By Gary P Jackson
Horsehoe Bay is is a beautiful resort community about an hour west of Austin in the Texas Hill Country. Nestled on the shores of Lake LBJ, Horseshoe Bay is a wonderful place. Waterfront homes are worth millions of dollars. It’s simply beautiful country and has been called “Texas’ Pebble Beach.”
It’s also the place where corrupt land deals have been known to happen.
I’ve been looking into some of the real estate deals Rick Perry has made over the years. Real estate is where Perry has made his money. Nothing wrong with that, per se, but there are a few deals that are highly suspect.
Conservatives were justifiably upset over the land dealings between Barack Obama and Chicago slum lord Tony Rezko. Perry has multiple deals that fall into the same category. We’ll discuss them all, further, but for now, I want to concentrate on the one in Horseshoe Bay, because it’s particularly troubling.
In fact, when you look at the number of people involved, including people appointed to high office by Governor Perry, people directly involved in this real estate deal, the Obama/Rezko deal looks damned near legit!
First, let’s look at some of the players in this deal:
State Sen. Troy Fraser: Boyhood friend of Rick Perry. Fraser has his own problems stemming from this deal, including an apparent violation of a state ethics rules, according to a review of his personal financial statements.
Alan Moffatt: Owner of now-defunct Peak Aviation, a company investigated by the British government for arms shipments to Rwanda during the time of the genocide.
Doug Jaffe: Businessman and owner of Horseshoe Bay Resort. Numerous business ties to individuals under federal investigations and foreign dictators, including business partner, oilman Oscar Wyatt, who went to prison in 2007 for paying kickbacks to Iraqi President Saddam Hussein.
Jaffe was also an investor in a struggling San Antonio aircraft business that Governor Perry approved to receive $2.5 million from the Texas Enterprise Fund. The company, Sino Swearingen Aircraft Corp, which had the potential be another “Solyndra” type deal. We reported earlier on Convergen LifeSciences, which is absolutely Perry’s “Solyndra” Only the fact Sino Swearingen withdrew it’s funding request after having a massive lay-off saved Perry from yet another scandal.
Ron Mitchell: Horseshoe Bay resort vice president, who connected the offer from Moffatt to Perry. In 2009 Perry appointed Mitchell to the Texas State University System Board of Regents.
In question is a .68 acre lot with 35 ft of access to Lake LBJ.
In 2000 Senator Fraser bought two lots from Jaffe in the luxury subdivision Horseshoe Bay Resort for $700,000 and $300,000, his offered prices. Fraser bought the smaller lot with the intent to then sell it to his friend, then Lt. Governor Perry.
About six months later, Perry bought the property from Fraser at cost plus interest for $310,762. According to a study by expert appraisers commissioned by the Dallas Morning News, the selling price hugely undervalued the lot.The market price was around $450,000.
In 2007, Perry sold the property to Alan Moffatt, a business partner of Doug Jaffe’s, for $1.15 million. Independent review shows the market value of the property at the time was about $850,000.
Profit of $839,238 or $489,238 more than he would have made using fair market prices
Now there is nothing wrong with buying and selling real estate, nor is there any law saying you have to buy or sell at market value. In fact, whether you are selling real estate, automobiles, or anything else, the worth of what you are selling is determined by what someone is willing to pay for it. Nothing more
This would be a non-story, if it wasn’t for all the dealings that went on before, during, and after the sale.
From the Dallas Morning News: [emphasis mine]
Three years after Gov. Rick Perry’s biggest real estate score, questions persist about whether the governor benefited from favoritism, backroom dealing and influence-buying.
The Dallas Morning News found evidence that Perry’s investment was enhanced by a series of professional courtesies and personal favors from friends, campaign donors and the head of a Texas family with a rich history of political power-brokering.
Together they may have enriched Perry by almost $500,000, according to an independent real estate appraisal commissioned by The News.
The governor’s staff insists these were routine, legal deals that were properly handled. They point to a bank’s appraisal, done when Perry sold his land in 2007, that said the buyer was paying Perry slightly less than market value.
Experts hired by The News dismissed that appraisal as “unsupported” and said it did not meet professional standards. County tax appraisals at the time also indicated that the governor was able to buy the land below market value and sell far above it.
[ …. ]
At the center of the dispute is a gently sloping, half-acre grassy lot on the shore of Lake Lyndon B. Johnson in the Texas Hill Country resort of Horseshoe Bay. The resort is owned by Doug Jaffe, whose family has long, deep and sometimes controversial ties to Texas politics.
