Perry Sought State Profits From Teacher Life Insurance Schem

Another Rick Perry Staffer Ensnared In Teacher Death Bond Scheme

WASHINGTON -- Texas Governor Rick Perry's ties to Swiss banking giant UBS go beyond his relationship with former Sen. Phil Gramm (R-Texas). Perry's current chief of staff and top press person for his campaign, Ray Sullivan, spent five years as a lobbyist for UBS in Texas -- a tenure that began the same year Gramm made his macabre pitch for Perry to enable Wall Street gambling on the deaths of Texas teachers.

Sullivan reaped between $300,000 and $600,000 lobbying for UBS between 2003 and 2008, according to data compiled by Texans for Public Justice, a nonpartisan government transparency group. Disclosure forms only require lobbyists to indicate a salary range, not a specific salary. Sullivan had several other lobbying clients during those same years. He has been described in the local Texas press as a member of Perry's trusted inner circle.

Gramm, a chief architect of the scheme, drew the critical attention of several Texas newspapers at the time, but Sullivan's involvement received much less scrutiny, though his longstanding ties to Perry create the same appearance of corruption and cronyism.

"Sullivan is classic example of the way Perry works," explained Andrew Wheat, research director with Texans for Public Justice. "There's a coterie of insiders that move back and forth between the governor's office, the governor's campaign and the corporate lobby. ... It's a beautiful relationship for everybody except the public."

Sullivan and Perry and did not respond to requests for comment for this story, nor did UBS representatives.

Wow, the leftist guerrillas are really ignorant - betting on death of individual by an insurance company is called an annuity. Funny how the writer didn't call the product by the real name.

Another liberal rage based upon ignorance....not surprising

LJ's rant :Snooze :Snooze

outdoor338 wrote: LJ's rant :Snooze :Snooze

Pot, Kettle, Black.

It's not like you haven't ranted on multiple occasions.

Wow, the leftist guerrillas are really ignorant - betting on death of individual by an insurance company is called an annuity. Funny how the writer didn't call the product by the real name.

Another liberal rage based upon ignorance....not surprising

If you like this idea so much, will you let the Republican Party take out life insurance on you? I'm sure you wont mind if some insurance company gets most of the money.

LadyJazzer wrote:
And there's one thing for sure...The sociopaths on 285B will think this is a great idea...

I just had to quote this, you were right on LJ.....the chief sociopath is applauding it.

archer wrote: If you like this idea so much, will you let the Republican Party take out life insurance on you? I'm sure yuou wont mind if some insurance company gets half the money.

Hey Stalker, too bad I don't have a government job with government pension. The pensions of government employees is the same as annuity - why don't you get upset about that?

Annuities are not illegal and is a great way to hedge risk. The point here....is the article is deceptive.

residenttroll wrote:

archer wrote: If you like this idea so much, will you let the Republican Party take out life insurance on you? I'm sure yuou wont mind if some insurance company gets half the money.

Hey Stalker, too bad I don't have a government job with government pension. The pensions of government employees is the same as annuity - why don't you get upset about that?

Annuities are not illegal and is a great way to hedge risk.

No they are not illegal, and in many instances good for the retiree......but do littlefor the retiree if someone else is getting the payments or your own family is not the beneficiary.

Look...the plan was stupid at the beginning...that's probably why it didn't get anywhere.....if we tossed out politicos because of stupid ideas....the Jackass party wouldn't exist.