Wednesday, May 12, 2010

John Kasich: Haunted by Lehman Brothers

The Columbus Dispatch has become the newspaper of record in its coverage of this year's Ohio political campaigns. Last week it reported the Republican Senatorial Committee internet ad that showed a bare-chested Lee Fisher, with a strong implication that he was turning his lower torso into a playground. And today's paper reported that John Kasich, the Republican gubernatorial candidate, had "tried to persuade two state pension funds in 2002 to invest with Lehman Brothers," the now belly-up investment bank, while he was on Lehman's payroll as its managing director in Columbus.

It identified the funds as the Ohio Police and Fire Pension Fund and the Ohio Public Employees Retirement System. Fortunately for them, they didn't take the bait. Had they entered a deal with Lehman, they would have lost many millions of dollars. A Kasich spokesman has shrugged off his candidate's role in all of this, saying only that he arranged some meetings with other Lehman representatives and vanished from the scene.

Whatever Kasich's involvement, it's now quite evident that Gov. Strickland's reelection campaign will raise Lehman from its bankrupt burial site on Wall Street to haunt Kasich throughout the remainder of the campaign. That's one haunt where your investment would be safe.

1 comment:

Anonymous said...

As a state employee, invested in the Ohio Public Employee Retirement System, I'm always interested in what happens to my pension. A few years ago, during the Taft administration, OPERS invested heavily in ENRON. We know how well that ended. I hope to God Lehman Brothers follows Kasich for the rest of his political life