John Kasich Says His Time at Lehman Brothers Helped Him Understand How Business Works

[AnybodyButaDem]

By "works," I assume he means "fail," since he earned millions as a managing director at Lehman with zero experience in the field, and even took a $500k bonus the year he helped "lead" them to the working success of bankruptcy along with bilking taxpayers and creditors.  His big payday in the private sector and it's a learning experience for him as he made millions as small businesses lost their shirts.

What a joke.

“I learned how entrepreneurs worked; I learned how boards of directors think.”

http://www.bloomberg.com/politics/articles/2015-07-22/john-kasich-says-his-time-at-lehman-brothers-helped-him-understand-how-business-works

At one point during his first event in New Hampshire after announcing he was running for president, John Kasich turned to the cameras in the room just to make sure his point wasn't missed.

"I learned a lot about the way America works when I worked at Lehman Brothers,'' Kasich said to the cameras gathered at a town hall meeting at Rivier University in Nashua.

Kasich, 63, the two-term Ohio governor, who on Tuesday became the 16th Republican to jump into the presidential race, was responding to criticisms from Democrats that his stint as a managing director in investment banking at Lehman Brothers Holdings Inc. is a black mark against his candidacy.

“I learned how entrepreneurs worked; I learned how boards of directors think.”

Democrats have criticized Kasich and former Florida Governor Jeb Bush, who also worked for Lehman Brothers, as profiting from Wall Street while the firm collapsed in 2008 and ushered in the worst recession since the Great Depression.

"He couldn’t be more out of touch with the millions of Americans who struggled to make ends meet after the financial meltdown,'' U.S. Representative Tim Ryan, a Democrat from Ohio, said of Kasich in a blog posting for The Hill.
 
"The last thing we need in a president is the Lehman Brothers approach to America,'' TJ Helmstetter, Midwest press secretary for the Democratic National Committee, said in a statement after Kasich's comment in Nashua.

Kasich made it clear that he'll continue talking about his business experience on the campaign trail because he met people including the founders of Google and learned what it takes to create jobs.

"I learned how entrepreneurs worked; I learned how boards of directors think,'' Kasich said in Nashua. "If you want to rebuild this economy, you better have somebody elected that understands the economic situation in this country and what makes businesses invest.''

Kasich's former colleagues at Lehman have described him as a facilitator, forging relationships and working with Lehman teams on initial public offerings, debt offerings and other deals in areas including manufacturing, media and technology.

Kasich is spending the next two days in New Hampshire as part of his presidential campaign roll-out, followed by trips to Iowa, South Carolina and Michigan.

While New Hampshire is particularly attractive for Kasich because his record appeals to fiscal conservatives there, the governor will also campaign in the other early-voting states, said John Weaver, his chief strategist.

"We're going to compete in every state,'' Weaver said in an interview before Kasich's announcement in Columbus. "Our goal is really to be disciplined enough not to get between he and the voters.''

While Kasich's decision to expand Medicaid and his positions on immigration and the Common Core education standards don't endear him to some conservatives in Iowa, he can get support among Republicans there once voters hear from him, said Mary Ann Hanusa, an Iowa state representative from Council Bluffs. She accompanied Kasich on a June 24 trip to Iowa and traveled to Columbus for his announcement.

"He's going to play in Iowa,'' Hanusa said. "Iowa conservatives are not a monolithic bloc.''
Kasich, who has been languishing at about 2 percent in recent polls, has been airing televisions ads in New Hampshire in advance of his presidential announcement with hopes of polling high enough to be one of the 10 candidates included in the first Republican presidential debate Aug. 6 in Cleveland.

The ads were paid for by New Day for America, a 527 organization supporting Kasich's presidential bid that will soon file with the Federal Elections Commission as a super-PAC, New Day spokesman Matt David said.

Kasich acknowledged in response to a question in Nashua about the campaign finance system that he won't have as much money as other candidates "but hopefully, I'll have enough.''

[Frank Cannon]

All of this is irrelevant. Kasich is finished. He will be lucky to squeeze out a VP slot if anything and that is just because he happens to be a geographical choice.

[truth_seeker]

The revolving door between politicians, lobbyists, crony capitalists.

Note he served in Congress, including finance rolls, BEFORE he went to Lehmann 'Bros. and "learned" about business.

And he was paid around $1 million per year at Lehmann, BEFORE he knew about business.

[Frank Cannon]

The revolving door between politicians, lobbyists, crony capitalists.

Note he served in Congress, including finance rolls, BEFORE he went to Lehmann 'Bros. and "learned" about business.

And he was paid around $1 million per year at Lehmann, BEFORE he knew about business.

He hasn't had a real job since 1983 when he was elected to congress. I may be wrong, but that is 33 years of being tuned out of reality.

[AnybodyButaDem]

Exactly why is Kasich still in the race?  He has zero shot at even getting into second at this point, and he's just wasting other people's money at this point.

  I think I know why.  I'd like to hear the opinions of others. 

[AnybodyButaDem]

The revolving door between politicians, lobbyists, crony capitalists.

Note he served in Congress, including finance rolls, BEFORE he went to Lehmann 'Bros. and "learned" about business.

