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 ...
American Statesman a democrat rag..They loved Ann Richards and her ilk..
It’s becoming obvious that if “Other “ were on the ballot this time, he/she’d win a landslide.
So has gone much of the rest of the economy as of late.
Still not dissing attempted job creation.
Yep. And they are Anti-Texas. (Austin = the Left coast of Texas)
All taxpayer money is always used for political patronage, that’s why we need the smallest government possible for survival of our culture. The only variable is how much good the general public gets from it. Nowadays it is a very small amount indeed.
Perry is a ruthless, unconscionable conman-he will advance himself no matter who is forced to pay the price. Sure, politics is a dirty gamebut Ricardos brand of politics is more like its played in banana republics.....Sierra Leone and Nigeria come to mind.
PERRY'S THIRD WORLD POLITICS He forced the state to medicate little girls' genitals----and blithely used eminent domain o take land from Texans to give to a Spanish company building the Trans-Texas Corridor. Perry's cut of the TTC deal musta been humongous.
Perry manages to stay in the 2012 race despite sinking to the bottom of the pack b/c he has millions of dollars----and b/c his rich Mexican and Islamic friends are hellbent on putting him in the WH.
Perrys squalid ambitions-----particularly in showing up and stomping over the winners of the Iowa straw poll----- show definitively that Me-first Perry is a Lone Wolf.
I could post an article about the same thing from the Houston Chronicle, is that a anti-Texas rag too?
“The Perry campaign did not respond to questions about whether Perry, as president, would use public money in economic development programs...”
Why didn’t he immediately answer no? Because the people who run him, his donors, are counting on such programs.
Austin is where your strange people from other states move there and Houston..
I am not talking about the true Texans or the true Americans that move here to Texas to find work..Just the trouble makers..
Yes sir it is...Most of your papers in Austin and Houston are democrat rags..
He won’t say no because he’s not an idiot. There will always be public money in economic development programs. No candidates, other than perhaps Paul, would ever make such an stupid declaration.
Texas is not where you were born, but a State of Mind, Heart and Attitude.
Goes something like this:
Leave us alone to live our lives in peace and we will get along fine, if that is not satisfactory, we will deal with it.
Is Business Insider a Democrat rag? I could post the same type story from there.
I found this doing a search on Yahoo..
Such programs caused the current economic crisis and only a corrupt moron like Perry would refuse to swear off them.
Lol...that’s the difference between debate society conservatives and real world conservatives. Real world ones don’t pretend that reality doesn’t exist, and know the world is not full of skittles and unicorns.
Economic development programs aren’t going anywhere. Even Herb Cain is all in for them. Is he not a conservative?
A couple of our neighbors still subscribe to the Austin Un American, Ultra Liberal, Longhorn Sports, Non Statesman. One says he has to know what the enemy is up to. They used to throw "sample" papers in pink plastic, but quit since most of those were left in the driveways and run over by people like me.
Real conservatives don’t want anymore crony capitalism.
Note that your moron of a candidate didn’t answer the question “yes” either. Why not if such slush funds are as popular and permanent as you say?
Because the public wants them gone and Perry’s masters are paying him to provide more of them.
You are tireless - similar to ACORN.
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
"The Fort Worth Star Telegram reports that Perry's income has soared as he has climbed the political ladder in Austin, thanks largely to a handful of lucrative real estate deals that have made him a millionaire. "
BTW, the lady with the red folder at the very bottom is my 63 year old cousin. I met her at church.
you are a very angry little man and see problems with everyone but yourself
I am angry with a liberal in the White House. I want to ensure that a liberal like Romney and Perry are not a replacement for Obama. As far as seeing problems with everyone but myself, I am not running for President. I don’t even know what you are trying to say. Am I blaming you for my problems????? You need to reread your post because it does not make any sense.
v. swin·dled, swin·dling, swin·dlesv.tr.1. To cheat or defraud of money or property.2. To obtain by fraudulent means: swindled money from the company.v.intr.To practice fraud as a means of obtaining money or property.n.The act or an instance of swindling.Mozilo's Countrywide had been the first to embrace the homeownership push back in 1995 and had therefore becomea central player in Clinton's public-private partnership.And since 1998, Countrywide had also become crucial to the fortunes of Fannie Mae, and the personal wealth of Fannie employees who received special mortgage deals from the lender...
--Reckless Endangerrment; pg 182"Angelo Mozilo, thank you"--Governor Ricar(D)o Perry--Tuesday, December 14, 2004
Demo rag or not, I find Perry to be a dishonest, self indulgent, ninny who I wouldn’t buy a used car from, much less vote for as POTUS.
He’s at the bottom of the barrel Perry followers, and only because he has the funds to continue making drunk sounding comments (much like a spoiled rich kid who has yet to grow up) does he appear in the media.
He can continue to waste money, his and the donors who blindly follow and make excuses for him, but he is done. I expect that he’ll finally admit that little tidbit by mid December.
I love that picture..
Such true Christians and loving people..God Bless them both!!
No I consider myself as being ‘Heartless’ like others that oppose Perry are.
I’m thinking more fannie and freddie and solyndra but yes we’ll see.
Ah, got it. The phrase is most commonly used in HUD-related funding and not with Freddie and Fanny and the like. We’ll see if there is a more direct question about these specifics, and not a generic question like was asked of Perry by the paper.