Jaffe’s company had sold the parcel to state Sen. Troy Fraser, R-Horseshoe Bay, a friend and political ally of Perry’s. Fraser sold the lot to Perry for just above $300,000.
An appraiser hired by The News determined that the land actually was worth $450,000 when Perry bought it.
Perry sold the property in 2007 to Alan Moffatt, a British national who is a business partner and close associate of Jaffe’s.
Moffatt, as the owner of an aviation firm, was questioned, but never prosecuted, for his company’s international arms shipments to Africa in the 1990s.
[ …. ]
Moffatt denied that anything improper occurred in the transaction. “It just happened that the governor of Texas owned that lot,” he said. “It was a good deal for me.”
If Perry was deemed to have received any gifts, he would, as a state officeholder, have been required to disclose them. He did not do so.
Perry has portrayed himself as one of the most financially transparent governors in Texas history, and has attacked Democratic nominee Bill White for not releasing all tax returns.
Republican Perry, running for re-election to a record third four-year term, has been criticized by political opponents, including GOP Sen. Kay Bailey Hutchison, for enriching himself via land deals while in office.
The head of a nonpartisan, nonprofit organization that promotes transparency in government said Perry’s Horseshoe Bay transactions look questionable.
“The man on the street on this would think that this is a series of deals that smell of special favors being created for elected officials to curry their favor,” said Ellen Miller, executive director of the Sunlight Foundation in Washington, D.C.
Of course it looks like like a corrupt deal! There is more on Jaffe: [emphasis mine]
The Perry deal was hardly the first time the Jaffe family has operated among shadowy businessmen and influential officeholders.
For the Jaffes, it has been a way of life.
‘Wheeling and dealing’
Doug Jaffe and his late father, Morris, have built widely chronicled reputations as big-money backers of Democratic politicians going back to Lyndon Johnson’s days as a U.S. senator. Johnson and Gov. John Connally were occasional dinner guests at the Jaffe mansion in a San Antonio suburb.
Morris Jaffe, who died in 2001, rose from poverty on San Antonio’s west side to create an empire that included oil and gas exploration, real estate, a department store chain and an insurance firm. Among his business partners was Houston oilman Oscar Wyatt, who went to prison in 2007 for paying kickbacks to Iraqi President Saddam Hussein.
The Jaffes were implicated in a federal investigation of billionaire rancher Clinton Manges, a protegé of legendary South Texas political boss George Parr. Manges was convicted of using the mail to file false claims with a state land official to retain an oil lease for the Jaffes.
“Anything they do is wheeling and dealing,” said Bob Wallace, a former business associate of the Jaffes whose venture with them fell apart. “Anything they do is complicated.”
Doug Jaffe found success in the vending machine business and made a fortune selling “hush kits” that allowed older commercial jets to meet government noise restrictions. His worldwide client list included the government of Nicolae Ceausescu, communist dictator of Romania, and Samuel Doe , a notoriously repressive president of Liberia.
In 1989, numerous press accounts reported that a congressional ethics committee investigating House Speaker Jim Wright subpoenaed both Jaffes to testify about an East Texas oil exploration venture that, despite producing nothing, earned Wright about $150,000.
The Jaffes disputed allegations that they helped enrich Wright so that he would support a bid by one of their companies to win a $3 billion military aircraft contract.
The federal Office of Independent Counsel also investigated the Jaffes as part of a probe of former San Antonio Mayor Henry Cisneros, then the U.S. housing secretary, according to the counsel’s report. The Jaffes acknowledged they had made thousands of dollars in loans to Linda Medlar Jones, a former Cisneros girlfriend.
While best known for backing Democrats, the Jaffe family also has contributed to Republicans when the GOP was in power. After giving $25,000 to Perry’s Democratic rival in 1998, Doug Jaffe gave $5,000 to Perry’s campaign fund for governor in 2004, campaign records show.
Doug Jaffe said he appreciated Perry’s stewardship of the Texas economy. “I feel blessed that we’ve had him there,” he said recently.
Bexar County Judge Nelson Wolff, a longtime Democratic ally of the Jaffe family, chuckled when asked if he thought Doug Jaffe was a Perry supporter.
