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09-21-2011, 11:47 PM
Former U.S. Senator Phil Gramm, a key figure in bringing about the present economic disaster, has shaped the life and financially sponsored the career of his protégé, Rick Perry, the Texas Governor and now leading Presidential candidate.
A potential Perry Presidency would put the most insane international mega-speculators, whom Gramm represents, into position to detonate and loot what remains of the U.S. and world economy.
Gramm taught economics beginning in 1967 at Texas A&M, where he befriended his rather slow student, Rick Perry. Gramm became Perry's guide into the savage philosophy of global financiers. When Gramm rose to power in the Senate, he connected Perry to a money apparatus that boosted Perry up fast behind Gramm.
The Gramm apparatus organized the little-known Perry's run for Lieutenant Governor in 1998. Perry's campaign finance director Jennifer Bannister, Senator Gramm's aide for the previous 10 years, pulled in millions of dollars.
Money and influence came to Perry through Gramm's moneybags, Texas multi-millionaire James Leininger: Leininger contributed big to that and later Perry campaigns; Perry made tens of thousands in stock deals with Leininger's company Kinetic Concepts, partly owned by Gramm's wife Wendy, the Enron director; and Perry netted huge sums in real estate deals involving Leininger. In his 2010 book Fed Up, Perry devotes a concluding chapter to thanking Leininger's "Texas Public Policy Foundation" (Wendy Gramm, chairman, James Leininger, Chairman Emeritus) for steering Texas thinking.
Chairing the Senator Banking Committee, Phil Gramm pushed through the 1999 Gramm-Leach-Bliley Act, repealing the Glass-Steagall Act and handing all bank deposits to offshore gamblers.
Perry became the Texas Governor when George W. Bush resigned to run for President in 2000. That year Senator Gramm pushed through the Commodity Futures Modernization Act, which kept derivatives free of government regulation.
In 2002 Gramm resigned from the Senate to reap his reward, becoming vice president of investment banking for UBS, in charge of connecting that Swiss financial giant to big money men. Gramm could now bankroll Perry's accelerated rise. The "Friends of Phil Gramm PAC" subsequently contributed over $600,000 to Perry's election campaigns for governor.
Gramm immediately went to work with Governor Perry on a scheme to enable offshore gamblers to bet on the death dates of retired Texas teachers. Perry pushed Gramm's 2003 proposal to the Teacher Retirement System of Texas: UBS would partner with the state of Texas to take out life insurance policies on elderly former teachers. The policies, put out through the insurance speculator-monster AIG, would pay off only when the retiree died. They were to be "bundled" into "securities" and peddled globally. Each retiree might be paid around $50 to $100, while Phil Gramm and UBS and AIG would score big on up-front commissions. The scheme collapsed as a Perry political embarrassment when teachers learned about it.
The financial system, without the protections which Phil Gramm had removed, exploded in 2007. AIG went belly up and got a hundred-billion-dollar U.S. bailout. In 2007, Gov. Rick Perry's son Griffin Perry went to work for UBS in its Texas office. UBS is now being sued for fraud in the latest multi-billion wild speculation scandal.
With the hapless President Barack Obama for a foil — continuing the bailouts and economic demolition — Rick Perry announced his Presidential campaign on August 13, 2011. Godfather Phil Gramm simultaneously announced his backing, calling Perry a man "who knows how to get things done."
Ron Paul voted against the repeal of Glass-Steagall, and also voted against the enactment of the Financial Security Modernization Act. Why hasn't the campaign or revpac said anything about any of the above? #1 Issue with the people is the economy.
A potential Perry Presidency would put the most insane international mega-speculators, whom Gramm represents, into position to detonate and loot what remains of the U.S. and world economy.
Gramm taught economics beginning in 1967 at Texas A&M, where he befriended his rather slow student, Rick Perry. Gramm became Perry's guide into the savage philosophy of global financiers. When Gramm rose to power in the Senate, he connected Perry to a money apparatus that boosted Perry up fast behind Gramm.
The Gramm apparatus organized the little-known Perry's run for Lieutenant Governor in 1998. Perry's campaign finance director Jennifer Bannister, Senator Gramm's aide for the previous 10 years, pulled in millions of dollars.
Money and influence came to Perry through Gramm's moneybags, Texas multi-millionaire James Leininger: Leininger contributed big to that and later Perry campaigns; Perry made tens of thousands in stock deals with Leininger's company Kinetic Concepts, partly owned by Gramm's wife Wendy, the Enron director; and Perry netted huge sums in real estate deals involving Leininger. In his 2010 book Fed Up, Perry devotes a concluding chapter to thanking Leininger's "Texas Public Policy Foundation" (Wendy Gramm, chairman, James Leininger, Chairman Emeritus) for steering Texas thinking.
Chairing the Senator Banking Committee, Phil Gramm pushed through the 1999 Gramm-Leach-Bliley Act, repealing the Glass-Steagall Act and handing all bank deposits to offshore gamblers.
Perry became the Texas Governor when George W. Bush resigned to run for President in 2000. That year Senator Gramm pushed through the Commodity Futures Modernization Act, which kept derivatives free of government regulation.
In 2002 Gramm resigned from the Senate to reap his reward, becoming vice president of investment banking for UBS, in charge of connecting that Swiss financial giant to big money men. Gramm could now bankroll Perry's accelerated rise. The "Friends of Phil Gramm PAC" subsequently contributed over $600,000 to Perry's election campaigns for governor.
Gramm immediately went to work with Governor Perry on a scheme to enable offshore gamblers to bet on the death dates of retired Texas teachers. Perry pushed Gramm's 2003 proposal to the Teacher Retirement System of Texas: UBS would partner with the state of Texas to take out life insurance policies on elderly former teachers. The policies, put out through the insurance speculator-monster AIG, would pay off only when the retiree died. They were to be "bundled" into "securities" and peddled globally. Each retiree might be paid around $50 to $100, while Phil Gramm and UBS and AIG would score big on up-front commissions. The scheme collapsed as a Perry political embarrassment when teachers learned about it.
The financial system, without the protections which Phil Gramm had removed, exploded in 2007. AIG went belly up and got a hundred-billion-dollar U.S. bailout. In 2007, Gov. Rick Perry's son Griffin Perry went to work for UBS in its Texas office. UBS is now being sued for fraud in the latest multi-billion wild speculation scandal.
With the hapless President Barack Obama for a foil — continuing the bailouts and economic demolition — Rick Perry announced his Presidential campaign on August 13, 2011. Godfather Phil Gramm simultaneously announced his backing, calling Perry a man "who knows how to get things done."
Ron Paul voted against the repeal of Glass-Steagall, and also voted against the enactment of the Financial Security Modernization Act. Why hasn't the campaign or revpac said anything about any of the above? #1 Issue with the people is the economy.