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“How Jeb Bush Spent His Years on Wall Street
Former governor’s time at Lehman and Barclays sets him apart from other presidential hopefuls”
https://www.wsj.com/articles/how-jeb-bush-spent-his-years-on-wall-street-1438741822
“Ten weeks before the collapse of Lehman Brothers Holdings Inc., a financial disaster that ushered in the global economic crisis in September 2008, Jeb Bush was in Mexico City to seek help from billionaire Carlos Slim.”
“Mr. Bush was a longtime acquaintance of Mr. Slim, at the time ranked as the world’s second wealthiest individual and one of several deep-pocketed investors on Lehman’s radar. “Project Verde” was supposed to bring home badly needed cash and confidence. Mr. Slim, however, was more interested in talking baseball than investing in the troubled firm.”
““I spent a lot of time, I probably spent about 40% of my time working for Barclays,” Mr. Bush told reporters in June. “I did a lot of their conferences where I spoke and I interacted with their clients.””
“Ohio’s Republican Gov. John Kasich, another candidate for the GOP nomination, also worked as a managing director at Lehman in the eight years leading up its 2008 demise.”
“By August 2008, Lehman had joined a consortium that was among six bidders on the project. The firm collapsed the following month and Barclays, a U.K.-based lender, bought its U.S. operations following a bankruptcy filing.”
“Mr. Bush’s life on Wall Street marked a return to finance. After graduating from the University of Texas in 1974, he took a job at Texas Commerce Bank, a lender founded by the family of James Baker III, who later held cabinet posts in the administration of Mr. Bush’s father, former President George H.W. Bush.
Jeb Bush had joined the bank’s international division, where he worked on analyzing sovereign risks. While based in Caracas, Venezuela, he was frequently on the road to meet clients, extending the banks’ reach to Colombia, Peru, Ecuador, Bolivia and Chile. He took a leave of absence in 1980 to work on his father’s campaign and never returned.
Mr. Bush’s fluency in Spanish and extensive experience in Latin America made him a good choice for the July 2, 2008, trip to Mexico City. He also knew Mr. Slim well: the Mexican billionaire had lent a collection of small-scale Rodin sculptures for the Florida governor’s mansion when Mr. Bush lived there.”
“About two months later, on the Monday that Lehman filed for bankruptcy, Mr. Bush was in Florida alongside Mr. McCain.”