“Money,” he said, “generally follows the candidate they think is going to win.“
Good company Perry keeps. It should be noted that until 1989, Perry was a fellow democrat to Jaffe, Cisneros, and the whole crew.
Texas’ Pebble Beach
Horseshoe Bay was started in the 1970s by two cousins, Norman and Wayne Hurd. The former goat ranch 50 miles northwest of Austin has become a glitzy getaway complete with luxury homes, the largest private airport in the state, a yacht club and three championship golf courses.
Its list of celebrity residents has featured former astronaut Jim Lovell, oil well firefighter Red Adair and Dallas Cowboys legend Roger Staubach. It also boasts a cadre of retired chief executives of major corporations.
Doug Jaffe bought out the Hurds in 1996. He then proceeded to pour millions of dollars into expanding the resort, which some consider the Texas equivalent of California’s Pebble Beach. Horseshoe Bay is a popular place for second homes built by the wealthy of West Texas. One of those who chose to settle there permanently is Fraser, the state senator.
In 2000, Fraser decided to bring perhaps his closest friend into the exclusive group of Horseshoe Bay property owners – Rick Perry. Fraser and Perry had known each other since they met as teenagers at a Future Farmers of America convention.
Fraser once told a reporter of Perry: “Once he committed to you as his friend, he was your best friend. That’s been our relationship for 37 years.”
He ran for the Legislature in 1986 at Perry’s urging, Fraser said. After Fraser moved from the House to the Senate, colleagues surmised that his growing power stemmed from his close ties to Perry.
Now, Fraser said, they were making plans to live near each other in retirement.
Fraser, a wealthy investor, said he had been eyeing a 10-acre estate with panoramic views of Lake LBJ for development as a luxury subdivision.
For more than two decades, there was only one house on the property – an unorthodox mansion at the tip, owned by Norman Hurd.
Hurd installed sensors along the road leading to his house and an elaborate series of speakers in the woods so that visitors would hear rain forest sounds. Some of the inside walls of the house were lined with fake fur.
“It was a 1960s hippie pad,” said Clarence McDaniel, chief appraiser in Llano County. “There is no telling how many millions or billions of dollars of business went on in that house.”
By 2000, Hurd had sold his estate to Jaffe’s company, which divided the land into 11 waterfront lots. Fraser was one of the first buyers in the development dubbed “The Peninsula.”
Fraser said he had known Jaffe for years, and that the family supported him but did not donate to his campaign. “I consider them nice, good people, and because I’m the senator there, they are appreciative that I represent the area,” Fraser said.
In September 2000, the senator said, he offered Jaffe $700,000 for a lot adjacent to the former Hurd mansion. After Jaffe accepted, Fraser said he contacted him again a day or two later and offered $300,000 for a smaller lot with scant waterfront footage near the entrance to The Peninsula.
“It was the least distinctive of the lots on the property,” Fraser said.
He said he told Jaffe the second lot was for Perry. Jaffe denied that in a recent interview.
Fraser said he made the offers without an appraisal because he knew property values in Horseshoe Bay. “It was a willing buyer, willing seller,” Fraser said, and the offers were made at pre-development rates.
Fraser said he wrote one check for $1 million. He said he paid for Perry’s lot with the understanding that his friend would pay him back with interest.
The governor’s office provided The News with a real estate closing statement that showed Perry paid Fraser $310,762 for the Horseshoe Bay lot on Feb. 28, 2001. Perry used cash from the proceeds of his Austin home sale, said spokeswoman Allison Castle.
Donna Lollar Green, owner of Highland Lakes Appraisers in Marble Falls, Texas, concluded in a report done in July for The News that Perry paid well below market price. Using four comparable lot sales, she placed the actual value at $450,000 at the time of sale.
Both Fraser and Perry’s spokeswoman said an ethics lawyer was consulted at the time of sale, and the attorney deemed the transaction proper. Fraser said the governor selected the lawyer. Later, the governor’s office said Fraser spoke with the attorney.
Finally, Castle said that there may not have been an ethics attorney involved. “There was no requirement to talk to an ethics lawyer or to get an opinion,” she wrote in an e-mail.
So was there or was there not an ethics lawyer looking this deal over?
Perry also disputed the tax appraisal on his new purchase. There was all sorts of hanky-panky going on with that deal: [emphasis mine]
One of Perry’s first acts as a new property owner was to appeal his appraisal. The lot had been valued for tax purposes at $414,700.
