Alleging Gramm lobbied illegally, Dems seek probe

[Judi Lynn]

Jan. 10, 2004, 9:23PM

Alleging Gramm lobbied illegally, Dems seek probe
By CLAY ROBISON
Copyright 2004 Houston Chronicle Austin Bureau

AUSTIN -- Texas Democrats have asked Travis County prosecutors, as well as the Texas Ethics Commission, to investigate allegations that former U.S. Sen. Phil Gramm has lobbied illegally for policy changes affecting retired schoolteachers, state Democratic Chairman Charles Soechting said Saturday. (snip)

The Ethics Commission complaint alleges that Gramm broke a state law requiring him to register as a lobbyist before seeking changes in state law or rules necessary to get the new retirement scheme adopted. (snip)

A check of Ethics Commission records indicated that Gramm hasn't registered as a lobbyist in Texas since leaving the Senate. (snip)

Under the UBS proposal, the pension plan would buy annuities and life insurance policies on retired teachers and keep the proceeds when they die. (snip/...)

http://www.chron.com/cs/CDA/ssistory.mpl/metropolitan/2347203

[izzie]

1. Seems like things in that neck of the woods.

Did not Bush turn the college pension plans over to his friends to run? Of course, I am sure, the fund and people made no more but the guys running it got really rich. One need to check this out. Not sure where I read that but I bet when they were talking about part of SS into the stock market it was talked about.I am sure Bush must have put it unfit for the public to see.

[Judi Lynn]

2. More on the subject from AP

(snip) The Teacher Retirement System of Texas - which provides pensions and health insurance for retirees - is in the red and must generate a projected $5.2 billion, through investment gains or increases in employee contributions, to cover all future retirees.

Soechting, addressing the State Democratic Executive Committee on Saturday, called Gramm's proposal a "get-rich-quick" scheme.

"It's immoral, we're going to show that some of it is illegal and it's corrupt," he said.
(snip/)

http://www.miami.com/mld/miamiherald/news/breaking_news/7681759.htm

[Flubadubya]

3. Old Rethugs never die...

they just go on killing everything they touch. Gramm, UGH, one of the world's nastiest Puglicans.. EVER! x(

[tabasco]

6. Gramm is indeed among the lowest scum ...

that ever participated in American politics. He is a self-serving traitor who has done nothing good for this country, but much bad.

[0007]

4. Why didn't Phil Gramn get that Texas A&M job as president?

Was it because the school didn't want to be asoicated with the big time Enron crook Wendy Gramn?

http://www.villagevoice.com/issues/0203/ridgeway.php

Great article about two of the biggest crooks in Texas.

[Mikimouse]

9. I can answer that...

The faculty would have revolted if Gramm would have been approved. I was one of those who signed a petition that was circulating against his appointment. The man is a total pig.

[The Zanti Regent]

5. The boy can't help it!

Once a whore...

[CaptAhab]

7. Heh

The question I should ask then is how many Republicans did not resort to illegal election and lobbying practices?

[eyesroll]

8. Ugh. Businesses sometimes do this with "key employees" --

which makes sense. If the CEO or the VP of sales or the one guy in the whole company who knows how to retrieve lost passwords dies suddenly, the company will be likely to suffer a financial loss. In this sense, these policies are good, because they allow the company to keep running while everyone scrambles.

But for RETIRED teachers? Why would this even be legal? Why is it legal to buy insurance on someone without their consent? It's certainly unethical, in any case.

[SharonAnn]

11. It's called "Dead Peasant" insurance. I think Wal-Mart has

done this on their workers.

It's a way for companies to make money off the death of their employees (or retirees in this case?).

[mbperrin]

12. They HAVE missed another revenue source,

though. After the teachers die, they should grind up their bodies and put them on the market as ground meat!

Soylent green is.........

Why not go ALL THE WAY?

BTW, the reason the fund needs more money is because of the poor performance of investments in the Teacher Retirement System after privatizing to groups like UBS!!!

[The Backlash Cometh]

10. Phil Gramm and his wife Wendy should be behind bars.

Another example of privileges afforded to white (Republican) men.