enthalpy

enthalpy

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The truth shall set you free, but first it's going to piss you off

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Thursday, November 16, 2006

Posted 11/16/2006 05:17:00 PM by Douglas

Sometimes the headlines just write themselves:

Perry wants teacher pension fund to invest in startups

Gov. Rick Perry is asking the Teacher Retirement System, Texas' largest pension fund, to consider investing up to $600 million in young companies that receive money from Perry's emerging technology fund.

Last year, Perry persuaded lawmakers to put $200 million into a new Texas Emerging Technology Fund that invests in startup companies and public research projects. Perry wants the state to up its bet and is asking for the Teacher Retirement System investment.

Many of the startup companies have little or no revenue and uncertain prospects, but Perry and other backers of the tech fund say the state money is needed to boost Texas companies in industries of the future, such as medical devices and nanotechnology.

State officials "encouraging" where private money is invested? I smell trouble.

I wonder if the "underpaid" teachers of Texas had a say in the $130 Million loss TRS suffered from poor investments in WorldCom and Enron? Did the Governor encourage those, too? What the hell does he care, it's not his money.

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