Kasich answers charge he profited from Lehman collapse

Ohio gubernatorial candidate John Kasich (R) released his 2008 tax returns Friday -- a move that could blunt Democratic attacks that he profited from the collapse of Lehman Brothers.

His campaign also released a copy of his 2009 financial disclosure statement ahead of the Monday deadline. The records show Kasich is a millionaire.

Kasich, a former congressman, was a managing director at the investment bank before it went bankrupt in 2008. The returns show he made nearly $1.4 million in income that year, including $587,175 in salary and bonuses from Lehman. He also reported earning $265,000 as a Fox News commentator, $165,718 in speaking fees, $19,777 earned by his wife, Karen, and $61,538 from Schottenstein Property Group, his current employer, according to the Associated Press.

The Columbus Dispatch had requested that Kasich release his tax returns for the eight years he was at Lehman, but the campaign said the 2008 return was "generally reflective of his earnings for those years and declined to release more."

Gov. Ted Strickland's (D) campaign didn't buy it.

Strickland spokeswoman Lis Smith said Kasich was "insulting the intelligence" of Ohio voters "by refusing to release the details of his seven-plus years of employment at the Wall Street investment firm Lehman Brothers and his professional paid speaking appearances to special interest groups across the country."

But Kasich spokesman Scott Milburn said the campaign went beyond the financial disclosure required by campaign finance laws.

"We're doing this primarily to show that he did not profit from Lehman Brothers' demise," Milburn said. "His stock in Lehman Brothers is effectively worthless now."

Updated at 6:06 p.m.

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