Texas Gov. Rick Perry’s oversight of a publicly-funded loan program is coming under scrutiny for high default rates — providing new fodder for his Republican opponents.The Austin American-Statesman reports that while Agriculture Commissioner, Perry and other board members of the Texas Agricultural Finance Authority ignored their own lending guidelines, and as a result nearly 30 per cent of the agency’s loans went bad.
“Even as the first alarms were sounded, Perry defended the program, saying no taxpayer money was at risk, blaming others and claiming he had fixed it.
It only got worse.”
Perry bailed-out the program in 2009, when he signed a budget including $14.7 million to pay off the bad loan guarantees.
Previously, Perry has come under fire for his state’s Emerging Technology Fund, which has had questionable job-creation statistics, amid reports that over $16 million of the fund was disbursed to companies with close ties to campaign contributors.
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