Although the land is in Burnet County, the assessment was done by the neighboring Llano Central Appraisal District. The Peninsula was located within a municipal utility district for which the Llano CAD did appraisals.
McDaniel, the chief appraiser for Llano, said he calculated the appraisal by comparing the governor’s lot to some in another high-end development at Horseshoe Bay. He still has questions about the Fraser-Perry deal being an arm’s length transaction.
“Obviously, everybody would have concerns in regards to it coming from one political person to another political person that are of the same party affiliation,” McDaniel said. “It is a brand-new subdivision. Did the senator get a bargain on them when he bought into it? Maybe, because he bought two.”
McDaniel declined to elaborate, citing liability reasons.
Appraisal districts are required to value property at market rates, which the state tax code defines as the sales price if “both the seller and purchaser seek to maximize their gains and neither is in a position to take advantage of the exigencies of the other.”
Perry asked attorney Colleen McHugh to handle his tax appeal. A corporate labor lawyer from Corpus Christi, McHugh had just been appointed by Perry as chairman of the Texas Public Safety Commission.
She challenged Perry’s appraisal in a letter to the Burnet Central Appraisal District that listed the purchase price. Two weeks later, McHugh and Stan Hemphill, chief appraiser for the Burnet CAD, reached an agreement to lower the appraisal to $310,762. The appraisal district said it had no closing statement to confirm the price.
The appeal saved Perry about $14,000 over the six years that the appraisal district kept the value at purchase-price level.
Castle, the governor’s spokeswoman, said McHugh was not compensated for the appeal because Perry had paid her $2,850 for earlier work on the property purchase.
Craig McDonald, executive director of Texans for Public Justice, a liberal Austin watchdog group, said McHugh’s legal services had the appearance of a gift.
“It seems to be something that she did that certainly saved him a bundle of money. You would think most attorneys would bill their client for that,” McDonald said. “If she didn’t, he should have reported that as a gift.”
McHugh – a former State Bar of Texas president appointed by Perry in 2005 to the University of Texas System Board of Regents – said it would be improper for her to comment.
The Texas Observer first reported McHugh’s appraisal protest in May 2009.
Hemphill told The News he felt no undue pressure when dealing with the governor’s attorney. “I didn’t have any information that this was out of line,” he said.
But he took a harder line with an appeal by another Peninsula property owner.
Austin businessman Jess King bought a lot similar in size to Perry’s, but with more lakefront footage, about nine months after Perry’s purchase. Its taxable value tripled to $622,037 after the sale. King hired a property tax consultant who concluded the appraisal was inconsistent. Hemphill rejected the appeal, as did the county’s appraisal review board. King then filed a lawsuit, which took three years to resolve.
The value of King’s parcel was lowered to $550,000 – still more than double the appraisal in 2001, and far above Perry’s. The difference, Hemphill said, was that Perry provided a sales price.
King said he was unaware of the difference in values placed on his land and Perry’s until being told by The News. “It does seem a little out of whack,” he said.
While Hemphill said he considered sales prices to be definitive proof of value, his view was not shared by Dallas County’s chief appraiser. Ken Nolan said he would be guided more by sales of comparable properties, as McDaniel said he was.
So we have a high level Perry appointee “asking” a county appraiser to take a second look at the value of this property. Yeah, no pressure there whatsoever!
I’m not concerned with Colleen McHugh’s attorney fees [or lack there of] though there is most certainly a question of ethics in it all. No, it’s way more troubling that someone who has been appointed to not one, but two high profile positions by Governor Perry would be out there doing this at all.
McHough is a powerful person with a direct line to the Governor. The intimidation factor coupled with the “good old boy” way of doing business is off the charts here. The county appraiser pretty much rubber stamped Governor Perry’s request.
Unfortunately, as we see, a regular land owner in Burnet County can’t get the same service from the county appraiser. No, they to go to court, and still can’t get the same sort of low-ball appraisal Rick Perry did on his land. If that’s not the definition of corruption, I’m not sure what is.
Sadly, there is much more: [emphasis mine]
Listed for $1.2 million
By 2005, Perry had grown tired of the tax burden and maintenance cost of his Horseshoe Bay lot. He approached Ron Mitchell, the vice chairman of the resort, to help him unload the property.
Mitchell had been assigned by Jaffe to develop The Peninsula, and he became friends with Perry after the governor bought the lot. When Perry ran for a full term as governor in 2002, Mitchell made an in-kind contribution of $9,725 to help put on a fundraiser for him at Horseshoe Bay.
