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Friday, 12 December 2014 06:06

Jeb Bush has a ... problem

Written by  Bloomberg News

 

Jeb Bush has a Mitt Romney problem

Bloomberg Politics, by Joshua Green, Dec. 11, 2014

Over the last several months, former Florida Governor Jeb Bush has been giving speeches, campaigning for candidates, appearing at public forums, and meeting with wealthy donors, which has led many people to believe that he may soon enter the race to become the next Republican presidential nominee. On Dec. 1, Bush told a gathering of business leaders at the Four Seasons Hotel in Washington that he would make a decision about his political future “in short order.” But Bush’s recent business ventures reveal that he shares a number of liabilities with the last nominee, Mitt Romney, whose career in private equity proved so politically damaging that it sunk his candidacy.

Documents filed with the U.S. Securities and Exchange Commission on Nov. 27 list Bush as chairman and manager of a new offshore private equity fund, BH Global Aviation, which raised $61 million in September, largely from foreign ­investors. In November the fund ­incorporated in the United Kingdom and Wales­—a structure, several independent finance lawyers say, that operates like a tax haven by allowing overseas investors to avoid U.S. taxes and regulations.

BH Global Aviation is one of at least three such funds Bush has launched in less than two years through his Coral Gables, Fla., company, Britton Hill Holdings. He’s also chairman of a $26 million fund, BH Logistics, established in April with backing from a Chinese conglomerate, and a $40 million fund involved in shale oil exploration, according to documents filed in June and first ­reported on by Bloomberg News. …

http://www.bloomberg.com/politics/features/2014-12-11/jeb-bush-has-a-mitt-romney-problem

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