Rick Perry Sought State Profits From Teacher Life Insurance Scheme




WASHINGTON -- Two weeks before Thanksgiving in 2003, top officials from Texas Governor Rick Perry's office pitched an unusual offer to the state's retired teachers: Let's get into the death business.

Perry's budget director, Mike Morrissey, laid out a pitch that was both ambitious and risky, according to notes summarizing the meeting provided to The Huffington Post.

According to the notes, which were authenticated by a meeting participant, the Perry administration wanted to help Wall Street investors gamble on how long retired Texas teachers would live. Perry was promising the state big money in exchange for helping Swiss banking giant UBS set up a business of teacher death speculation.

All they had to do was convince retirees to let UBS buy life insurance policies on them. When the retirees died, those policies would pay out benefits to Wall Street speculators, and the state, supposedly, would get paid for arranging the bets. The families of the deceased former teachers would get nothing.

The meeting notes offer the most direct evidence that the Perry administration was not only intimately involved with the insurance scheme, but a leading driver of the plan.

http://www.huffingtonpost.com/2011/08/25/rick-perry-texas-life-insurance-scheme_n_935666.html

Amazing! It's hard to know what to say.

Typical crooked politician.

Why should the families get any money? They didn't purchase the policies.

I would laugh hard at this but I think your actualy seriouse and that is pretty sad.

Ah yes, the Huffington Post such credible information.

Just remember there are three sides to every story. There's one persons side, there's the other side and then there's the truth. People ALWAYS doctor their side to make it sound better and to win people's support or sympathy. It would do you some good to remember that. Just sayin'

Though the plan is weird I will say if you give a foreign party permission to take out life insurance on you then why should an unrelated party get money. I think that guy has a valid point. He is trying to take an unbiased view of the situation and ask a question from that point of view. You are a very poor debater if you can't realize some people can debate and objectively question a point of view and not necessarily agree with it. You always assume that just because people question something that you know their opinion on it.

Actually if a third party took out life insurance on you, at least in Texas, it would be unpayable unless they have something to do with you. Just sayin that's the way the law is here. Or maybe it's life insurance companies themselves??

The story is factual feel free to investigate yourself.