Steered by Mitchell, Perry signed an agreement with Horseshoe Bay Resort Realty listing his lot with a sales price of about $1.2 million, said Michael Gordon, director of real estate operations. The agreement included a standard provision that Perry would pay a commission if the property was sold, Gordon said.
Perry’s office did not respond to a request by The News for a copy of the listing agreement.
When the listing produced no takers, Perry pulled the property off the market after about four or five months, Gordon said. The property sat dormant for more than a year, he said.
Then along came Moffatt, a part-time Texas resident with a globe-trotting lifestyle and a colorful past.
In the 1990s, Moffatt owned Peak Aviation, a now-defunct company that the British government investigated in connection with arms shipments to Africa for use in the Rwandan genocide. The tribal conflict may have claimed about 800,000 lives.
Moffatt said in an interview that he met twice with British customs investigators but was never charged with a crime. He said the arms shipments that his company made to Africa were legitimate government-to-government deliveries.
He also acknowledged that Doug Jaffe is a friend and business associate. “I do an airplane business with him, and I have known him for almost 30 years now,” Moffatt said.
State incorporation records show Moffatt was listed as a partner with Jaffe in the Horseshoe Bay Resort Air and Business Park. He also bought three Horseshoe Bay condominium units, another parcel on The Peninsula where he built and sold a house, and eight vacant lots in the resort.
Moffatt was known to Jaffe employees at Horseshoe Bay as the boss’s partner.
Changes and conflicts
Retellings of how Moffatt came to purchase Perry’s property in Horseshoe Bay involved changing and sometimes conflicting accounts.
Gordon, the resort’s real estate director, said that Moffatt approached him and that an executive in his office who knew the governor made contact, after which a deal was struck. He would not identify the executive and called his own involvement minimal.
“As a favor, I wrote the contract for him [Moffatt], handed it to him, he took it to the title company and then off they went,” Gordon said.
Castle said the sales price was negotiated by the title company, whose owner also worked as an attorney for the Jaffe family.
Mitchell, the resort vice chairman, said he called Perry on Moffatt’s behalf about buying the lot. “I either provided the contact information for the governor to Alan or of Alan to the governor’s office,” Mitchell said. “I got them connected.”
In a subsequent interview, Mitchell described a more active role. He said he conveyed Perry’s proposed price of $1.2 million to Moffatt and relayed Moffatt’s counteroffer of $1.15 million to Perry, who accepted.
Moffatt purchased the land in the name of Wallace Holdings LLC, which identifies him as its sole manager. He and Perry never met, the governor’s staff said.
When Perry sold it, the land was appraised for tax purposes at $600,000.
Appraiser Green concluded in her report to The News that Perry’s lot was worth $800,000 when sold. Her findings were based on recorded sales of five other properties in Horseshoe Bay in the year before Perry’s sale.
Her appraisal also took into account that Perry’s lot had only 35 feet of lake footage, by far the smallest of any lot on The Peninsula.
By buying below market value, and selling above, according to Green’s appraisals, Perry was able to add $489,238 to his profit.
Doug Jaffe, who said he discussed a possible purchase with Moffatt, said his friend had landed a bargain. “I think the governor sold too cheap,” he said.
Moffatt financed the purchase with a loan from The Bank of Texas in San Antonio.
An appraisal done for the bank in March 2007 said the land was worth $100,000 more than the $1.15 million that Moffatt paid.
The News hired a Dallas firm to review Green’s work and that of Robert J. Thompson of San Antonio, who did the appraisal for The Bank of Texas.
Thompson based his appraisal on two property sales near Perry’s lot whose values were not reported to the Multiple Listing Service, and a third parcel that was listed but had not been sold.
The report to The News by Stephen Crosson, chairman of Crosson Dannis Inc., faulted Thompson’s work. “The value expressed in that thing is just essentially unsupported,” Crosson said of the bank’s appraisal.
He added in a written report: “In my judgment, the Report does not comply with the Uniform Standards of Professional Appraisal Practice.”
Thompson said Saturday he could not discuss his work for privacy reasons.
Crosson questioned whether Green’s market value was too high because she had not properly adjusted some data. In response to Crosson’s report, Green lowered her appraisal by $50,000 to reflect a market value for Perry’s property of $800,000 at the time of its sale. After Green’s changes, Crosson said her appraisal for The News met professional standards.
