Top Democrat Urges Perry To Abandon 'Death" Business

[Don_G]

The chairman of the Texas Democrat Party called on Friday called to Gov. Rick Perry to terminate discussions to have the state purchase life insurance policies on thousands of retired teachers in order to earn the death benefits.

"It is outrageous that Rick Perry would try to put the state of Texas into the death business," said Charles Soechting.

"You don't fund state government by taking out life insurance policies on retired teachers and cashing in upon their death."

More: http://www.chron.com/cs/CDA/ssistory.mpl/business/2275035

[impeach the gop]

1. In one ear, out the other

n/t

[lindashaw]

2. We here in Texas have always been in the "death business."

Don't you know that Governor Bush operated the Killing Fields for years at Huntsville? This latest is only a variant strain of an old sickness.

[izzie]

3. I think it was Texes corp that were doing these things also

Buying up Graveyards and funeral homes.I knew I read it years ago and it stuck in my mind. Why would a town sell off its bural grounds and to MacDonoldize funeral homes was to far out for me.But guess it is big business. I also know water works and parks are being sold to corp. People had better start looking at these things. If corp control things we need we will give our first born child to use them.

[DemoTex]

9. Sounds like SCI (Service Corporation International) of Houston

They are in big trouble right now for "overbooking" pre-need cemetaries in Palm Beach and Broward counties in Florida. They are also accused of desecrating graves in Jewish cemetaries that they run.

Remember "Funeralgate?" That should have sent Bu$h to the slammer, or at least stopped his candidacy for president. Bu$h refused to testify in a lawsuit by an ousted Texas state employee as to what his involvement was in halting an investigation into SCI's embalming practices, among other things. Of course the SCI CEO was a big Bu$h contributor and longtime family friend (Robert Waltrip). Texas AG John Cornyn (now US Senator) facilitated the ultimate ruling by a Texas judge that Gov. George W. Bu$h could not be forced to testify in a lawsuit by an ousted state regulatory official who contended she was fired for investigating a funeral home company headed by the Bu$h political supporter.

Teflon.

[Waistdeep]

4. What am I missing here?

The average cost of life insurance benefits should be the same as the premiums paid (minus insurance company profits).

Someone, please explain to me how such a notion is anything but a gift to insurance companies. Is there anything I'm missing?

[DesignGirl]

5. Walmart

He must have got this idea from Walmart. They do this to all their senior employees.

[pinto]

6. may be Viatical aggreements:

Someone buys a policy for 50-60-70% of face value and is named beneficiary. Seller (the insured)gets cash. On the insured's death the beneficiary gets 100% value of policy.

[mbperrin]

7. Well, this would explain why they just made Texas teacher health care

even shittier than it used to be!

Good ol' Phil, still doin' the devil's work!

Wondered exactly where that carpetbaggin' fucker had gone!

[DemoTex]

8. Ricky Perry doesn't listen to "top" Democrats. Never has, never will.

Little Ricky listens to corporate fat cats and his GOP bosses (Phil Gramm falls in both categories). He might listen to public opinion, if the hue and cry is ineluctable.

What a bunch of rapacious Fat Bastards we have running Texas and the USA. The looting is totally pervasive and ubiquitous. The stench of these bottom feeding hypocrits is sickening.

[aquart]

12. More or less corrupt than the Reagan admin?

I'm thinking, MORE.

[Hobarticus]

16. Hell with corrupt...

It's downright evil.

Then, you can conveniently cut healthcare benefits so that the payout date grows even closer.

There's gotta be a circle of hell set aside just for this sort of thing.

[MrPrax]

10. Maybe Arny should check this out

Instead of issuing a bond for the debt...he could simply get a bunch of 'death' insurance on state employees...and then kill them off...

There is a creepy dystopia novel somewhere in here...death-squads knocking off senior civil servants and making it look like an escalating crime rate, thus spurning on more prison and law enforcement spending necessitating more 'death' insurance policies...etc etc.

[salin]

11. The plan isn't detailed... is it like Walmart's ... where the company

takes out life insurance (where the company is the beneficiary) on workers, and the 'benefits' were used to pay for executive compensation... So the executive benefits (through benies) even if the company policies (lets just use worker safety for the example) were what to cause the death? Yuck.

... in this case the retirement fund takes out life insurance (do the retirees even have a choice?) that pays out to the retirement fund itself (not to the retiree's family). Then does there become a sick incentive to offer poor health coverage to the older retirees as their death would result in increased income for the fund itself?

[Don_G]

13. Would That Require

An executive order on the Gov's part or an after-action review like the troops went through in Vietnam?

Either way, we're screwed now and will be until ShrubCo no longer has a "paid opinion" in our democratic process.

[mbperrin]

14. This would be the thousands of ordinary retired

teachers who just got their health benefits cut because of "bad investments" also orchestrated by UBS! Boy hidy, this privitization bidness is somethin' else, ain't it? First, take away the right to invest state money from the state treasurer and give it to private groups whose doings are not subject to state open records acts, so that you can't find out exactly what was invested in. Hell, you can't even find out the performance of each individual fund, just the overall total. Then, when the Teacher Retirement System has lost $400 million in one year, suggest buying life insurance on each retired teacher so that when they die, the state gets the money! Just previous to this, cut the already-shitty health benefits to the same group!

Thanks, Phil! Thanks, Perry! Thanks to the rest of the greedy fucks as well! For nuthin!

(In case they don't die fast enough, we could require them to have targets tattooed on their foreheads at their retirement ceremony so that they'll be easy to spot later. I mean, hunting season IS open, isn't it?)

[mbperrin]

15. Umm, forgot to mention...

after they're dead, they could also grind up the bodies and sell them by the pound to the dog food factory!

[enki23]

17. tell me where i got this wrong...

how in hell would texas "make" money off buying insurance policies?

how does insurance work again? you know, that whole "pooled risk" and "risk aversion" thing? insurance providers make money, right? and they make it by getting people to pay in more than they have to pay out, right? yes, they get some return on investment for the money in the meantime, but i really doubt that covers all the difference. and texas could invest the funds directly as well, and not pay premiums for insurance companies to do it for them. right?

how in hell would there be net "revenues" from this scheme? what am i not getting? or is this just a way to funnel state funds to insurance providers? do they contribute well to his campaigns?

.confused