According to a new report from the International Business Times, Jeb Bush cashed in big time by handing over the pension funds of Florida’s public employees to a bank that went bankrupt in the economic collapse.
The Times reports that Jeb Bush, while governor of Florida, directed more than $250 million worth of public employee pension funds – pensions from teachers, police, and firefighters among others – into accounts managed by Lehman Brothers. Governor Bush soon after directed $1.2 billion worth of public funds to the bank to manage. When the economy crashed, the bank lost more than $1 billion worth of Florida taxpayer money and retirement funds.
Ring of Fire’s Farron Cousins discusses this.
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