Thursday, December 04, 2008

Bush Relation Lands on Top of Lehman's Crown Jewel

George W. Bush's cousin and brother came out in high cotton from Lehman Brothers' bankruptcy. Cousin George Herbert Walker will be CEO of an independent Neuberger Investment Management. The firm manages $160 billion in assets.

Brother Jeb Bush advises Lehman's private equity funds, included in the Neuberger spin off. Jeb is on a winning streak. His name was mentioned as a possible Senate candidate and he landed a spot on the Rayonier Board of Directors. That's in addition to his board seats at Tenet Healthcare and CNL Bankshares.

Lehman's bankruptcy was a precipitating event for the mid-September credit meltdown. Many financial experts call it a bad move, but it seemed to benefit the Bush boys. George W. avoided egg from saving his near relations' firm. George Herbert Walker and Jeb Bush can get a chunk of $2 billion in segregated bonus money and own part of a stand alone Neuberger. Another Bush league victory in their no cash down deal!

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