GOP OH Sen Candidate Kasich received a bonus of nearly a 1/2 MILL $ the year of Lehman collapse

[mod mom]

Ohio Dem Party Press Release: "Only In the Dispatch": Lehman "Expert" Actually Kasich Contributor

COLUMBUS—On Saturday, a Columbus Dispatch story about Republican gubernatorial candidate Congressman John Kasich’s release of partial tax returns from 2008, showing he received a bonus of nearly a half million dollars the year of the collapse of Lehman Brothers, quoted author and former Lehman Brothers employee Lawrence McDonald downplaying Kasich’s role at the firm.

What the Dispatch failed to note is that McDonald has twice contributed to Kasich’s campaigns – in 1998 and in 2000.

And, while McDonald has now become John Kasich's biggest defender, he is extremely critical of former Lehman CEO Richard Fuld, who was Kasich's "mentor" and someone Kasich called an "awesome guy" and a "great leader" .

This is not the first time the Dispatch has used Kasich contributors as sources to back up the assertion that Kasich did not play a major role at Lehman Brothers. A November 1, 2009 article, "Was Kasich A Wall Street Titan" quoted three such contributors, who have given a combined $45,512 to Kasich. But this key fact was not included in the article.

McDonald Gave $800 To Kasich's Campaigns. Former Lehman Brothers trader Lawrence McDonald donated $500 to Kasich's presidential campaign in 1999, and $300 to Kasich's congressional campaign in 1998.


Kasich made more than $1 million in 2008, tax returns show
Income included $587,175 from Lehman Brothers
Friday, April 2, 2010 10:32 AM
Updated: Friday, April 2, 2010 01:20 PM
BY JOE HALLETT
THE COLUMBUS DISPATCH

John Kasich
Republican gubernatorial candidate John Kasich made nearly $1.4 million in 2008, including $587,175 as a managing director of Lehman Brothers investment banking division.

Kasich today released income tax returns showing his earnings for 2008 to blunt attacks from Democrats that he excessively profited from Lehman, whose collapse on Sept. 15, 2008 precipitated the nation's financial meltdown.

The returns showed that Kasich was paid a $182,692 salary in 2008 from Lehman, along with a $432,000 bonus and $2,250 in other benefits. The bonus, paid on Jan. 31, 2008, was for Kasich's performance with the firm in 2007. The Ohio Democratic Party long has speculated that Kasich profited handsomely when Lehman collapsed, but Kasich continually has said he lost money when the firm went under.

Scott Milburn, Kasich campaign communications director, said the campaign is not legally required to release the candidate's income tax returns, but did so to set the record straight.

-snip

http://www.dispatch.com/live/content/local_news/stories/2010/04/02/kasich-releases-2008-tax-returns.html?sid=101

FYI: tax returns also reveal that Fox News paid Kasich $265,000 in 2008 so expect fair coverage of candidate Kasich from FAUX!

[jefferson_dem]

1. Strickland had already turned the corner here...

Hopefully, this will help put another nail in Kasich's coffin.