IBT, By Matthew Cunningham-Cook, David Sirota, and Andrew Perez, August 19
For Florida taxpayers, the move by the administration of then-Gov. Jeb Bush to forge a relationship with Lehman Brothers would ultimately prove disastrous. Transactions in 2005 and 2006 put the Wall Street investment bank in charge of some $250 million worth of pension funds for Florida cops, teachers and firefighters. Lehman would capture more than $5 million in fees on these deals, while gaining additional contracts to manage another $1.2 billion of Florida’s money. Then, in the fall of 2008, Lehman collapsed into bankruptcy, leaving Florida facing up to $1 billion in losses.
But for Jeb Bush personally, his enduring relationship with Lehman would prove lucrative. In 2007, just as he left office, Bush secured a job as a Lehman consultant for $1.3 million a year, Bloomberg reported.
Weeks after Bush took the Lehman job, the Florida State Board of Administration (SBA) — a three-member body that makes investment decisions about state pension funds and whose ranks had recently included one Jeb Bush — gave Lehman additional business: SBA purchased $842 million worth of separate investments in Lehman’s mortgage-backed securities. Over the course of one year from June 2007 to June 2008, the SBA would shift an additional $420 million of pension money into the same fund in which the state had begun investing under Bush.
In short, during Bush’s first year working for Lehman, his former colleagues in Tallahassee, the state capital, moved vast sums of Florida pension money into the doomed Wall Street investment bank, even as warnings about its financial troubles began to emerge.
Trump told the New York Times the supermodel’s looks were fading in a discussion about the fact that he sometimes goes “a little bit far”. “Heidi Klum. Sadly, she’s no longer a 10,” the businessman and TV star said.
Klum responded on Monday with a 12-second video posted to her Twitter and Instagram pages.
In the video, Klum poses for a photographer in a cut-off white T-shirt that says “10”. A man in a Trump mask rips off the “10”, revealing “9.99”, and everyone gasps.
Klum looks down, shrugs and smiles, as the video fades to black and #HeidiTrumpsTrump appears on screen.
Klum tweeted seven other hashtags with the video, including #TrumpHasSpoken, #NoLongerA10, #IHadAGoodRun and #BeautyIsInTheEyeOfTheBeheld.
Washington – Larry Lessig, a well-known legal theorist and political activist, is taking the plunge into electoral politics, announcing on Tuesday that he will formally explore a run for the presidency in 2016 as a Democrat.
Lessig, a Harvard law professor, will be a distinctly unconventional White House aspirant. In an interview, he said he will run on a singular platform: the Citizen Equality Act, which includes campaign finance reform, an end to partisan gerrymandering, and a vast expansion of voting access that would make Election Day a national holiday. Should he win and lead the passage of that agenda, Lessig said he’ll promptly quit, handing the office to his vice president, whoever that may be.
“This is not a ‘Rent Is Too Damn High’ campaign,” Lessig said, referencing the infamous 2010 gubernatorial run of Jimmy McMillan in New York. “This is a campaign about how we need to intervene to make democracy possible again. Raising the salience of that issue is enormously important. I think there is more of a chance that we do more than just raise the salience. … It is a shot worth taking regardless of the criticism that will come.”
Clinton announced that she will push to vastly expand the number of solar panels installed in the United States, as well as to boost overall renewable energy to the point that it will be able to fuel all homes and businesses by 2027.
The proposals reflect Clinton’s commitment to continuing the path on climate change set by President Obama, who champions numerous policies that bolster renewables and push a reduction in fossil fuel consumption.
The Clinton package is incomplete, however. Unlike her rivals in the Democratic presidential contest, Clinton has yet to take a position on the controversial Keystone XL pipeline, which would transport oil from the Canadian tar sands to Gulf Coast ports. She also has yet to weigh in on a campaign to ban hydraulic fracturing nationwide, or to take a firm position on offshore oil drilling.
The proposal Clinton released Sunday for boosting solar installations by 700% is vague on details about how it would be funded.
Walker’s latest austerity measures came just hours before he officially became a contender for the 2016 GOP presidential nomination.
Wisconsin law required that the state’s minimum wage “not be less than a living wage.” Last fall, workers filed a lawsuit arguing that the state’s $7.25 hourly minimum wage did not constitute a living wage. But Walker’s budget stripped the language “living wage” from the law, nullifying the court battle and making wage increases more difficult for people who work.
Walker, in his first interview since announcing his candidacy, challenged the mere existence of a minimum wage.
His most recent book’s sales quadrupled in the immediate weeks after launching his presidential campaign, and his personal financial disclosure shows he made more
than $4 million from delivering speeches across the country.
“With this budget, taxpayers come first,” said Republican Governor Scott Walker announcing the passage of his $72.7 billion biennial budget.
Calling the prevailing wage law a “depression-era…mandate that artificially increases the costs of construction,” Walker said he was reforming government through its repeal. He said local government would be exempt from the mandate, “savings millions for our schools, technical colleges and other local governments.”
In the formal announcement of his presidential campaign on Monday, Scott Walker mentioned God right away, introduced himself as a preacher’s son and invoked religion repeatedly, as he has throughout a perpetual candidacy that stretches back to his college days, when he told the Marquette University yearbook: “I really think there’s a reason why God put all these political thoughts in my head.”
In February 2015, Trip Gabriel of The New York Times described him as having “quickly vaulted into the top tier of likely candidates in the Republican presidential race”. Peter Beinart of The Atlantic noted Walker’s success with a conservative audience at the Iowa Freedom Summit. On April 20, at a fundraising event for the New York State Republican Party, David Koch told donors that he and his brother, who oversee one of the biggest private political organizations in the country, believed that Mr. Walker would be the Republican nominee.
In his first official day on the presidential campaign trail, Bush, who is Catholic, told a town hall event in New Hampshire that Pope Francis should steer clear of global affairs.
The energy industry also turned on the pope, with the lobbyist for one of America’s biggest coalmining companies sending out an email blast on Tuesday, rebuking the church leader for failing to promote fossil fuels as a solution to global poverty.
Bush earlier this month was the sole Republican presidential candidate invited to speak at a $7,500 golfing and fly fishing retreat hosted by coal companies, including Arch.
Only one of the nearly 20 Republicans running for president acknowledges the danger of climate change: Lindsey Graham, the South Carolina senator, who is considered a long shot.
Mr. Santorum hopes outreach to lower-income Americans, combined with his base of support among evangelical Christians and the party’s most conservative voters, will propel him ahead of better-funded candidates with establishment backing.
The strategy builds on his 2012 bid as a lunch-bucket conservative with a populist economic tone and a focus on social issues, an image that appealed to voters who felt eventual nominee Mitt Romney was insufficiently conservative.
“There’s a real opportunity for a candidate to come forward with a plan that’s going to provide upward mobility for everybody and unite the country in a way that we haven’t seen in a long time,” he said on CBS’s “Face the Nation” last month.