What is the Rick Perry "Teacher Death Bond Scheme"?

C_Clayton_Jones

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In a Republic, actually
"Sullivan is classic example of the way Perry works," explained Andrew Wheat, research director with Texans for Public Justice. "There's a coterie of insiders that move back and forth between the governor's office, the governor's campaign and the corporate lobby. ... It's a beautiful relationship for everybody except the public."
Noting illegal, perhaps unethical, no direct ties to Perry, obviously, but indicative of the fact Perry is a corporate politician, businesses are his constituents, not the people of Texas.
 

JoeB131

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So i guess I'm not getting this.

Why would an insurance company HOPE the teacher's die?

That doesn't make any sense, does it. Insurance companies hope you live a long time and they keep getting premiums until they can dump you off on someone else because you are too old, or your policy reaches maturity.

But there is that liberal fear that someone might actually make money providing a service.
 

editec

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Perry is just another INSIDER TOOL, folks.

If he wasn't you folks wouldn't even know his name.

The fact that he was a lobbyist ought not to surprise us.
 

JoeB131

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Perry is just another INSIDER TOOL, folks.

If he wasn't you folks wouldn't even know his name.

The fact that he was a lobbyist ought not to surprise us.
Why do you say "Lobbyist" like it's a bad word?

I wonder why you guys didn't asnwer my question, why would the insurance companies sign on to a scheme that would cost them money?
 

Mad Scientist

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Apparently they needed the retiree's permission:
Rick Perry Sought State Profits From Teacher Life Insurance Scheme
All they had to do was convince retirees to let UBS buy life insurance policies on them. When the retirees died, those policies would pay out benefits to Wall Street speculators, and the state, supposedly, would get paid for arranging the bets. The families of the deceased former teachers would get nothing.
While this looks unethical I'm sure it's perfectly legal. Unless they then hired hit teams to go after the retirees!

Sidebar: Did you know that if you own a home your mortgage company has multiple insurance policies that protect them if you default on your house? They can can get paid MORE that if you actually paid it off so it makes sense (for them) that they would give you a loan that they know you CAN'T pay off!
 

TexArcher

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Perry is a scumbag. I urge all Republicans to do some research on this guy. If you want Obama out, fair enough, vote for Romney or Paul. Perry will drive this country straight into the ground. Trust me, I've lived under his Governorship for almost 11 years. He hasn't accomplished anything except making a lot of money for himself and his cronies.
 

editec

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Perry is just another INSIDER TOOL, folks.

If he wasn't you folks wouldn't even know his name.

The fact that he was a lobbyist ought not to surprise us.
Why do you say "Lobbyist" like it's a bad word?

I wonder why you guys didn't asnwer my question, why would the insurance companies sign on to a scheme that would cost them money?
Don't you understand how insurance companies make money?

It's not going to cost them money.

In aggregate the insurance company will make more money than it pays out.
 

Mad Scientist

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Perry is a scumbag. I urge all Republicans to do some research on this guy. If you want Obama out, fair enough, vote for Romney or Paul. Perry will drive this country straight into the ground. Trust me, I've lived under his Governorship for almost 11 years. He hasn't accomplished anything except making a lot of money for himself and his cronies.
Agreed, except Romney is no better.
 

percysunshine

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What is the Rick Perry "Teacher Death Bond Scheme"?

Obviously, the figment of a bored imagination.
 

JoeB131

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Perry is a scumbag. I urge all Republicans to do some research on this guy. If you want Obama out, fair enough, vote for Romney or Paul. Perry will drive this country straight into the ground. Trust me, I've lived under his Governorship for almost 11 years. He hasn't accomplished anything except making a lot of money for himself and his cronies.
Sooo, um, how was it he got re-elected three times if he was sooooo awful?
 

JoeB131

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It's a legal scheme...scummy and unethical, but legal. How long before Governor Skeletor in Florida tries it?
I'm sorry, were they actually whacking the teachers to collect the insurance money?

Actually, a lot of private companies already insure their employees in the same way... These are called "Dead Peasent" Policies but they are largely hedges against the lost of productivity and costs to replace.

Now, mind you, if they were whacking the lazy, unionized, Ritalin dispensing drones in public education, or at least the inept ones who think that a 20% illiteracy rate in HS Graduates is a good thing, you might be on to something here.
 

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