| Writing for the Huffington Post, reporters Jason Cherkis and Zach Carter published a jaw-dropping story yesterday about a scheme by Gov. Rick Perry (R-TX) to "set up a business of teacher death speculation." Perry and his officials entered negotiations in 2003 with the Switzerland-based multinational bank UBS to allow the firm to buy life insurance policies on public teachers, then package the policies into securities that could be sold to speculators across the world. As teachers died, the securities would become profitable, and the money from the plans would be split between UBS and the Texas government.
According to sources and notes provided to the Huffington Post, the Perry administration solicited support for the idea from teacher associations, and pressed a deal where teachers would receive between $50 and $100 to sign a contract granting UBS the right to bet on their death... |
Read the rest of the story HERE:
At thinkprogress.org
At thinkprogress.org
