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Jeb Bushes pay back to the biggest contributors of his brothers candidacy

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jbander

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He funnelled 2 billion dollars to them from the Florida pension fund.

"Blackstone Group: Donated $99,000, received $150 million

Carlyle Group: Donated $69,000, received $275 million

Deutsche Bank: Donated $200,000, received $450 million

Freeman Spogli: Donated $743,000, received $50 million

Goldman Sachs: Donated $1.5 million, received $150 million

Hicks Muse: Donated $189,000, received $25 million

J.P. Morgan Chase: Donated $64,000, received $100 million

Lehman Brothers: Donated $499,000, received $175 million

Morgan Stanley: Donated $1.1 million, received $150 million

Prudential Financial: Donated $406,000, received $100 million

UBS: Donated $147,000, received $100 million"
 
jbander said:
He funnelled 2 billion dollars to them from the Florida pension fund.

"Blackstone Group: Donated $99,000, received $150 million

Carlyle Group: Donated $69,000, received $275 million

Deutsche Bank: Donated $200,000, received $450 million

Freeman Spogli: Donated $743,000, received $50 million

Goldman Sachs: Donated $1.5 million, received $150 million

Hicks Muse: Donated $189,000, received $25 million

J.P. Morgan Chase: Donated $64,000, received $100 million

Lehman Brothers: Donated $499,000, received $175 million

Morgan Stanley: Donated $1.1 million, received $150 million

Prudential Financial: Donated $406,000, received $100 million

UBS: Donated $147,000, received $100 million"
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You might want to add an explanation and a link? I have no idea what you are talking about.
 
I think he's suggesting that Bush gave money to contributors from the state pension fund. If that were true he would be in prison, not running for office. Somebody has been reading nonsense blogs, I think.
 
jbander said:
He funnelled 2 billion dollars to them from the Florida pension fund.

"Blackstone Group: Donated $99,000, received $150 million

Carlyle Group: Donated $69,000, received $275 million

Deutsche Bank: Donated $200,000, received $450 million

Freeman Spogli: Donated $743,000, received $50 million

Goldman Sachs: Donated $1.5 million, received $150 million

Hicks Muse: Donated $189,000, received $25 million

J.P. Morgan Chase: Donated $64,000, received $100 million

Lehman Brothers: Donated $499,000, received $175 million

Morgan Stanley: Donated $1.1 million, received $150 million

Prudential Financial: Donated $406,000, received $100 million

UBS: Donated $147,000, received $100 million"
Click to expand...

Sorry folks much of my header seemed to disappear. I should have checked. It's common to not allow Source addresses in comment forums and Newspapers but it is more then simple , Google "jeb bush funnelled 2 billion dollars from pension fund" There's at least 4 dozen sources, pick one you your comfortable with. To the guy that said it was illegal, would you like to tell us how or why that is.
 
Those were companies that received INVESTMENTS as part of the state pension fund's investment. The OP tries REALLY hard to make it sound like they were given those funds, but the TRUTH is that the monies were invested in them, not given to them. Then we have the sorry-ass exercise os using correlation instead of causation to arrive at a conclusion.

Having said that, IF these firms received these monies as a direct result of their contributions, then there needs to be an investigation and if the parties involved are guilty of this kind of payback, then they need to face the full impact of the law.
 
faithful_servant said:
Those were companies that received INVESTMENTS as part of the state pension fund's investment. The OP tries REALLY hard to make it sound like they were given those funds, but the TRUTH is that the monies were invested in them, not given to them. Then we have the sorry-ass exercise os using correlation instead of causation to arrive at a conclusion.

Having said that, IF these firms received these monies as a direct result of their contributions, then there needs to be an investigation and if the parties involved are guilty of this kind of payback, then they need to face the full impact of the law.
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There is no stretch, these funds were invested after the contributions. It's clear to me why but you can hold onto anything as far as I'm concerned .I'm totally aware of the make believe world the right lives in.
They can't be charged, I think we both know that.
 
