Wednesday, May 12, 2010

Just as we thought...

It looks like Republican John Kasich did in fact use his influence to get Ohio pension funds to invest with Lehman Brothers. Whether Kasich did the actual investing or made the introductions, he used his familiarity and trust to open the door.

Dispatch:

Republican gubernatorial candidate John Kasich tried to persuade two state pension funds in 2002 to invest with Lehman Brothers while he was the managing director of the investment banking house's Columbus office.

In a reply to questions from The Dispatch, Kasich campaign officials acknowledged that the former congressman helped arrange the two meetings between Lehman officials and representatives of the Ohio Police and Fire Pension Fund and the Ohio Public Employees Retirement System, known as OPERS.....

You can read the rest of the article. Obviously, Ohio's public employees and teachers will not be happy.