Thursday, August 25, 2011

Rick Perry Wanted More Dead Teachers

In a "can you believe this" piece of reporting, the Huffington Post reports that Texas governor Rick Perry, egged on by former Senator Phil Gramm, was trying to convince the group that managed the Texas teachers retirement system to allow the state of Texas to buy life insurance policies on elderly retired teachers.  Essentially, it was to be a bundled deal of life insurance policies for a small group of investors (this to avoid public scrutiny).  Texas would have received some of the fees the banking group would have received from selling the securities.

This was never something that either the Texas retirement group or the Texas teachers' union was ever going to go along with but they were consulted early on.   The families of the deceased teachers would have received nothing.  Any teachers who balked would have been offered a free pair of shoes. 

What's interesting is that the teachers pension fund wasn't even in trouble.  It was funded over 94%, above the 80% that is considered healthy. 

I didn't see why they picked the teachers and not some other group of public employees.

Seriously?   Again with the disrespect to teachers? 

There are a lot of words to describe Rick Perry but gentleman is not one of them.

6 comments:

mirmac1 said...

This sounds like the "dead peasants" insurance in Michael Moore's "Capitalism: A Love Story". Just another way for investors to make money off the peasants.

seattle citizen said...

Plus, bonus, dead teachers no longer collect those god-awful pensions, so the tea partiers can hire some young, fresh, NON-UNION teachers without those dang retirement packages...

It's strange: They seem to want old teachers to go away, clearing the way for bright, new teachers, but they also want to take away pensions, etc, requiring everyone to work until they are dead.

Sahila said...

if you have to work as you're getting old, you'll die younger! another pesky problem solved...

Paul said...

Justr wait until the legislature re-convenes. You will hear more about similar proposals in this state as well.

Our governor has similar ideas. She just needs to dress them up "just so" to appear softer and moderate.

Don't you just love our progressive politics?

Anonymous said...

Do they get the gold in my teeth, too?

-JC.

Jan said...

No, seattle citizen -- they are not requiring people to work until they are dead. They have no problem whatsoever getting rid of older folks, and keeping them permanently unemployed. As long as they have voiceless, inexperienced young teacers who dare not challenge them -- and don't have to pay for a safety net for the old terminated ones.