Helix said:
looks like he got it from Daily Kos, a hack site that i generally ignore because it's even more biased than Fox.

Jeb Bush Funneled Almost $2 Billion in FL Pension Funds to Brother's 'Pioneer' Donors
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what makes it more unviable besides its source is that it ws 2 billion,not 2 million and not 200k.for the federal govt losing 2 bil unnoticed is fairly easy,but 2 bil out of any states funds,and its pretty easy to notice a massive chunk of money being squandered.

would be even more noticeable given that floridas yearly revinue is just under 33bil.
 
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What does that even mean. You lost me on that one. There is literally dozens of sights supporting my comment if Kos is one of them big deal. This had nothing to do with their budget , this was pension money. I don't have a clue what your point is.
 
fmw said:
I think he's suggesting that Bush gave money to contributors from the state pension fund. If that were true he would be in prison, not running for office. Somebody has been reading nonsense blogs, I think.
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State pension funds must invest to make money so I don't know what you are talking about. It is not illegal for States to invest their pension funds. The money was not given it was "invested". And the story is 100% true by the way. It is common for contributors to be rewarded with pension fund investments, Chris Christie is also fond of the practice.
 
beerftw said:
what makes it more unviable besides its source is that it ws 2 billion,not 2 million and not 200k.for the federal govt losing 2 bil unnoticed is fairly easy,but 2 bil out of any states funds,and its pretty easy to notice a massive chunk of money being squandered.

would be even more noticeable given that floridas yearly revinue is just under 33bil.
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The money was invested in those contributors firms and I don't know the return rates but I don't think you can call that squandering. Payback maybe, but not squandering and it is all perfectly legal just not very ethical. The Bushes are not known as "welchers" either. His brother peppered his administration with buddies and contributors and Jeb was no different.
 
I think the main point is the regressives have a zero line up for the next presidential election and every Foxy and Rush Bubba will be defending this slop that is being thrown out as their candidates. So I expect this to be a funny presidential election. Clinton will win and what we will find out is these regressives won't do any better with the first women president then they did with the first black president. These regressives can't be dragged into 21st century, actually not even the 20th century.
 
beerftw said:
what makes it more unviable besides its source is that it ws 2 billion,not 2 million and not 200k.for the federal govt losing 2 bil unnoticed is fairly easy,but 2 bil out of any states funds,and its pretty easy to notice a massive chunk of money being squandered.

would be even more noticeable given that floridas yearly revinue is just under 33bil.
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That money wasn't lost, it was invested. READ the WHOLE story instead of just the headline...
 
iguanaman said:
State pension funds must invest to make money so I don't know what you are talking about. It is not illegal for States to invest their pension funds. The money was not given it was "invested". And the story is 100% true by the way. It is common for contributors to be rewarded with pension fund investments, Chris Christie is also fond of the practice.
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I don't know what I was talking about either since the OP didn't explain it. So there was no wrongdoing. Ok.
 
joG said:
You might want to add an explanation and a link? I have no idea what you are talking about.
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Governor Bush didn't give these firms money. Moreover, some of those firms are among the world's leading money managers. Hence, it makes sense that they be entrusted to help manage some of Florida's funds.
 
fmw said:
So you are saying it was corrupt. You can say that about every politician that ever lived.
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I am not so sure. It is always a matter of DEGREE of corruption and on that Jeb is pretty up there. How many billions was it?
 
faithful_servant said:
That money wasn't lost, it was invested. READ the WHOLE story instead of just the headline...
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i know it was invsted,but point being such a massive amount of floridas income being squandered would have been easily caught,meaning the money wasnt squandered at all.
 
Politicians have authority to designate where public funds get used, invested, whatever. Commissions can be lucrative, even if they aren't called commissions. Just making the decision on what company gets to provide and/or manage health insurance for a large government agency is money in some salesman's pocket, and kickbacks (oops, commissions) are common.

Once it is decided who gets the contracts, ongoing management fees can add up to large chunks of money as well. Is it any wonder that politicians succumb to corruption?
 
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