Texas law generally prohibits elected state officials from accepting gifts, which are described as anything of monetary value. Exceptions include gifts under $250 or gifts from family members or close friends.
The Sunlight Foundation’s Miller, a 30-year veteran of studying the influence of money in national politics, contended the variances from market values amounted to gifts that Perry should have disclosed on his personal financial reports.
“It sounds to me like something they should have avoided, should not have done and depending on the state law, should have been reported,” she said.
Perry did not pay a real estate commission on his sale to Moffatt. Mitchell said the waiver of the fee was a favor to Moffatt. The fee, typically 6 percent of the sales price, could have amounted to as much as $69,000.
Real estate commissions usually are paid from the seller’s proceeds; buyers are normally not charged.
“Alan may have done something that made him [Jaffe] a lot more money than that in the aviation business,” Mitchell said.
Asked if the company would have charged a commission if the sale involved anyone else, Mitchell laughed and said, “We’re here to make money.“
Castle, Perry’s spokeswoman, said there was no need for the governor to declare the waived commission as a gift.
“Commission for what? There was no Realtor,” Castle said. When asked about Mitchell’s involvement, Castle replied: “He’s not a Realtor. He’s a developer.”
Miller of the Sunlight Foundation ridiculed the notion that Mitchell had not performed a service.
“He finds a ready buyer at twice the price of what the governor paid for it [the lot] and doesn’t charge any kind of fees?” she said. “It’s ridiculous. It doesn’t have to be a real estate commission, but there has to be a fee for arranging that.“
‘I was sick‘
It is not clear if Jaffe benefited from the sale of Perry’s property. He maintained that Perry had been good for Horseshoe Bay and he did not want him to leave. “I was sick that he sold the lot,” he said.
Perry’s aides denied that he did any favors for the Jaffe interests. They also denied that Mitchell’s appointment to the Texas State University System Board of Regents in 2009 had any relation to the help he gave Perry on the land sale.
They also insisted that Perry did not know, as The News found, that Jaffe was an investor in a struggling San Antonio aircraft business that the governor approved to receive $2.5 million from the Texas Enterprise Fund.
The company, Sino Swearingen Aircraft Corp., claimed the grant would help create 850 new jobs in Texas. Perry announced the grant in 2006, about a year before the sale of his property in Horseshoe Bay.
Jaffe said he played no role in seeking the funding.
Sino Swearingen announced layoffs soon after the grant announcement. It later rescinded its request for the grant, and no money was paid.
Moffatt’s purchase of Perry’s land has yet to show a profit. He has had the lot on the market for most of the last three years and recently dropped his asking price to $1.65 million.
Perry spokeswoman Castle she didn’t understand why anyone would question the ways in which the governor bought and sold the land. Perry has reported on his federal tax returns that his profit on the sale was $823,000, the largest he has disclosed from a real estate transaction during his term as governor.
“He purchased it,” Castle said. “It was a fair price. He was later interested in selling it. He had an interested buyer. He sold it. … It was pretty straightforward.“
Let see, we have yet another person involved in this incredibly profitable real estate deal who was appointed to a high level position by Governor Perry. But Perry’s people say there was nothing wrong with how this deal was done!
The News has much more including a complete timeline of how all of this went down. Read it here.
This is an incredible story of corruption, favors, and highly unethical behavior. Deals like this is how Rick Perry has become wealthy, while spending his entire adult life drawing a government paycheck.
This is crony capitalism.
These are the kind of deals normal, honest real estate investors can not make. Nor can a private citizen who just wants to buy a piece of paradise.
Perry, using his position as Lt Governor was able to buy the land dirt cheap.
For those that don’t understand Texas’ political structure, the Lt Governor is, in many ways, more powerful than the Governor.
.Then as Governor, Perry, who has the ability to appoint people to high office, and dole out millions of dollars from his Enterprise slush fund, used his position to make one hell of a profit.
Is this the sort of man we want in the White House?
Barack Obama is where he is because of cronyism. He’s used taxpayer money to reward special interest supporters like the unions, and corporations like General Electric. Rick Perry has done the same thing in Texas, just on a smaller scale.
Elect Rick Perry and the only thing that will be different from the Obama regime is the names of the cronies who will get rich on the backs of the American taxpayer. Other than that, it will be business as usual.
The United States will not survive one more corrupt politician in the White House.