HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » Yay!1 Ten yrs' data of Re...

Wed Oct 24, 2012, 10:03 AM

Yay!1 Ten yrs' data of Rethug power in TX shows Rethugism is all about "Trickle down"

Oh, but the Trickle-Down ain't the good stuff, it's the stuff the local taxpayers get to spend. May the TeaBaggers' heads explode with all the light bulbs flashing on in their tiny "brains"!1



[font size=5]In Decade of GOP Power, Cuts Moved Costs to Local Level[/font]


[font size=5]4th bankruptcy in Rick Perry's tech fund adds to total losses[/font]

AUSTIN, Texas (AP) — A fourth Texas high-tech startup that received taxpayer money through Gov. Rick Perry’s signature economic development fund has filed for bankruptcy, pushing the total losses in the $194 million portfolio beyond what the state says the fund has earned.

The collapse of bioenergy producer Terrabon Inc., which was awarded $2.75 million in 2010 and was backed by large Perry political donors, raises the question of whether the state’s Emerging Technology Fund that began in 2006 is now worth less than what taxpayers have put into it.

The state’s venture capital-like fund has raised concerns about accountability and transparency, including a critical report from the state auditor’s office last year. Perry’s political opponents have also hammered him over ties between campaign contributors and fund recipients.

Terrabon’s bankruptcy, which was filed in a Houston federal court in September, is the tech fund’s biggest bust to date and brings the total amount of failed investments to $5.25 million. In the fund’s 2012 annual report released in January, Perry’s office estimated that the portfolio’s 133 investments were worth $4.5 million more than what the state had handed out. ....


1 replies, 584 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 1 replies Author Time Post
Reply Yay!1 Ten yrs' data of Rethug power in TX shows Rethugism is all about "Trickle down" (Original post)
UTUSN Oct 2012 OP
txdemsftw Oct 2012 #1

Response to UTUSN (Original post)

Wed Oct 24, 2012, 10:08 AM

1. I want Rick Perry OUT!

My husband and I visit Austin a lot (feel more at home there!) and I have, on several occasions, stood out in front of the Capital building with my RICK PERRY NEEDS TO GO! sign.

I cannot stand that man.

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread