Understanding Enterprise Fund may require history lesson

[white cloud]

OK, here’s a question in the governor’s race:

Can Democrat Bill White convince Texans that Republican Gov. Rick Perry’s use of Texas Enterprise Fund grants is an echo of Sharpstown?

Folks younger than 40 probably know Sharpstown is a southwestern suburb of Houston. But around the Texas capitol, Sharpstown is shorthand for a pay-to-play scandal that caused a total rearrangement of Texas government in the 1970s.

The deal, revealed after a federal investigation, was that Houston developer Frank Sharp (who named the suburb, and a bank, after himself) was at the heart of what became known as the Sharpstown Stock Fraud and Banking Scandal.

Basically, Sharp, a real estate developer, banker and insurance company owner, wanted his bank to be able to loan him more money.
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http://www.reporternews.com/news/2010/aug/04/understanding-enterprise-fund-may-require-a/

[sonias]

1. Works for me, but of course....

I do know my history and know about Sharpstown. Unfortunately those days of turning out the rascals after they've been shown to be on the take, is long past. Voters hardly seem to care that one politician or another is enriching himself through his political connections and power. Or surely Perry would already be toast. :shrug:

But good on Dave McNeely to remind us! :applause:

[sonias]

2. Let's go back to a recap of the Slush Fund too

Texas Observer 5/11/10
Slush Fun
At least one Texan has benefited from Rick Perry's Enterprise Fund.

For the past six years, Texas Gov. Rick Perry has lorded over a controversial stash of taxpayer money known as the Texas Enterprise Fund, dispensing huge sums—$345 million and counting—to large corporations, ostensibly to spur job growth. Critics call it the governor’s slush fund. “He takes from us so that he can play with his corporate slush fund and award his friends’ businesses,” said Debra Medina, one of Perry’s two challengers for the GOP gubernatorial nomination, at a recent candidate’s debate.

Perry defends the fund as a much-needed economic-incentive program. He credits the disbursements with creating 55,000 jobs in Texas and helping keep the state’s economy out of recession. Whether the program has boosted the state’s economy depends on your point of view. But at least one Texan has greatly benefited from Enterprise Fund outlays — Rick Perry.

(snip)
The 20 companies have received a combined $174.2 million from the Enterprise Fund. During the same time period, those 20 corporations have donated $2.2 million to Perry and the governors association. Several companies made donations around the time they received grants from the Enterprise Fund. It’s even possible that taxpayer money from the fund came full circle into Perry’s own campaign.

Perry treats the TEF like his own personal treasury, he gives money to companies who in turn give some of the money back to him in the form of campaign contributions. That just doesn't pass the smell test. He's "laundering" tax payer money to go to his campaign coffers, essentially. :mad:

If Perry had any ethics - he would make it a rule, never to accept campaign contributions from any company that received TEF grant money. But of course he doesn't have any ethics so he always has his hand out to those people who he "helped". :eyes: