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State loan program that Perry touted had to be bailed out
AMERICAN-STATESMAN ^ | 10/22/11 | Laylan Copelin

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 ...


TOPICS: Business/Economy; Politics/Elections; US: Texas
KEYWORDS: amnesty; corruption; cronyism; formerdemocratperry; heartless; openborders; perry; ttc
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To: trebb

Is that same ACORN that Perry met with?


21 posted on 11/06/2011 7:22:19 AM PST by free me (heartless)
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To: Texas Fossil
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.

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.

22 posted on 11/06/2011 7:24:36 AM PST by napscoordinator
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To: free me

Well, you certainly hit the talking points nicely.
“crony capitalism”
“slush fund”
“Perry’s masters”

Here’s one for you. Since Herb Cain is actively promoting economic development programs, is he for:

“crony capitalism”
“slush fund”

And who are Cain’s masters?


23 posted on 11/06/2011 7:25:26 AM PST by magritte
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To: napscoordinator

The people of Texas did not “force” anything on you.

But you probably would not be happy living in TX. hee hee hee


24 posted on 11/06/2011 7:27:42 AM PST by Texas Fossil (Government, even in its best state is but a necessary evil; in its worst state an intolerable one)
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To: napscoordinator

from your bio:

“We hail from the great state of Pennsylvania.”

OK, but you have a flag of an Italy message board??


25 posted on 11/06/2011 7:30:12 AM PST by Texas Fossil (Government, even in its best state is but a necessary evil; in its worst state an intolerable one)
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To: Texas Fossil

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.


26 posted on 11/06/2011 7:30:41 AM PST by napscoordinator
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To: magritte

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)


27 posted on 11/06/2011 7:31:31 AM PST by free me (heartless)
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To: Texas Fossil

Good question. Stationed in Italy but still born and raised in Pennsylvania. I retired in June and now live in Maryland.


28 posted on 11/06/2011 7:31:58 AM PST by napscoordinator
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To: napscoordinator
your property taxes are through the roof and probably worse than any other states

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.

29 posted on 11/06/2011 7:37:25 AM PST by Texas Fossil (Government, even in its best state is but a necessary evil; in its worst state an intolerable one)
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To: Arrowhead1952
When we first moved back to Texas we moved to Round Rock Tx a few miles from Austin..Not knowing anything about the papers we did get the Statesman,that did not last long after we saw how liberal they were..We had just retired from the military..

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..

30 posted on 11/06/2011 7:41:55 AM PST by PLD
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To: free me

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.


31 posted on 11/06/2011 7:42:54 AM PST by magritte
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To: Texas Fossil
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.

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.

32 posted on 11/06/2011 7:46:21 AM PST by napscoordinator
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To: magritte

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.


33 posted on 11/06/2011 7:50:13 AM PST by free me (heartless)
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To: napscoordinator
Are you a two year old..You sound like my grandson sometimes..well Nana he made me do it..

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.

34 posted on 11/06/2011 7:51:09 AM PST by PLD
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To: free me

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.


35 posted on 11/06/2011 7:55:13 AM PST by magritte
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To: PLD
We basically subscribed to the AAS for the weekly sales and coupons on Wednesdays. I'd read the funnies and a few articles. Ben Sergeant's cartoons have always been hard left, but I did read some letters to the editor. Seldom were there any that criticized the paper for being left-wing.

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.

36 posted on 11/06/2011 7:57:33 AM PST by Arrowhead1952 (Dear God, thanks for the rain, but please let it rain more in Texas. Amen.)
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To: Arrowhead1952
Your profile page is so sweet..I love that man and Laura..That is a true Christian..Some of the pictures were taken at DFW weren't they? When him and Laura go to greet the service men and women that are coming home..
37 posted on 11/06/2011 8:03:41 AM PST by PLD
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To: Kartographer

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.


38 posted on 11/06/2011 8:03:45 AM PST by CowboyJay ("Rick Perry has more red flags than a May Day parade." - fieldmarshalj)
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To: PLD

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!!!!


39 posted on 11/06/2011 8:15:01 AM PST by napscoordinator
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To: napscoordinator

Judge Not Lest Ye Be Judged!
and
Let Him Who is Without Sin Cast the First Stone


40 posted on 11/06/2011 8:17:43 AM PST by PLD
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