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Texas Politics, WaMu, Countrywide and Messy Corporate Handout Stuff |
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Tuesday, 14 October 2008 |
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‘Governor Handout’ Trashes the Bailout
As the planet struggles to comprehend—and contain—the global meltdown of credit markets, Texans face the added burden of trying to understand their governor’s bewildering position on the crisis... With the $700 billion bailout hanging in the balance in Washington on October 1, the Texas governor who heads the Republican Governors Association issued a joint statement with the head of the Democratic Governors Association urging Congress to “leave partisanship at the door and pass an economic recovery package.” When local media reported this endorsement, however, Governor Rick Perry issued a statement that said, “In a free market economy, government should not be in the business of using taxpayer dollars to bail out corporate America.” Hitting a rare populist stride, Governor Perry added, “We’re certainly not interested in Washington bailing out a bunch of irresponsible mortgage brokers in an industry that has too often been run on greed.”....Trumpeting what he called the “crowning jewel” of the Texas Enterprise Fund at a 2004 press conference, Governor Perry awarded $20 million in taxpayer money to Countrywide Financial to create 7,500 Texas jobs over six years... Read Texans for Public Justice full report
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