please just ride off into the sunset and paint landscapes with your brother.
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.
In short, during Bush’s first year working for Lehman, his former colleagues in Tallahassee, the state capital, moved vast sums of Florida pension money into the doomed Wall Street investment bank, even as warnings about its financial troubles began to emerge.
“This is a breathtaking conflict of interest going on here,” said Craig Holman, governmental ethics lobbyist with Public Citizen, a good-government group. “This cost Florida very dearly, and it enriched Jeb Bush.”
Jeff Connaughton, author of the book “The Payoff: Why Wall Street Always Wins,” said the transactions illustrate a larger culture that dominates the politics of finance.
Florida originally began investing money in Lehman in 2005, while Bush was the highest profile member of the SBA, which oversees the $150 billion pension fund. The Bush-led SBA that year committed $176 million to Lehman; in 2006, as Florida moved another $87 million into the Lehman investment, the firm hired Jeb Bush’s cousin, George Herbert Walker, to run the firm’s investment management division.
The next year, Lehman offered the outgoing Florida governor the consulting job. Bush had worked briefly at a Texas-based bank after college, but he lacked significant Wall Street experience.
Fortunately for Jeb, being a crony doesn’t take any real skill.
Most of the investment losses that hit Florida starting in July 2007 were tied to the Lehman mortgage-backed securities bought the year Bush began his employment at the firm.
* * *
For related articles, see:
How Jeb Bush’s Recent Speech Bashing Lobbyists Was Organized by Lobbyists
A Message to the Peasants – Jeb Bush Says Americans Need to Work Longer Hours
Jeb Bush’s Deep Love Affair with Lobbyists and Cronyism While Governor of Florida Exposed
Jeb Bush Doubles Down on His Love Affair with the NSA in Recent Interview
An Oligarch Dilemma – Recent Poll Shows 42% of Republican Primary Voters Couldn’t Support Jeb Bush
Jeb Bush Exposed Part 1 – His Top Advisors Will Be the Architects of His Brother’s Iraq War
Jeb Bush Exposed Part 2 – He Thinks Unconstitutional NSA Spying is “Hugely Important”
»
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For a family of Epsilon SM they seem to do OK?
Crony capitalism 101
http://www.planbeconomics.com/2015/05/david-stockman-against-crony-capit...
Capitalism is "free enterprise." There is none in the Banana Republic, none. Krony Das Kapital is more apt.
What do you think ’Das Kapital’ is about? Communism/socialism? Wrong.
It’s an analysis of the history of capitalism, the creation of surplus value, historical materialism and the capitalist mode of production.
One of the main thesis’ is that capitalism will creates it’s own demise – very much in the fashion we see today.
What most people fail to understand is that Marx was a huge supporter of capitalism. He knew it was a major progress from feudal societies mode of production. He was, however, not as blind as followers of capitalism today. He knew – from extensive studies of history – that nothing last forever. Therefore he tried to imagine what would/could (and in his more political works should) come next.
Many of the 9/11 hijackers roamed free as birds in South Florida while Jeb Bush was governor. Had someone else been Florida governor in 2001, maybe the FDLE [Florida Department of Law Enforcement] would have investigated the murder of Gus Boulis, who had been ripped off to the tune of $68 million by Jack Abramoff, George Bush's major fundraiser. When Boulis signaled his plans to file criminal charges against Abramoff, Abramoff made two payments totaling $250,000 to a Mafia capo for non-existent catering services. Boulis was gunned down in his car as he left an evening business meeting at his Ft. Lauderdale office. The police had video of the killers eating hamburgers at a nearby Wendy's before the drive-by shooting but nothing was done by Jeb Bush's FDLE, George Bush's FBI or the South Florida newspapers for over three years, until the Washington Post and Bill Moyers' NOW had stories on Abramoff's crooked activities. By then, Boulis's family had published the name of the mob capo who organized the murder in an online gambling magazine in October 2001. The MadCow website also had a story on how Florida police had stopped the killers several times as they were casing Boulis's office, but every time, the cops were told to let the guys go.
Note: Maybe, one of these days, the facts will come out as well on the Michael Hastings' murder.
GW, Cheney, Rumsfeld, Wolfowitz, U.S. Military top brass and various Mossad agents roamed free in Florida?
That's what he's saying. Also various Israeli prime ministers and presidents.
Wut, the jetliners were not holograms? ;-)
The three amigo's come to town, they are known as Dementia, Forest and Clueless.
imho THIS LITTLE DITTY needs to be emailed to Mr. Trump for the next up and coming televised debacle, debate..............and as always, FUCK YOU NSA!
Really backed the wrong horse there. Should have gone with Goldman. But I guess they did not need to offer $1.3 mil at that time where Leahman was already hiding impending failure.
SINCE LEHMAN !!!!
Please throat punch anyone who considers voting for him.
Iridium...... it's called a rabbit punch
America should drag his whole family out, try them for treason and hangem from the white house lawn..
Hell, make it an extended family affair, and give the Bushes company; Papa Doc Barack, the Clintons, shiiiit, the entire Legislative and Judiciary, and every political appointee in the Executive Branch. A mere 3,000 rendered would be akin to the Second Coming for the Republic.
Don't forget anyone named Kennedy. If your going to take the hireling's of the oligarch out, you're going to have to do it by family names. Then take out the oligarch's in a similar approach.
A mass hanging. Nice impact.
Hang the oligarchs first so the "career politicians" can watch their masters go first. Give them time to think about their crimes.
https://www.youtube.com/watch?v=M0nc0PS3_vg
We don't need to hang them. We can put them in orange jumpsuits in our version of Spandau Prison for the rest of their lives, like those Nazis after WWII.
Frankly I always liked L. Neil Smith's idea of renovating Alcatraz for just that purpose.
Ok, fine. But I don't volunteer to feed them, provide medical care, or any other service.
They'll have a tough month and I really couldn't give a shit.
Hangings too good for them, we need something more creative.
And FBI, fuck you.
Vlad the Impaler had some insights.
Um you mean like those Nazis we put in NASA? Or the ones we put in the CIA? Or the ones we helped hide out in Venezuela?
Or you mean like Mengele? http://www.theforbiddenknowledge.com/hardtruth/cisco_wheeler_interview.h...
Yeb!
#41
bleach bitchez..............
'There is nothing on this earth sexier, believe me, gentlemen, than a ROTHSCHILD/TRIBE BANKER you have to salute in the morning. Promote 'em all, I say, 'cause this is true: if you haven't gotten a blowjob from a WALL STREET BANKER, well, you're just letting the best in life pass you by. '
"But you have to ask me nicely Danny"!!
As a Floridian I'm always willing to prop up the pensions of my county's $85,000 a year, two day work week firefighters. Fuck.
Hey they "work" 48 hours in those two days.
Check the number of northeast police and fire "retirees" that come down and take the same jobs they had up north.
Jeb is just waiting it out. He's the CIA/NSA/MIC candidate and he has more money than Hillary. Don't be surprised if he wins.
Yep...probably with plenty of votes from flag waving Floridians simply because Jeb was 'their' governor and completely ignorant that he groomed them to be anally raped and they are now footing the bill.
'The greatest argument against democracy is a 5 minute conversation with the average voter.' Churchill.
Actually, Florida rapes the tourists that come down here.
In Florida there is no income tax and the state sales tax is 6%.
We do pay a bit more in gasoline tax but nothing like California.
We also have low property taxes.
The tourists are the one's primarily stuck with the bill and keep Floridians fat, dumb and happy.
Florida is no utopia, it's crime ridden, still hasn't really recovered economically from the 2008 collapse, and is the destination of a lot of 3rd world shitholes and Northeast assholes.
fee d to death- welcome campers, only 30/night to set up a tent on 10 x 10 peice of real estate with dogs barking and southern hospitality, ha lol...
They are both cia, Clinton's and Bush's were tied at the hip during Iran Contra
So, are you saying Jeb Bush is a conniving, plundering, theiving sack-of-shit carpetbagger?
Why am I not even mildly surprised?
And his brother's company ran security at the World Trade Center.
Let it Go Viral. Should make everyone sick. Guess Jeb was making his bed before leaving office.
Will Drudge run with this? Jeb is also closely involved with Planned Parenthood through Bloomberg.
So Jeb gets his $1 million + gig at Lehman. Makes a few calls to Florida's main pension plan. They buy $1.2 billion in mortgage backs (MBS) just before 2007.
Then the mortgage backs (MBS) blow up and take down Lehman with it.
The Florida pension plan has a $1 billion loss all due to Jeb's efforts?
The Clintons and Bushes are close friends and also largely CFR owned stooges of Rockefeller though Bush klan is a bit further up the Black Hand food chain.
The guy nukes the Florida pension plan for a staggering loss and he is running for President?
In a just country, Jeb Bush would be running for his life with a hanging party posse nipping at his heels.
Why isn't it happening?
Jerry Lewis, Representative, for areas of Southern California, had an encounter with some random asshole in my area at a "townhall meeting"TM. One guy got the microphone and asked, in 2008, "You said you had overwhelming citizen emails telling you to tell the banks to fuck off. Yet you voted for the bailout. Why shouldn't we hang you, right now, immediately, as a traitor to those who elected you as their representative? People, I've got rope in my truck and there's a street light outside. Anyone ready for this?"
No one stood up, though they all cheered.
Guess who that asshole was.
There's still too many asleep. An atom bomb won't wake them up.
[Thing about representatives is that, eventually, everyone knows their home address. Where their kids go to school, which spa they favor, what their office hours are when their in the district, when they normally come and go, what their likely routes are,..every representative is known intimately to the locals if they take just a moment to look it up.
And a lot of us consider losing office a non-excuse.
Fuck you FBI.
Now that was fucking awesome, you old fart. Do you reckon you'd have gone through with it if people stood up? It's something like that America needs to wake itself up.
Submited for consideration...
Just another sociopath (Bush) who lied and stole costing innocent people their hard-earned savings. Pilfering funds from savers is like putting a drop of poison into their coffee (or tea) every morning. It doesn't show up right away, but the cumulative effect is that they die sooner than they would have. THAT's why I call it lyin', stealin' and killin'. With no conscience nor empathy, that's the true mark of a sociopath. And that's seems to be what it takes to be a presidential candidate (of any party.)
Of course nobody has bothered to ask where those hundreds of millions of dollars went once they hit the Lehman office.
Obviously, like MFGlobal, those funds went into someone's pockets.
And, a measly 1.3 million for transferring over a billion to Lehman seems like pocket change.
If that's Jeb's idea of being a crony politian then he's either a stooge or not much of a greedy crook.
I have to wonder if good ole boy Jeb doesn't have an offshore account somewhere in the Caribbean with more than a few million from the deal stuffed to the rim.
Jeb Bush is a piece of shit.
http://hosted.ap.org/dynamic/stories/U/US_GOP_2016_BUSH?SITE=AP&SECTION=...
Couldn't we just say he stinks... Seriously, would it not assist our cause to be somewhat cordial - or are y'all just really pissed off!
In the fight for getting my freedoms back, there's no place for cordial. Entire Bush family is corrupt the the core, starting with the prior Prescott Bush, through CIA daddy, curious George, and blowJeb Boosh, with the younger Prescott taking the sociopath batters box.
FUCK'EM ALL!
Don't firget to take a quick look at least into that Walker side, the one into which Prescott married.
Well aware of the Walker/Bush connection, but always good to point out the incestuous nature of scum.
Or just rest your gaze for a moment on Mr. Prescott Bush himself: https://www.youtube.com/watch?v=hTdx6vEUtIA.
It seems his plan are coming to fruition.
I mentally vomited when I read this last night. I can't tell you how effing hostile I've become to these fascist-socialists. Maybe Iran will grant my wish during the SOTUS in downtown DC. BTW, fuck you in the ass NSA/DHS.
My fervent dream is a nuke delivered on Whoreingotn DC in the midst of the SOTU speech. With a few others delivered in the bunkers around the area.
I have no sympathy to the loss of life, I welcome it. Everyone lost is a step to freedom.
I hope China/Russia recognize the discontent, and nuke the IRS centers, Federal Reserve Buildings, and pretty much every other federal beuraucratic agency in every town.
When the Chinese/Russians arrive, I'll give them a map to Wash, DC, a couple gallons of gas, and treat their wounded. We have to kill our government. There is no other alternative.
Shows Bush as Coached clearly.
A groomed puppet, corporate candidate.
Jeb will lie to get elected and deal and collude with all powers as if he was military or former military.
When the powers that be are so great... we conform like Jeb Bush.
JEB. The colluder.
Correction: Jeb Bush is a *POSER (versus a **POSED).
*POSER—Pile Of Stinkin' Excrement Republican
**POSED—Pile Of Stinkin' Excrement Democrat
Can we highlight this article in BLUE please and keep it up top for 24 hours.
Tyler Durden's, you have a legitimate request.
Now if only the MSM figure this out before 2018...
I'm adding a feet first option to my guillotine.
Zion is a scheme, not an ethnicity.
You need to modernize to a woodchipper, would be interesting to see what grows in sociopath mulch.
Have you ever shoveled flesh?
It's the most disgusting thing to do ever.
While I like the idea of a woodchipper, the results, if you've ever had to do it, are revolting to everyone involved.
That's why my preference is a guillotine or a simple 'shot on a wall''.
Less gore, body can be identified (unlike Obama's claim of Osama), and there's a lot less puking.
Trust me on this.
