Preview Newsletter
Lehman Oct 29
-
Ben Bernanke Cautions on Emerging Markets
Oct 28, 2015 | The New York Times
By Anita Raghavan
...During his remarks, Mr. Bernanke sought to dispel a perception that the Fed and other policy makers made a conscious decision to let Lehman Brothers fail. Even today, nearly a decade after the financial crisis, the view still persists among some... -
GOP Debate 2015: Trump, Kasich Spar Over Lehman Connections, Tax Plan
Oct 28, 2015 | International Business Times
By Jackie Salo
...Trump also attacked Kasich's tenure with Lehman Brothers, telling the audience that Ohio governor was a managing general partner at the financial services firm -- a claim Kasich refuted. "I was a banker, and I was proud of it, and I traveled the country and learned how people make jobs," Kasich said... -
Watch: Trump, Kasich Spar Over Taxes, Lehman Brothers
Oct 28, 2015 | Breitbart
By Ian Hanchett
...Number two, this was the man that was a managing general partner at Lehman Brothers, when it went down the tubes, and almost took every one of us with [it], including Ben and myself. Because I was there, and I watched what happened, and Lehman Brothers started it all... -
If Ohio Gov. John Kasich Were President, Here's What the U.S. Economy Would Look Like
Oct 28, 2015 | The Street
By James Passeri
...While Kasich's resume is impressive, no candidate's record is immune to criticism, especially in matters of finance. Along with the political experience, Kasich's includes an eight-year stint as managing director of investment banking at the Ohio office of Lehman Brothers following his departure from the House of Representatives. ..
Client Attorney Privileged/Attorney Work Product/At Request of Counsel
Comment - Bernanke
Comment - John Kasich
Full Text of Stories Below
-
Ben Bernanke Cautions on Emerging Markets
Oct 28, 2015 | The New York Times
By Anita Raghavan
Ben S. Bernanke, former chairman of the Federal Reserve, told an audience at the London School of Economics on Wednesday evening that emerging markets represented the one risk to financial stability today.
...Many Wall Street investment banks had derivatives contracts and other securities that were tied to subprime mortgages, making the systemic risk arising from a subprime crisis far greater than was apparent at first.
During his remarks, Mr. Bernanke sought to dispel a perception that the Fed and other policy makers made a conscious decision to let Lehman Brothers fail. Even today, nearly a decade after the financial crisis, the view still persists among some.
“The tools we had were inadequate” to save Lehman, Mr. Bernanke said. Early efforts to line up a buyer for Lehman – first Bank of America and then the British bank Barclays — failed. The only remaining option was for the Fed to lend Lehman money. But Mr. Bernanke said that Lehman was “so deeply in the red” that the Fed did not have the financial muscle to bail it out.
Before Mr. Bernanke became Fed chairman, he was well known in academic circles but was not a household name. During his talk, he recalled that his daughter, Alyssa, was starting college the fall after he took the job as Fed chairman. One day, Alyssa’s roommate asked her what her father did. When Alyssa replied that her father was the chairman of the Federal Reserve, her roommate’s jaw dropped as she declared: “Your father is Alan Greenspan.”
Today, Mr. Bernanke is known around the globe and has many legacies, including, he noted, a highway “exit in South Carolina.”
For full story: http://www.nytimes.com/2015/10/29/business/dealbook/ben-bernanke-cautions-on-emerging-markets.html
-
GOP Debate 2015: Trump, Kasich Spar Over Lehman Connections, Tax Plan
Oct 28, 2015 | International Business Times
By Jackie Salo
Touting his success creating jobs in his home state, Ohio Gov. John Kasich tried to push his tax plan at the third Republican primary debate Wednesday, but businessman Donald Trump would not stand by and listen. Sparring with Kasich, Trump wrote off Ohio's economic growth as a lucky break.
...Trump also attacked Kasich's tenure with Lehman Brothers, telling the audience that Ohio governor was a managing general partner at the financial services firm -- a claim Kasich refuted. "I was a banker, and I was proud of it, and I traveled the country and learned how people make jobs," Kasich said.
