Rick Perry Life Insurance Scheme w/ Texas Teachers

this story will tell you what a disaster
would be if rick perry got elected it is a story of his questionable ethics
but i think even more importantly this isn’t ed the trust that he puts down on a very
questionable advisor so you do that is in a second first it’s a story of how he tried to
get their teacher or retirement fund in that texas specifically the texas teachers’
retirement system to buy into it scheme cooked up by a swiss bank this scheme involved uh… that swiss bank profiting from the
death of those teachers value everything you know camaraderie
can’t be true actually positively true now why and how well what they did was may realize that they can do this for public
employees what they were reviewing for private employees and private here cos
and may gotten a lot of trouble including wal-mart for this working out
life insurance on their own employees and then when they died big cash in on
that the they had different ways of profiting
from that because you don’t like this shows is a gamble right and but in they would reduce the gamble because they got tax benefits out of it so they
had found a way to basically get this huge tax benefit and if you know thirty people died but
earlier they would make even more money in fact in the texas case they wanted to
specifically injure insure retired teachers between the ages of seventy
five and ninety so they hurry up and i so this is an enormous some while you might say hey maybe the
teacher retirement central fund was in trouble and they needed except no they
were stacked up with the ninety four percent funding ratio is perfectly
healthy in fact they were trying to figure out where else they can put the
money if any money was in a comment how about the teachers really get a benefit
from it but didn’t get at bats they say well maybe wing if you fifty to a
hundred bucks but you know anything about what a
terrible idea this is because if you set up a system where the
bankers and to some degree that the government and benefits from people dying quicker they might be motivated you know and and we hope they wouldn’t
be but financial centers being what they are they might be motivated to make sure that i have is a little
quicker so how could they do that for example rick perry is governor cut uh… health care for retired teachers now look it’s complicated coding get
that’s cool that the legislature in texas and sarah would that exactly mean but why would you even take that risk in fact that’s why the private companies
got in trouble for example wal-mart they give terrible health care to their
employees and then they take out life insurance on
’em by the way it’s called and peasants
insurance that so the industry called something about how ronstadt is dead and
peasants insurance that’s how they view you right an asteroid terry what i do in texas so
hosed advisory came up with this brilliant idea now phil gramm’s a retired a republican
senator from texas uh… why uh… is phil gramm so
important uh… well he’s a guy who deregulated the financial industry in the first
place it was his idea during the end of the
clinton years and i this is the one thing that i thing clinton did massively
wrong by he agreed to those graham lead bills uh… where other banks got their regulation left
that and then guess what happened if phil gramm immediately when to go
work for a bank was sent to the manager of those that
deregulation to make much more money for their exact lives in the short term and eventually of course they collapse
and in the united states government and the fed to bail them out but who cares
phil gramm is but he’s made money in the meanwhile right so back in two thousand three phil gramm
said takes rick perry signs of i got a great money-making scheme for us and by the way also gives rick perry six-figure donation to his campaign what a wonderful cause it is everybody
in power gets pain and then when u di they get paid even
more now apparently rick perry thinks and i’m
gonna quote here that gary graham the is one of his advisers says quote
quote he considers graham and economic genius grad is the exact opposite he couldn’t
be that they’re probably i remember when
john mccain was running and there was talk about how with phil gramm i_d_
treasures hectic i said on that alone no one in their right mind should
consider voting for john mccain phil gramm if he got into power a or advise
anybody in power thanks laurent well shana over-used they
already do can you imagine getting worse the only person who could make it worse
is phil gramm and he’s a top economic adviser to repair and regarding the more
on that he’s looks up to what all my god why why do well you tell me something
changes and their fills us politics imagine
you’re headed to hear that it might be done in texas as integrated pest give us a lot of monica that’s texas politics for you every periods like the president were in
a world literal man this guy has no scruples there is nothing he won’t seem to and he is the world wars advisers

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