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.
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