Skip to comments.State loan program that Perry touted had to be bailed out
Posted on 11/06/2011 6:24:44 AM PST by Kartographer
Over his eight years as Texas' farmer-in-chief, Perry oversaw a loan guarantee program with so many defaults that the state had to stop guaranteeing bank loans to startups in agribusiness and eventually bailed out the program with taxpayer money.
The state auditor panned Perry's claims of creating jobs and criticized Perry and his fellow board members at the Texas Agricultural Finance Authority for not following their own lending guidelines.
In some instances, the auditor said, Perry and the authority guaranteed loans to applicants with a negative net worth or too much debt. Citing growing debts, the auditor finally suggested that state officials consider dismantling the program.
Even as the first alarms were sounded, Perry defended the program, saying no taxpayer money was at risk, blaming others and claiming he had fixed it.
It only got worse.
(Excerpt) Read more at statesman.com ...
Is that same ACORN that Perry met with?
The American People want to leave you guys alone. Seriously. You guys have a wonderful life, but you guys keep cramming down Presidential candidates who insist of making Texas noticed. Forcing Bush on us was not awful but forcing Perry on us is a nasty thing to do. If you want to live you lives in peace than stop forcing your folks on us. Simple as that.
Well, you certainly hit the talking points nicely.
Here’s one for you. Since Herb Cain is actively promoting economic development programs, is he for:
And who are Cain’s masters?
The people of Texas did not “force” anything on you.
But you probably would not be happy living in TX. hee hee hee
from your bio:
“We hail from the great state of Pennsylvania.”
OK, but you have a flag of an Italy message board??
The people of Texas did not force anything on you.
Really? LBJ, Bush, and now Perry.....you keep sending your candidates out there to run for President. Why? You guys want to live quiet lives. As far as not happy living in Texas, I visited Texas before and really like the state but your property taxes are through the roof and probably worse than any other states.
You defend your idiot candidate by saying Cain does it too?
What are you 12?
Cain has never held office and so has no history of engaging in such practices.
Let me know when someone asks his campaign point blank if he would support such programs as Perry’s AG program in TX and he refuses to answer.
In the mean time you forgot to explain why Perry didn’t just answer “yes” (because you can’t without exposing your candidate)
Good question. Stationed in Italy but still born and raised in Pennsylvania. I retired in June and now live in Maryland.
Bogus argument. Property tax "percentages" are high, but property is much cheaper here, so actual property tax dollars are less. And No state income tax.
Same thing happened here we got the Waco Herold and then soon stopped that,now from what I understand that paper is owned by conservatives since people stopped their subscription's..We just got tired of paying for liberal rags so depend on Internet now..
If Perry doesn’t want to respond directly to a left-wing rag like the Statesman, why should I care? Perry believes states can spend money on economic development programs. Every state believes that. Is this somehow news? That’s very 10th Amendment for us real conservatives.
I do realize Herb Cain has no experience in governing. That makes him a non-starter for me.
I agree that homes are cheaper but still after the house is paid off you are still paying way more for the home then others. No state tax is zero in Florida and Delaware too but don't pay near what Texans pay for their property taxes. I know New Hampshire doesn't pay state taxes either but property taxes are probably as high as Texas or even higher.
He was asked about the programs on a federal level if he became President. You do realize he’s running for President right?
Perry will be asked again in a debate I imagine. We’ll see if he can spit out an answer then.
Cain’s lack of political experience is a concern, so is his 999 plan. Still better than the only one close to him in the polls, romney.
Gingrich has problems too but could move up.
Perry is toast.
You can have LBJ he was a jackass..
I am a born and raised Texan lived here so many years and lived in many other places..Lovesd the places and people I met along the way, but still love my home state the best..I learned along the way that you get by with most people by not lying, and treating them the way you wanted to be treated..Most of us here are very friendly and kind.
Hopefully it will come up in an upcoming debate to answer your question. I doubt that any candidate will pledge to get rid of HUD, other than Ron Paul.
As far as Perry being toast, we’ll see in February.
The part that made us stop subscribing was when they published an article on the lower part of page A-1 that was titled:
Third chimp escapes from Bastrop Facility
Next to the article, they had an image of then President G W Bush. I sent them a letter to the editor. It never made it into the letters to the editor.
Another nail in the coffin for the narrative of Rick Perry as the architect of Texas’s less-horrible-than-other-places economy.
We need an executive who can do the math on these kinds of boondoggles before they happen. Perry’s not it.
No biggie. I will take your insults as long as Perry NEVER wins the nomination for President of the United States. That is the least I can do for the country. I am just so happy that Perry screwed up because I believe had he not made a disaster of the debates, he would have been the nominee. Quite frankly, I need to appreciate Perry for being such a mess. I would have hated having him as President. It would have been a disaster for the country. Tell me that God is not in charge....he knows what he is doing and prayers work. I pray that Perry and Romney are not the nomination and he has been hearing my prayers....Thank God for that!!!!
Judge Not Lest Ye Be Judged!
Let Him Who is Without Sin Cast the First Stone