Lehman holdings cost Ohio pensions $480M

This is nothing more than laying the ground work for Teddy to start hammering Kasich on the fact that he worked for Lehman... The only real important thing of mention in this article (Barney Frank; are you kidding ME!?) is -

"Julie Graham-Price, a spokeswoman for PERS, said the figures Ohio Treasurer Kevin Boyce's office compiled represent only the value of the Lehman-managed assets the pension system held in 2007 and then in 2008, not actual gains and losses. Assets might have been bought or sold during that period, so a direct comparison can't be made, she said."

True, what didn’t lose value during that time...? Not to mention PERS could have sold assets and had gains but there is no mention of that in the article; not surprising...

really wrote:

<quoted text>
If you can live with being a hypocrite, I certainly can. And if this is the best argument you and your pals in the unions and media can come up with, Strickland is in worse shape than you thought.
All polls say the top concern for Americans is jobs, not Wall Street "reform." In Ohio, unemployment is 11%. That's what Ohioans will be thinking about on election day.

One more time...wihout stooping to name calling. Yes, of course jobs ARE the top issue as I clearly said. And the 2008 Wall Street meltdown was triggered by Lehman bankruptcy and that mess caused a lot more jobs to be lost in Ohio -- not to mention $480 million value in Ohioans pension funds. Ohioans will be thinking about these facts too on election day.

I'll say this for you. You REALLY stay on GOP talking points even if you have to keep changing the subject of the thread to do it -- rather than using your brain to argue the facts of the subject at hand. It may work in paid air time or Sarah Palin stump speeches, but not in the blogosphere. Speaking of Palin, it was the Lehman-Wall Street crash of September 15, 2008, not Sarah's media performance that sank the McCain ticket in 2008. Kasich must have been sweating bullets that day.

The real reason(s) we are bleeding jobs are due to good-intentioned laws such as the Clean Air Act, the Clean Water Act, the Endangered Species Act, the Americans with Disabilities Act, and the Family & Medical Leave Act, not to mention the numerous lawsuits that have been filed and the insane court decisions that have been handed down as a result which have twisted those laws into onerous regulatory job-killers.

Folks, we got to get common sense back - busineses do not have unlimited checking account to keep paying for collective bargaining agreements, environmental laws and workplace safety and still compete in a global market and break even, let alone make a profit.

Mr. Strickland and Mr. Obama completely miss the point of capitalism and people being self-reliant and self-determining to be successful. No government has ever taxed itself or its people into prosperity. Look at history, and look at the facts.

College punks think they are so smart. If you would have joined the union, instead of wasting your time and your daddies money in college maybe you would be making a real income.

The Dow Jones Industrial Average (DJIA), arguably the one index most people equate to how well financial markets are performing, closed 13,264.82 on 12-31-07. On 9-8-09, date of Lehman's collapse, the DJIA closed 11,510.74, down 1,754.08 or 13.22%.

Just 5 calendar days before Lehman Bros collapsed the company still 'earned' investment grade status.

3-9-09, the market's cyclical bottom, the DJIA closed 6,547.05, down 4,963.69 or 43.122%.

A number of other domestic and international actions, circumstances and events contributed to the markets' slide - but unquestionably the collapse of Lehman Brothers was the major cause.

Prices (worth) of Lehman Brothers bonds fell from par or near par to virtually zero within minutes.

Will Lehman insurer's make Lehman bond holders whole?

Will Richard Fuld, head of Lehman when it failed, really get to keep the hundreds of millions of dollars he fraudulently reaped?

Bulldog Ben wrote:

<quoted text>
One more time...wihout stooping to name calling. Yes, of course jobs ARE the top issue as I clearly said. And the 2008 Wall Street meltdown was triggered by Lehman bankruptcy and that mess caused a lot more jobs to be lost in Ohio -- not to mention $480 million value in Ohioans pension funds. Ohioans will be thinking about these facts too on election day.
I'll say this for you. You REALLY stay on GOP talking points even if you have to keep changing the subject of the thread to do it -- rather than using your brain to argue the facts of the subject at hand. It may work in paid air time or Sarah Palin stump speeches, but not in the blogosphere. Speaking of Palin, it was the Lehman-Wall Street crash of September 15, 2008, not Sarah's media performance that sank the McCain ticket in 2008. Kasich must have been sweating bullets that day.

Lehman's collapse hurt McCain but his selection of Sarah Palin absolutely killed any chance of him being elected president.

Larry wrote:

College punks think they are so smart. If you would have joined the union, instead of wasting your time and your daddies money in college maybe you would be making a real income.

Drive down 15th or Lane on a Fri Nite or a Sat or Sun am and count the beer cans and bottles in the yards and streets and sidewalks.
Most Union Employers now have substance abuse standards that would keep many of them out of the apprenticeship programs, and out of the small business ownership community.

Update.

As of 4 pm today the DJIA is up 69.92% from its 3-9-09 low. Haven't the public pensions recouped somewhat?

John Kasich being a director of Lehman in Columbus whuld not have given him any control or being involved in the way Lehman did business. It looks to me as though the Democrats want to use some issue that Kasich had nothing to do with to discredit him. Our Gov is the one who has been screwing up by the numbers such as the drug bust at the Govenors mansion, and numerous other screw ups. I suppose the Kasich also has something to do with the unemployment in Ohio.

Would anyone like to take a wild guess on who Ohio's next Governor is going to be? Here is a hint: It's not going to be the guy that took a golden parachute.

Summit Republican wrote:

Would anyone like to take a wild guess on who Ohio's next Governor is going to be? Here is a hint: It's not going to be the guy that took a golden parachute.

How about Bob Taft again?- he was a Republican favorite and he achieved notoriety for he handled the Ohio economy (Tom Noe could be his lieutenant governor too).