G.W. Bush's Cousin George Walk = Lehman Brothers

[tun_dr_m]

http://news.xinhuanet.com/world/2008-10/07/content_10161145.htm

<h2 style="color: brown"> 美国议员称世界经济危机罪魁祸首是布什表弟</h2>
2008年10月07日 19:39:05 　来源：环球时报
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美国民主党议员亨利·韦克斯曼(Henry A. Waxman)周一在美国国会听证会上发言时说，“雷曼兄弟(Lehman Brothers)”公司破产以及整个世界经济濒于崩溃边缘的罪魁祸首是“雷曼兄弟”的高层领导。他们不顾“危机爆发”的警告从而导致了美国历史上最大的破产案并使现在金融体系危机爆发。而“雷曼兄弟”的领导层就包括美国总统布什的表弟乔治·沃克(George Walker)。:oIo:

美国民主党议员、众议院监管和政府改革委员会主席亨利·韦克斯曼(Henry Waxman)本周一在美国国会听证会上进行了报告发言。在听证会上，韦克斯曼公布了24页“雷曼兄弟”内部文件。他说，这些文件证明“雷曼兄弟”公司董事会主席理查德?福尔德(Richard ? Fuld)，包括沃克因自己行为导致雷曼破产及美国经济陷入崩溃边缘。

韦克斯曼说：“很多专家认为，是‘雷曼兄弟’破产伴随的贷款冻结扼杀了我们的经济并被迫采取7000亿救助计划。”他说，该公司不听专家警告，不缩减开支以应对即将到来的危机。作为证据，他公布了雷曼的子公司Neuberger Berman一些负责人在今年6月给雷曼领导的信件，信中说：公司高管今年应停发放一切奖金以缩减开支，向员工和投资者发表“果断”信号。

韦克斯曼说：“这封电子邮件也寄给了雷曼执行委员会，该委员会成员之一就是乔治·沃克——布什总统的表弟，主要负责领导Neuberger Berman公司。在回信中，沃克说：“不明白在他管理下的银行会发生什么问题。抱歉，对此我感到很不舒服。”

G. W. Bush = George Walker Bush
http://en.wikipedia.org/wiki/George_W._Bush

His Cousin = George Herbert Walker IV

http://en.wikipedia.org/wiki/Lehman_Brothers

Lehman Brothers Investment Management Director George Herbert Walker IV, second cousin to U. S. President George Walker Bush, dismissed the proposal,

 

[tun_dr_m]

http://www.thestreet.com/markets/hedgefunds/10286680.html


Bush Cousin Heads to Lehman

05/18/06 - 04:05 PM EDT
, GS (Cramer's Pick) , MS , LEH , JPM
Emma Trincal
Emma Trincal

Lehman Brothers(LEH Quote - Cramer on LEH - Stock Picks) has nabbed George H. Walker, the CEO of Goldman Sachs(GS Quote - Cramer on GS - Stock Picks) Hedge Fund Strategies, to be the global head of its $188 billion Investment Management Division, Lehman Brothers announced today.

Walker has already resigned from Goldman Sachs and could not be reached for comment. A spokesman at Goldman Sachs did not return a call.

Walker, who is President George W. Bush's second cousin, had joined the merger and acquisition group of Goldman Sachs in 1991 and became a partner in 1998. He soon grew to be one of the principal architects of Goldman Sachs' investment management strategy and was overseeing a $70 billion group of alternative investments, including hedge funds of funds and private equity investments.

At Lehman, Walker will oversee two and a half times the amount of assets under his belt at Goldman, as he will run a global group that includes not just alternative investments but also traditional assets, including mutual funds. He succeeds Theodore Janulis, who recently became global head of the firm's mortgage capital business.

Lehman Brothers' Investment Management Division includes Asset Management, which offers Lehman and Neuberger Berman proprietary products across traditional and alternative asset classes (Neuberger was acquired by Lehman in 2003.) In addition, the group comprises Private Investment Management, the wealth advisory group that caters to high-net-worth individuals, as well as the Private Equity group. Within the Investment Management division, Lehman runs an Absolute Return Strategies group, the hedge fund franchise, whose size a Lehman spokesman declined to divulge.

The move to Lehman represents a change of strategy in Walker's career. Among banks running large hedge fund franchises, Lehman does not come first. Goldman Sachs is the largest and the most prestigious, with the biggest fund of hedge funds group (estimated at $12 billion to $14 billion) and a single-manager hedge fund group known for its quantitative traders running macro-oriented strategies. Then comes JPMorgan Chase(JPM Quote - Cramer on JPM - Stock Picks), with approximately $9 billion in funds of funds and a $7 billion hedge fund (Highbridge Capital, acquired by the firm in 2004.) Morgan Stanley (MS Quote - Cramer on MS - Stock Picks) is often seen as the third player, with approximately $7 billion to $9 billion in hedge funds assets.

Both Goldman Sachs and Morgan Stanley are front-runners in prime brokerage, which has benefited from the growth of hedge funds industry wide. But the size and the position of Lehman in this market is more modest. An industry executive estimates that Lehman runs $2 billion to $3 billion in funds of funds. The firm also has a 20% ownership in Ospraie Management, the $4 billion commodity hedge fund that has suffered losses of late. There is a lot to be done to grow Lehman's alternative business to the next level.

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That's perhaps why Walker was hired in the first place. In a move that is uncommon in a firm that rewards the loyalty of long-term bankers, Lehman has offered Walker to join the firm's Executive Committee. "It's a higher position. For him to join the Executive Committee just coming in is a pretty big thing," says this executive.



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