KASICH'S CORPORATE COLLAPSE

Lehman Chairman And CEO Richard Fuld Made Kasich Post-Congress Job Offer. John Kasich met Lehman Brothers Chairman and CEO Richard Fuld at the tail end of his presidential run. Although his bid to receive the GOP nomination was coming to a close due to poor fundraising, the New York Observer reported that Kasich and Fuld "hit it off nevertheless." When Kasich ended his presidential bid, he "started a round of calls to people concerning his next move. ...So when Mr. Fuld made him an offer to come to Lehman Brothers, he jumped."
[New York Observer, 9/16/01; Wall Street Journal, 9/2/08]

2001: Kasich Named Lehman Managing Director In Investment Banking Division. A January 2001 New York Times article featured a Lehman Brothers' announcement that John Kasich was named a managing director of its investment banking group. "His responsibilities will span a range of industries on which Lehman focuses its investment banking efforts, including health care, power and utilities, financial institutions, consumer products, technology and manufacturing, the company said."
[New York Times, 1/11/01]

2001: Kasich On Lehman CEO: "Fuld Is An Awesome Guy." In 2001, Kasich spoke highly of the Lehman Brothers' CEO Richard Fuld. Kasich said, "Fuld is an awesome guy. He is the kind of guy you want to go into battle with. He is a great leader. I like people who are really smart and really great leaders."
[New York Observer, 9/16/01]

While Working For Lehman, Kasich Commuted From Columbus To New York City Regularly. In 2001, the New York Observer interviewed John Kasich from his corner office at Lehman Brothers' New York City headquarters. The Observer reported that Kasich "commutes a few times a month from Columbus, Ohio, where he lives with his wife and twin 20-month-old daughters, and tucks into Lehman Brother's corner office to talk about mergers and acquisitions in the health-care space."
[New York Observer, 9/16/01]

2008: Lehman Brothers Filed For Chapter 11, Biggest Bankruptcy In History. In September 2008, Lehman Brothers Holdings filed for Chapter 11 bankruptcy, the biggest bankruptcy in history. Lehman had $613 billion of debt, which dwarves WorldCom Inc.'s insolvency in 2002 and Drexel Burnham Lambert's failure in 1990.
[MarketWatch.com, 9/15/08; Financial Post, 9/15/08]

2009: Lehman CEO Fuld Named One Of 25 To Blame For Financial Collapse. TIME magazine later named Fuld one of the 25 people to blame for the financial collapse. Fuld "steered Lehman deep into the business of subprime mortgages, bankrolling lenders across the country that were making convoluted loans to questionable borrowers. Lehman even made its own subprime loans. … For all this wealth destruction, Fuld raked in nearly $500 million in compensation during his tenure as CEO, which ended when Lehman did."
[TIME, 2/12/09]