Complaint on Gramm's lobbying to be reviewed

[Judi Lynn]

Jan. 23, 2004, 10:43PM

Complaint on Gramm's lobbying to be reviewed
By CLAY ROBISON
Copyright 2004 Houston Chronicle Austin Bureau
AUSTIN -- Travis County Attorney David Escamilla said Friday he will review a Democratic Party complaint that former U.S. Sen. Phil Gramm illegally lobbied state officials for changes to a state pension fund for schoolteachers.

The complaint, filed by Texas Democratic Chairman Charles Soechting, alleges that Gramm, now a vice chairman with UBS Investment Bank, failed to register as a lobbyist with the Texas Ethics Commission.
(snip)

Gramm, who joined UBS after leaving the Senate in December 2002, started lobbying state officials last year on a UBS plan to use life insurance, annuities and bonds to help the $80 billion Teacher Retirement System of Texas close a $700 million shortfall in its retiree health benefits program. The plan now is funded by state and individual contributions into an investment pool.

Under the proposal, which has drawn fire from teachers groups, the retirement system 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/front/2369029

[Catherine Vincent]

1. I heard Al Franken imitate Phil Gramm at one of those

correspondence dinners and I laughed so hard I had tears in my eyes.