Kasich did have a relationship with Lehman Brothers. An International Business Times report found that Kasich received considerable paychecks from the firm, even though he was not registered as a lobbyist for Lehman Brothers.
A campaign spokesman said Kasich “was in the investment banking division” and “worked as part of coverage teams across a variety of sectors” on mergers and acquisitions, initial public offerings and other financial deals...
For full story: http://www.ibtimes.com/gop-debate-2015-trump-kasich-spar-over-lehman-connections-tax-plan-2159183
-
Watch: Trump, Kasich Spar Over Taxes, Lehman Brothers
Oct 28, 2015 | Breitbart
By Ian Hanchett
Republican presidential candidates Donald Trump and Ohio Governor John Kasich got into a confrontation over taxes and Kasich’s time at Lehman Brothers at Wednesday’s Republican part two presidential debate on CNBC.
...Trump responded, “First of all, john got lucky with a thing called fracking, okay? He hit oil, he got lucky with fracking, believe me, that’s why Ohio is doing well. And that’s important for you to know. Number two, this was the man that was a managing general partner at Lehman Brothers, when it went down the tubes, and almost took every one of us with [it], including Ben and myself. Because I was there, and I watched what happened, and Lehman Brothers started it all. He was on the board, and he was a managing general partner. And just thirdly, he was so nice, he was such a nice guy. And he said, oh, I’m never going to attack, but then his poll numbers tanked. He’s got very — that’s why he’s on the end ,and he got nasty. So, you know what? You can have him.
Kasich answered, “First of all, Ohio does have an energy industry, but we’re diversified. We’re one of the fastest growing states in the country. We came back from the dead, and you know what? it works very, very well. And secondly, when you talk about me being on the board of Lehman Brothers. I wasn’t on the board of Lehman Brothers. I was a banker, and I was proud of it, and I traveled around the country and learned how people make jobs. We ought to have politicians, who not only have government experience, but know how the CEOs and the job creators work. My state is doing great across the board. And guess what? In 2011, I got a deal, an agreement with Ford, and he tried to take credit for it four years later. It’s a joke.”
For full story: http://www.breitbart.com/video/2015/10/28/watch-trump-kasich-spar-over-taxes-lehman-brothers/
-
If Ohio Gov. John Kasich Were President, Here's What the U.S. Economy Would Look Like
Oct 28, 2015 | The Street
By James Passeri
...Lehman Brothers
While Kasich's resume is impressive, no candidate's record is immune to criticism, especially in matters of finance. Along with the political experience, Kasich's includes an eight-year stint as managing director of investment banking at the Ohio office of Lehman Brothers following his departure from the House of Representatives.
Lehman became a byword for financial industry excesses after its 2008 bankruptcy during the collapse of the subprime mortgage market precipitated a global credit crisis. To be sure, Kasich's Republican rival, Jeb Bush, also held a position at the bank after completing two terms as Florida's governor.
Those are experiences both candidates are likely to be questioned about further as the campaign progresses.
In April, however, the Ohio governor brushed off a question about the ill-fated firm during an interview on NBC's Meet the Press. "That's past history," he said. "Wall Street is necessary because it helps move the financial operations of America forward. But I'll tell you the problem with Wall Street: It's too much about, 'I've got to make money.' There's too much greed."
On the upside, Kasich says, his tenure at Lehman was a learning experience, particularly because it helped him to better understand the developing tech world.
"The greatest thing I got from Lehman is I spent a lot of time in Silicon Valley," he said. "And you know, when I went out there, I could see the future. And that's what we have to be about in America, bringing ourselves together, innovating, you know, in terms of innovation and vision."...
For full story: http://www.thestreet.com/story/13336525/1/if-ohio-gov-john-kasich-were-president-here-s-what-the-u-s-economy-would-look-like.html
Client Attorney Privileged/Attorney Work Product/At Request of Counsel
Comment - Bernanke
Comment - John Kasich
Full Text of Stories Below
Add recipients
Suggested