Not the Onion, just the Baton Rouge (Louisiana) Advocate:
A contract signed by the Jindal administration offers a sizeable bonus to a financial firm if the privatization of a state employee health plan occurs. Morgan Keegan & Company Inc., based in Memphis, Tenn., could make up to $900,000 if a private company successfully bids for the state Office of Group Benefits’ book of business....
The contract with Morgan Keegan calls for the firm to help the state “make informed decisions as to the future direction” of the Office of Group Benefits. Morgan Keegan will be paid $150,000 to determine the office’s financial value. An ultimate privatization would net the firm an additional $350,000 to $750,000 for helping with the bidding process and contract negotiation.
State Commissioner of Administration Paul Rainwater, who is one of the governor’s top advisers, said Morgan Keegan will provide unbiased advice, despite standing to profit more from privatization than from the status quo. “Morgan Keegan understands very well they work for us, and their job is to do an analysis that gives us the information we need to make a decision,” he said.
No information was available as to whether Rainwater was able to keep a straight face while saying this or whether he broke out in a fit of laughter.
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