And he was paid around $1 million per year at Lehmann, BEFORE he knew about business.

He was the highest-paid 8-year intern in Lehman history.  Hey, but he learned something!  Like how to make millions in a job he was completely unqualified to hold while having taxpayers bail him out and small business creditors get the shaft.

[truth_seeker]

He was the highest-paid 8-year intern in Lehman history.  He, but he learned something!  Like how to make millions in a job he was completely unqualified to hold while having taxpayers bail him out and small business creditors get the shaft.

Local government entities from schools, water, trash, cities, counties and states have to retire and replace debt instruments continuously.

Each debt instrument requires lawyers, accountants, securities brokers, rating agencies. Guys like Kasich while at Lehman are "rainmakers" to gain their share of such business.

Everybody gets a piece of this lucrative, ongoing business. Then there are contracts for various types of services all u and down the food chain.

[AnybodyButaDem]

Local government entities from schools, water, trash, cities, counties and states have to retire and replace debt instruments continuously.

Each debt instrument requires lawyers, accountants, securities brokers, rating agencies. Guys like Kasich while at Lehman are "rainmakers" to gain their share of such business.

Everybody gets a piece of this lucrative, ongoing business. Then there are contracts for various types of services all u and down the food chain.

Well put.  If you don't mind my summarizing to make sure I got it, Kasich fully realized his market value while on the other side of the fence.  Crony capitalism at its worst is what it is.   But hey Trump uses tax credits to build gigantic buildings.

[AnybodyButaDem]

Nobody else has a commentary on Kasich's highly-paid failed internship that he "earned" via kickbacks from his days in Congress? 

Man if Trump is a disaster, get a load of this Kasich grifter!  Talk about stealing money!

[Jazzhead]

Exactly why is Kasich still in the race? 

Because he can win.  And because there are still a few of us that value real, pragmatic leadership and experience.   

I'm sticking with the conservative who can win as long as I can.  If I must, I'll support Cruz, the conservative who likely can't win.  I'll never support Trump, and if nominated will move heaven and earth to see to his defeat.   

[AnybodyButaDem]

Because he can win.  And because there are still a few of us that value real, pragmatic leadership and experience.   

I'm sticking with the conservative who can win as long as I can.  If I must, I'll support Cruz, the conservative who likely can't win.  I'll never support Trump, and if nominated will move heaven and earth to see to his defeat.   

You mean leadership like being an underqualified Managing Director of a failed Too Big To Fail Wall Street business?

Hey, Kasich f**ked over the Little Guy, but he got PAID!! 

Yes, that's some leadership.  I'll hold my nose and vote for the dud if the GOPe steals him the nomination, but there are millions more who won't do the same.

People like you would seem to prefer Hillary or Sanders over an outsider, anyhow.  No difference between Hillary and Kasich, other than Kasich has even closer ties to Wall Street and screwing over creditors for personal gain.

[sinkspur]

You mean leadership like being an underqualified Managing Director of a failed Too Big To Fail Wall Street business?

Hey, Kasich f**ked over the Little Guy, but he got PAID!! 

Yes, that's some leadership.  I'll hold my nose and vote for the dud if the GOPe steals him the nomination, but there are millions more who won't do the same.

People like you would seem to prefer Hillary or Sanders over an outsider, anyhow.  No difference between Hillary and Kasich, other than Kasich has even closer ties to Wall Street and screwing over creditors for personal gain.

Since you're such an ardent defender of Trump, I suggest you look at the latest very comprehensive poll: 

http://www.gopbriefingroom.com/index.php/topic,202141.0.html

Kasich is the only one who consistently beats Hillary in polls.  He likely can't win the nomination, so the burr you have under your saddle about him is puzzling. 

I would happily vote for Kasich, less happily for Cruz, never for Trump.

[AnybodyButaDem]

Since you're such an ardent defender of Trump, I suggest you look at the latest very comprehensive poll: 

http://www.gopbriefingroom.com/index.php/topic,202141.0.html

Kasich is the only one who consistently beats Hillary in polls.  He likely can't win the nomination, so the burr you have under your saddle about him is puzzling. 

I would happily vote for Kasich, less happily for Cruz, never for Trump.

Is it normal to not at all address the actual topic of the threads here.  Kasich helped drive Lehman Brothers into bankruptcy while enriching himself, and he brags about that as a good experience.

I don't care about polls so why are you posting them to me?  Kasich will get his ass kicked just like McCain and Romney got their asses kicked when we were told they would win, too.  Kasich is running to the left of Bill Clinton in both 1992 and 1996, and you think he can win as a Republican?

[Jazzhead]

People like you would seem to prefer Hillary or Sanders over an outsider, anyhow.  No difference between Hillary and Kasich, other than Kasich has even closer ties to Wall Street and screwing over creditors for personal gain.

That's such bullsh!t.   I don't prefer Hillary over anyone, except that proto-fascist, sexist, racialist, megalomaniacal  bully-boy Trump.  In that case, she'd be the lesser of two evils. 

