Posted on 09/04/2011 8:08:05 AM PDT by BarnacleCenturion
On the campaign trail, 2012 presidential hopeful Rick Perry plays up his humble roots as a dryland cotton farmer from rural Texas. He rarely, if ever, mentions that he has become a pretty savvy real estate investor during his more than 25 years in office.
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.
When Perry was first elected to office in 1985, as a state representative from Haskell, he and his wife Anita were far from rich, reporting a total income of $45,244. To save money, the future governor shared an apartment in Austin with two other state lawmakers, while his wife worked as a nurse.
(Excerpt) Read more at businessinsider.com ...
These fools are so afraid of Rick Perry it isn't funny..Same with Sarah Palin she is such a great lady and they are trashing her all the time..Didn't these same people trash her..Go to hell if Perry or Sarah wins we will get back on the road of recovery..
I'd ask what planet you hail from, jenny? But after thinking for a second... it is evident it is one in a very tight Liberal Democrat orbit.
Go spread... your mole manure elsewhere.
It’s amazing how politicians like our communist Iowa Senator Tom Harkin can, over the course of a couple of decades, go from being the son of a coal miner and a lowly Capitol Hill staffer, to being a multi-millionaire with a compound in the Bahamas.
And Hillary Clinton can parlay a tiny investment into huge gains on cattle futures.
And Al Gore can become a billionaire.
And Rick Perry can go from a 45 grand per year position to quite well to do.
All on a relatively modest government salary.
These people are brilliant. Obviously a whole lot smarter than the rest of us.
/s
I don’t find this piece to be anything more than a statement of the facts.
Shades of Hillary Clinton and her futures contract windfall?
The way it really works is the insiders who control the development in a region make the young up and coming politician aware of where he or she might invest in land in advance of a major announcement of a new shopping center or manufacturing plant. The risk for these insiders, and those they bring into the know, is much less risky than the average person buying land hoping it will go up.
Nothing illegal here, no money changes hands. The politician might not even know what is coming. He just knows someone big in the development world has told him it might be good to buy some undeveloped land in a specific area of the county. He buys, a year later the new development is announced, and he sells the land for multiples of what he paid.
It happens everyday in America. Former Republican House Speaker Dennis Hastert was a master at investing in land and then earmarking road projects near his investment land.
Land deals and politicians are as old as the Republic. It is the easiest way for those seeking influence to put money in a politician’s pocket without creating any air of impropriety.
Hey, it’s a phenomenon we see throughout the political establishment, from all the state capitals to DC.
If they’re not already very wealthy when they get elected, it won’t be long until they are.
Generally speaking, of course.
You're right, we don't care. The fact that it exists at all is reason enough. Plus the most glaring thing is he hasn't renounced it as a mistake. No regret, no "come to Jesus" moment. He flat out supports in-state tuition for illegal immigrants.
That makes him positively, absolutely, most certainly not fit to be President of the United States.
He oozes crony capitalism and status quo.
I’m thinkin’ the same thing. Heck, if that opportunity came my way I’d take it too.
I suppose that the writer of this article is trying to make Perry look bad, but I think it indicates that the man is savvy, and that’s good. Better than that doofus in the WH who got all his money from salary.
about Gov Perry designed to make him look like a corrupt wheeler dealer. Oddly enough the people who post these facts never post anything positive about any other candidate except, in a few cases, Palin.
Can you supply us with information about how Harry gReid was able to become a millionare when he started out as a represntative of the Nevada stae gambling comission?
How about how Obozo was able to afford that little hovel in the heart of Chicago and who cosigned the loan for that?
Generally speaking, of course.
I would only ask you if it’s not possible that some people simply have differences with some of his policies? Why must everyone be put into a neat little box? I am so sick and tired of the way we play politics. It is exactly what the liberals want us to do. We need to vet our candidates before we send them out against Obama.
I think it was an unbiased report. Where are you seeing bias to make him look corrupt?
btw - as of right now, I’ll be voting for Perry. I’ve seen biased threads posted in the past and commented. I don’t see it here.
“So Perry saw opportunities,took the risk, invested and they paid off and now he is rich....I do not get why thats a negative.”
It’s not.....unless he was unethical in order to make money. However, I doubt that. Being rich is something Marxists usually see as a negative...even if the rich person is virtuous.
Hello,
Obama’s friend Rezko, Chicago Housing development.....
Perry’s friend Dell, Oil company bosses ...........
Both are brilliant investors. LOL
I forget, they use Tarot card for investments. LOL
There are zillions of ways to profit from do-good multi-million govt programs. Congressmen organize tax-exempt "non-profits" and "do gooder- foundations" back in their districts.....to hide "earmarks," kickbacks, bribes and other graft. Accounting fraud rules: n/p budget items such as: "maintenance, building expansion, janitorial, public relations, legal fees, administration," and the like.
Multi-million dollar govt grants to the district are easily converted......deposited in reserve accounts that a bank is then directed to redeposit in another account.
HERE'S HOW MADOFF DID IT Madoff's Ponzi theft was found in a super-secret labyrinth of interrelated international funds, institutions and financial entities of almost unparalleled complexity and breadth......with assets and businesses in multiple places overseas that hid thievery, money laundering and tax evasion.
All of this is easily facilitated with co-conspirators directly or indirectly, singly or in concert, using government computers, government computer technicians, by use of financial instruments, investment vehicles, ........utilizing the US mails, electronics, wire transfers, computers.
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REFERENCE How to Go to Congress and Become a Millionaire
Townhall.com | May 26, 2011 | John Ransom
FR Posted Thursday, May 26, 2011 by Kaslin
Ever wonder how people go to Congress and become millionaires? A new academic report clears it up for us. A report from four scholars, Alan J Ziobrowski; James W Boyd, Ping Cheng; and Brigitte J. Ziobrowski, titled Abnormal Returns From the Common Stock Investments of Members of the U.S. House of Representatives, shows that between 1985 and 2001 members of Congress enjoyed a considerable advantage over members of the public in their investment returns. The article was published by Berkeley Electronic Press and is a follow up to a similar study done on investments by US Senators.
A previous study suggests that U.S. Senators trade common stock with a substantial informational advantage compared to ordinary investors and even corporate insiders, says the introduction to the report. We apply precisely the same methods to test for abnormal returns from the common stock investments of Members of the U.S. House of Representatives.
We measure abnormal returns for more than 16,000 common stock transactions made by approximately 300 House delegates from 1985 to 2001. Consistent with the study of Senatorial trading activity, we find stocks purchased by Representatives also earn significant positive abnormal returns (albeit considerably smaller returns). A portfolio that mimics the purchases of House Members beats the market by 55 basis points per month (approximately 6% annually). Actually 12 times .55 percent comes out to 6.6 percent annually. That .6 percent return accounts for an additional $130,000 over a 17 year period.
So how lucrative can the 6.6 percent advantage be for Senators and Representatives?
A portfolio of $100,000 getting average stock market returns of 11 percent over a 17 year period would have grown to $589,000. If you were a member of the United States House of Representatives, though, enjoying the advantage that inside government information can bring you, your portfolio would have reached $1,573,000, according to an investment calculation I did using the finding from the study. Assuming only average market returns for the next 20 years, a Representative would grow their portfolio to close to $13 million. --snip--
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THE OBAMA BAILOUTS---$$$ TRILLION GOVT FRAUD Why Obama gets that smirk on his face.
Just looked at his holdings.
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