The Obama Osama story is so far fetched it really exposed how owned the mainstream media is. I mean really you have to be mentally retarded to buy that line of bullshit.
I know a neighbor here, a guy, more like Tony Soprano than Ward Cleaver, from a big east coast city.
His idea of using the wood chipper is to mount it to a boat, take it it out in the bay, do your thing, then overboard with chipper.
No fuss, no muss.
And no shoveling of flesh required.
They call it "chumming the water."
Well this is a guy from the family that had Kennedy assassinated. This is the guy from the family who knew the Hincklys, when George was Vice and Regan was shot by a Hinckly, this is a guy from the family that has significant ownership in the Carlye Group (a defence contractor) as do the Bin Ladens, and had George meeting with the Bin Ladens on the morning of 911.
And on and on and on I could go.... so are we really surprised by his crooney capitalism and do we really actually care?
Because if all we are capable of, when they assassinate a President, and profit from wars they start and steal and lie and corrupt us, is pissing and moaning in the comments section of one site or another, then frankly they have won, and we deserve everything thats about to happen to us.
... so are we really surprised by his crooney capitalism and do we really actually care?
They say that Bing Crosby was part of this gang also.
Grand father's bank supported the nazis and was convicted. Part of the coup against FDR, ( see Smedly Butler).
Oh and hinkley's brother had dinner with another bush brother night before assignation attempt.
Union Bank.
http://cluesforum.info/viewtopic.php?f=29&t=1438 4/5 down
Brady shot, looks fake, 1st of fake shootings for gun control...Brady is able to do a pushup with bullet in forehead
Do a google search for "planchet reagan"
Bush / Clinton / Kennedy / etc
US oligarch train has no break
let's go back to the "real" threat : Putin !
I always hated the Kennedys. After what JFK tried to do with silver backed currency, taking on the Fed, deciding against the Vietnam War and smashing the See Eye Aye - I realized that JFK may have been the real deal.
He gave them a lot of reasons why they killed him.
Yeah and Reagan's Alzheimers? Prion. Then Poppy pushes through a mini amnesty and blames incapacitated Reagan.
Reagan never trusted the Bush family. Want to see why poppy wanted to get even?
https://www.youtube.com/watch?v=OO2_49TycdE
He was beaten and humiliated. three decades they have conned conservatives pretending that Poppy then GW were the heirs to Reagan. Evil evil people.
The non stop pissing and moaning is precisely what got me to wake-up. So keep pissing and moaning.
Ok roodee you take your just deserts and run with them. I'm generous, take mine too.
No not really. I (we) don't deserve betrayal. You can adopt it for your own dam self but don't speak for me or we the masses. We DON'T deserve this shit, never have and never will. Don't fall into the psych paradigm of accepting the bullshit of accepting a longstanding pc term. It's pathetic as we deserve better. Got it! We deserve better and it's about God damned time we all speak up that we deserve better because you Hillary and you Jeb and you Ben Carlson and you Huckabee muthafuggaz can all kiss our collective asses because WE DESERVE BETTER!
Jeb - go get a job advising Goldman and JPM where to invest their money!
Buy Gold, Silver, Platinum and Palladium with Bitcoin, Litecoin, multiple other cryptocurrencies and bank wire!!
https://www.eurgold.eu
NO!
You take federal reserve dollars and convert them into real, in your hand, hard money, such as gold, silver, platinum and palladuim. You don't pass your money through an unreliable third party. You convert cash to real money that you immediately hold.
They gave Kasich the same deal, same year.
What's this, this fund report zero or negative outlays from 2009 - 2014:
Update for July 2015:
-
2015 Exchange Stabilization Fund= $9 Million
2015 Grant Specified Energy Property Lieu Tax Credit= $1.6 B
2015 Housing and Economic Recovery Programs= $176 Million
2015 Troubled Asset Relief Programs=$3.3 Billion(yes, still going on as boondoggle)
What does it mean that all of a sudden in 2015 they are spending Exchange Stabilization Funds...?
Could be we are in unstable times??
From my post here:
http://www.zerohedge.com/news/2015-08-19/it-begins-hillary-trumpd-donald... (Best to crunch numbers if you drink...)
not this one:
http://www.zerohedge.com/news/2015-08-19/us-military-leaders-support-ira...
Uh oh, ZH has been hacked! 3 of the top 5 articles are american public servant contest stories. When does that circus go down again? 15 months from now? BTW I thought the general consensus here was that IT'S THE ILLUSION OF CHOICE!
Just because I don't care who wins, doesn't mean I can't be entertained by the game. I got to get something out of it, because it most assuredly will not be competent representitive government.
