Lehman Brothers Gave Jeb Bush $1.3 Million After He Gave It Control of Florida Pensions

‘International Business Times’ David Sirota, Matthew Cunningham-Cook and Andrew Perez have the scoop on a conflict of interest that handed former Florida governor Jeb Bush more than a million dollars.

They report that in 2005 and 2006, the bank — which later ended up collapsing during the financial crisis — was given control of $250 million of Florida pension funds belonging to police officers, firefighters and teachers. The bank ended up earning over $5 million in fees from managing the fund, and getting an additional $1.2 billion before it ended up collapsing in 2008.

The collapse left Florida with $1 billion in losses. By that point, Bush had already departed the governor’s mansion, but reaped the benefits. He nabbed a job at Lehman that paid him $1.3 million.’

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