Kasich's conservative credentials and experience are of long standing public record.  I support him on the merits, and not just because he can win.   And he had nothing whatsoever to do with Lehman Brothers' fall.  That's just your idiot charge made in service to your idiot candidate.   

"People like you" prefer Hillary - your support of Trump ensures her election.   

[AnybodyButaDem]

That's such bullsh!t.   I don't prefer Hillary over anyone, except that proto-fascist, sexist, racialist, megalomaniacal  bully-boy Trump.  In that case, she'd be the lesser of two evils. 

Kasich's conservative credentials and experience are of long standing public record.  I support him on the merits, and not just because he can win.   And he had nothing whatsoever to do with Lehman Brothers' fall.  That's just your idiot charge made in service to your idiot candidate.   

"People like you" prefer Hillary - your support of Trump ensures her election.

I don't support Trump.  Anybody who would prefer Hillary for President over anyone to the right of her is no conservative in my book.

Now call me an idiot again since you and others here obviously can't actual engage in anything deeper than insulting posters who don't agree with you.  That seems to be your wheelhouse, and if Kasich had nothing to do with Lehman, why did he take millions of dollars from them as they collapsed?  Is that the "leadership" you speak of, Jazzhead?  Showering in Wall Street money as the Little Guy loses his shirt?  What a leader!

[libertybele]

That's such bullsh!t.   I don't prefer Hillary over anyone, except that proto-fascist, sexist, racialist, megalomaniacal  bully-boy Trump.  In that case, she'd be the lesser of two evils. 

Kasich's conservative credentials and experience are of long standing public record.  I support him on the merits, and not just because he can win.   And he had nothing whatsoever to do with Lehman Brothers' fall.  That's just your idiot charge made in service to your idiot candidate.   

"People like you" prefer Hillary - your support of Trump ensures her election.

Jazz -- first of all it is NOT acceptable to name call.  Secondly, I'm still trying to understand how you see Kasich as a conservative.  He has  long standing records of pandering to the left.  I for one find his tenure with Lehman brothers as a real negative.

[Mod1]

Enough of the terms like 'idiot'

And reign in the profanity!

[AnybodyButaDem]

Jazz -- first of all it is NOT acceptable to name call.  Secondly, I'm still trying to understand how you see Kasich as a conservative.  He has  long standing records of pandering to the left.  I for one find his tenure with Lehman brothers as a real negative.

From my brief time here, you aren't going to get answer to this question.

Jazzhead calling Kasich a conservative is laughable for any true conservative to read.

[AnybodyButaDem]

And he had nothing whatsoever to do with Lehman Brothers' fall. That's just your idiot charge made in service to your idiot candidate.   

Then what the heck did he do as a Managing Director to deserve a million dollars a year for 8 years?  Fetch coffee while his former donors were bankrupting the company?

[truth_seeker]

Fact: Jazzhead HAS stated he would vote for Hillary.

*This is a public service announcement, so other members here know exactly the mentality they are dealing with.

[AnybodyButaDem]

Fact: Jazzhead HAS stated he would vote for Hillary.

*This is a public service announcement, so other members here know exactly the mentality they are dealing with.

Well he also thinks Kasich is a conservative, so I believe it.  He can't say how Kasich is a conservative, so maybe he thinks just calling someone a conservative means they are a conservative?

[Jazzhead]

Fact: Jazzhead HAS stated he would vote for Hillary.

*This is a public service announcement, so other members here know exactly the mentality they are dealing with.

That's dishonest,  T_S, and you should know that.   I support Kasich precisely because he is the one candidate that CAN defeat Clinton.   You support Trump, who will lose in a landslide to Clinton.

So, to summarize for those of you in Rio Linda:  the candidate I support will, based on available evidence, lead to a GOP victory, and the candidate that you, T_S, support will, based on available evidence, lead to a Democratic victory.

So why do you persist in your dishonest attacks?   

If you'd like to engage in debate regarding why Trump is absolutely unacceptable to me, then have at it.   But you're the one effectively working for Hillary, not me.   

[AnybodyButaDem]

That's dishonest,  T_S, and you should know that.   I support Kasich precisely because he is the one candidate that CAN defeat Clinton.   You support Trump, who will lose in a landslide to Clinton.

So, to summarize for those of you in Rio Linda:  the candidate I support will, based on available evidence, lead to a GOP victory, and the candidate that you, T_S, support will, based on available evidence, lead to a Democratic victory.

So why do you persist in your dishonest attacks?   

If you'd like to engage in debate regarding why Trump is absolutely unacceptable to me, then have at it.   But you're the one effectively working for Hillary, not me.

So who is lying here?  Did you post you would vote for Hillary?

Also, what makes Kasich "conservative?"

[Jazzhead]

I'm voting for Kasich.  Who are you voting for?   

[AnybodyButaDem]

I'm voting for Kasich.  Who are you voting for?

Cruz or Trump.  Certainly not the liberal and bought-and-paid-for Kasich who did nothing to earn millions while presiding over the bankruptcy of Lehman Brothers.

Since you can't answer a simple yes/no question, I'll assume that truth_seeker was telling the truth about you saying you'd voter for Hillary.  Hell you're voting for Hillary Lite in the GOP primary.