#41
The last thing "they" want is someone that can think, lead and has a shred of nationalism as president. It goes against the NWO world government plan, if Trump isn't a phoney his deportation of the illegals plan will probably get him killed.
Without reading too many articles:
The biggest Threat might be skimming of credit cards/bank cards, and hacking of personal banking records...
1) Of coures the Master Card, Discover Card, Bank of Ameri Card, Dinners Club... you don't hear crap from them about Risk since the risk is not on their Corporation... it is on YOU
2) Hacking and ID Theft Crime only Threatens you, your Time, your Sanity, your Mental Health, your Citizenship, your participation in the Community, your perfect loyalty to your boss, your perfect work record...
3) What is crisis or important to TBTF Banks... is not your real issues or concerns... Your risk is to career... you can lose 10 years of earnings and reputation which allows the corporation to cancel your pension benefits, and retirement liability... nice right if you are a private executive...
Who supports the US Middle Class, who defends your reputation, who will fight for you and your lifestyle... man, we have no idea!!!
http://www.zerohedge.com/news/2015-08-19/there-no-other-end-bad-one-its-... (Nice Graphs and Analysis)
Edit: OK, yes. If your bank goes down your money is at risk as they all say here on ZH... you could lose to default/bankruptcy or to Bail-In.
In India Jeb means 'Pocket'.
Pocket the money, fcuk America, fcuk the whole world.
YAY !! YAY!! i'M HERE SLUTZS ALL YOU MAGGOTS WILL PAY FOR YOUR SLOPPY ASSES
There's absolutely nothing to see here. Who in hell doesn't know that the Guberm't isn't absolutely corroupt? Why even write about it? Give us some information that we don't already know!
ARE YOU an NSA working drone???!!
THEN vote for BUSH!!
All OTHERS (humans preffered) vote for SOMEONE ELSE!!!
Seems Jeb and Hillary should be on the same ticket!
Yeah, a one way ticket to jail, do not pass go, do not collect anything but an orange pantsuit.
And everybody here in Florida says "but he was a good governor". When I ask people what he did he do that was so good, I get a blank look and silence followed sometimes by "because the hurricanes". Since the hurricanes that hit in 2005 didn't wash the state completely into the sea, that means Jeb was a "good governor".
what is necessarily bad about a governor not doing anything? maybe that is better than an active one who works to enhance government's grip on us all. i know nothing about jeb and what he has or has not done.
A good governor would lower taxes, cut energy cost, over all create an environment for business to grow, over all increase your standard of living. If that didn't happen he made you poorer and sucked.
agree with the first part, but if he did the opposite by raising taxes and instituting regulation he would suck. you could have a "do no harm" mediocre governor, can't you?
Jeb! He's the smart one!
'Jeb' what's in a name? My take is that the Bush family has even less class than those who spell John, 'Jon'
Smarmy limp wristed prick. Fuck him
Jeb looks like that incompetent 1st grade teacher you had to suffer through. JEB IS JUNK!....
As long as he and people like him continue to breathe Americans can forget going to any kingdom of God after death, especially those with children. Economic violence is violence and it kills people. Letting people impoverish you and take food from your mouth and your children's mouths is suicide, and no Christian, Muslim, or Jew can get into heaven after committing suicide. Doing nothing to stop these people is suicide. If your beliefs about the origins of humanity are more along the lines of the movie Prometheus, it's still the same. Any race that put us on this rock is not going to be interested in the coward fool lemmings going over the cliff, but rather the few who got them all to do it.
The only slaves in heaven are Spartacus and Nat Turner and the like. Let these people live, and have fun in hell.
1 in 10,000 Americans will ever find out about this choice tidbit of corruption. IF any of his supporters found out, it wouldn't make a dent on their glazed and empty expression. Thanks to the MSM being bought and paid for as the propaganda arm of government.
same as it ever was...and yet so many still believe there is a political solution to this global economical shit show
The whole thing has turned into a Mafia Don selection process. .. Expect turf war restaurant mob hits any day now.
Stop the world! ….I want to get off.
(I know, that’s not my line but my mother used to use it on us kids when we were being incorrigible. I have no idea where she heard it.)
~ DC
I guess corruption in this case runs in the family
Lehman's Gift To Jeb Bush For Funneling Pension Money: A $1.3 Million Consulting "Job"I would have done it for $1,25 million.
https://www.washingtonpost.com/news/post-politics/wp/2014/04/06/jeb-bush...
If Jeb becomes POTUS, will there be "Love Amnesty" Drives every election?
With jobs being shipped out as well, the only ones benefitting are the Rentiers loaning out the Capital.