10 Things You Didn’t Know About Gov. Rick Perry

By July 29, 2015Bitcoin Business
Click here to view original web page at www.forbes.com

Guess who had lunch at the Yale Club Wednesday? Texas Governor Rick Perry. Here’s what you need to know.

NEW YORK, NY – JULY 29: Former Texas Governor and Republican presidential candidate Rick Perry speaks at the Yale Club on July 29, 2015 in New York City. The GOP presidential candidate gave a talk to a lunch crowd on what his economic policies are and his vision for Wall Street reform. Perry’s economic proposals are to the left of many of the other GOP presidential candidates. (Photo by Spencer Platt/Getty Images)

1. Texas Governor Rick Perry was at the Yale Club in New York City Wednesday speaking at a launch meeting of the Committee to Unleash Prosperity. Also at the meeting were CNBC’s Larry Kudlow, former presidential candidate Steve Forbes, The Heritage Foundation’s Steve Moore, and former NYC mayoral candidate John Catsimatidis.

Kudlow and Moore, along with economist Art Laffer, are founding members of the Cmte. which is meant to “end America’s growth slump and restore faith in the American Dream,” according to a written statement about the group.

2.He’s clearly a fan of what Kudlow, Moore and Laffer are doing. “This concept of having a conversation about our economic future is an incredible idea,” says Perry.

3. “If I am elected President of the U.S. I will not bailout a single Wall Street bank,” said Perry at the meeting. He says he wants to end the concept of Too Big to Fail, which ultimately led to the massive bailouts of the huge banks in the wake of the financial crisis of 2008-2009. Those recipients of bailout cash, like Goldman Sachs, JPMorganChase and Bank of America, were deemed too important to the health of the economy to let fail.

4. Perry wants to reform the Consumer Finance Protection Bureau partly by making it more accountable to Congress. He thinks the CFPB has made things more difficult for consumers not less.

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5. Perry wants to wind down the government sponsored enterprises Fannie Mae and Freddie Mac. The two were both instrumental in efforts to loosen lending standards and so open home ownership to lower and moderate income borrowers.

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6. Perry doesn’t like the Dodd Frank legislation that was brought in after the financial crisis. He wants to replace it with new rules, ones that mean “that banks of any size can fail.”

7. Americans “have every right to be angry” because they got screwed by the misdeeds of Wall Street, says Perry.

8.He says Wall Street’s reputation has been sullied overtime, but in truth it has long been the the “financial engine for the world.”

9. Perry is a fan of digital currencies like Bitcoin. In his speech he suggested such technology could free up credit for small businesses.

10. Like all attendees, Perry would have been given a napkin with Art Laffer’s famous Laffer Curve printed on it — see the image of mine below. I can’t be sure, but Perry may have the napkin in his pocket now.

Napkin given to all attendees at Wednesday's meeting of the Cmte. to Unleash Prosperity
Napkin given to all attendees at Wednesday’s meeting of the Cmte. to Unleash Prosperity

Simon Constable is a New York-based writer.

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