Presidential candidate Rick Perry has touted Texas’ thriving economy as a sign that he would make an excellent economic steward, but one of his proposals might not do so well on a national scale: a plan to let Wall Street gamble on when retired Texas teachers would die.
According to notes of a meeting provided to The Huffington Post, Perry’s budget director Mike Morrissey advanced a plan in which investors from Swiss banking firm UBS profited from teachers’ deaths by purchasing life insurance policies on them. A fee for arranging the deals would accrue to Texas, which Morrissey said could eventually generate as much as $700 million for Texas.While Perry’s office has repeatedly denied explicitly backing the scheme, maintaning that the governor was simply keeping an open mind by listening to the proposal, an attendee at a meeting where the idea was pitched to teachers’ groups told The Huffington Post that the governor was fully behind the idea. Insurance Commissioner Jose Montemayor, a Perry appointee, was a particularly enthusiastic advocate.
Tag Archives: Phil Gramm
From The Houston Chronicle:
WASHINGTON — The Pentagon’s decision to shift the production of Army trucks from Texas to Wisconsin after 17 years caught Texas’ elected officials by surprise, raising questions about overconfidence, a loss of political clout and the impact of economic incentives provided to the winning company by Wisconsin’s Democratic governor.
Texas Republican Gov. Rick Perry and the 34-member Senate-House delegation are rallying to salvage a deal for BAE Systems that could be worth $2.6 billion and sustain 10,000 direct and indirect jobs around the sprawling truck manufacturing plant in Sealy.
But as one Democratic operative puts it: “That’s like having a party in the corral after all the horses have run out.”
There was much excitement behind the scenes at the Rethuglican Convention! There was a lot of planning going on!
All of Captain Underpants’s
lobbyists friends and advisers were there, including Karl Rove, Phil Gramm (who kept his hands over his ears, lest there be any whining! 😆 ), Randy Scheunemann, Joe McLieberman, Nicolle “the media sucks” Wallace, Lindsey-poo, and Charlie Black. Captain Underpants snoozes in the background until they wake him up to tell him what he honestly and truly thinks.
Oh, kids! Didya see it? Of course, I am talking about The New Yorker magazine cover! From ABC News:
The sophisticates at The New Yorker have come up with a cover that is sure to get the magazine a lot of attention. Negative attention. From their friends.
An illustration by Barry Blitt depicts Sen. Barack Obama, D-Ill., and his wife Michelle in the Oval Office, revealing their “true” selves: Michelle is in full revolutionary garb, an enormous afro making her look like a millennial Angela Davis, holding an automatic weapon and wearing military pants.
In the cartoon Michelle is giving dap, or fist-bumping, with her husband who is wearing a turban and is dressed in garb perhaps more appropriate for a madrassa in Lahore than the Oval Office.
A painting of Osama bin Laden hangs above the fireplace, where the American flag is being burned.
Well, you know me, kids! I am always here to help out! I don’t want the people at The New Yorker working too hard. In the spirit of fairness, I thought Captain Underpants and his
botoxed recipe stealing Stepford lovely wife, Cindy Lou, should have a super-cool cover, too, so I created one! Hey, The New Yorker! You have my permission to use this one….
Original magazine cover.
From Consortium News:
John McCain has been purging lobbyists from his campaign trying to reclaim the mantle of political reformer, but there’s one lobbyist whose role as a key economic adviser makes him almost untouchable despite ties to the sub-prime debacle, links to the Enron disaster and alleged evasion of ethics rules.
Former Sen. Phil Gramm, who was listed as a lobbyist for banking giant UBS as recently as December 2007, has emerged as what Fortune magazine calls “McCain’s econ brain,” filling McCain’s acknowledged void on economic expertise (“I don’t know as much about the economy as I should”).
From The American Spectator ( 😮 yeah, I said The American Spectator! I am just as surprised as you are!):
The tin-foil-hat crowd was almost immediately pushing a Jack Abramoff angle to the surprise resignation of Sen. Trent Lott. But a more recent scandal brewing — which has already ensnared Sen. Ted Stevens, among others — may also be playing on Lott’s mind.
Lott, Stevens, as well as Rep. Dennis Hastert all have ties to Bill Allen, a larger than life Alaskan businessman who owned Veco, an oil-field services company, and who was a huge benefactor of Republican politicians. Between 1980 and 2000, Allen, Veco executives and Allen’s friends generated more than $1 million in political donations.
From Think Progress:
Allen has pleaded guilty to bribing Alaska legislators, including Ben Stevens, the son of Sen. Ted Stevens (R-AK). The elder Stevens is currently the target of multiple federal investigation, including one on his ties to Veco.
Lott continues to stand by Stevens, donating $5,000 from his political action committee to Stevens’s re-election campaign. Lott also has ties to Allen, who accompanied him to the lavish annual “Waterfall Fishing Tournament” in Alaska. Since 1996, at least 10 current and former lawmakers have attended the trip, an opportunity for “the energy industry’s top brass” to influence lawmakers.