The rabid left is pulling all the strings out in trying to find something that will hit Rick Perry hard and take him down. Seems that HuffPo has been given “secret meeting notes” from a “source that was there in 2003” about how Rick Perry and UBS schemed to “profit” from the life insurance on teachers who passed away.
Now having worked for a time in the insurance biz, this got me scratching my head but figured I’d take a bullet and painfully read through the HuffPo article.
There are so many potholes, turns, twists, and outright dead ends in this story, that it seems the author of the story had to make up a lot of stuff. The author obviously doesn’t understand anything about the insurance business and how it works. The way the author sets this up, it would pose a large risk of loss to AIG and investors who would buy into the bundled insurance products. AIG would not be that stupid. OK maybe stupid on other things, but not life insurance and annuities.
Doing a search on this story resulted in just about every kook left website out there posting the story. I was able to find one story from the Houston Chronicle back during that time where the Democrat’s only complaint was that Phil Gramm didn’t register as a lobbyist for UBS.
This story actually corrects some of the falsehoods of the HuffPo piece, but there are still other details I’m still trying to find. This story along with the Wal-Mart mention is interesting and will test my research abilities. If anyone else finds info, please post.