Tobacco loot securitization fiasco

Inevitably, Felix Salmon draws different policy conclusions than would I from the story, but this essay explains at length how state governments’ wish to enjoy the extorted legal proceeds of the tobacco settlement up front, rather than stretched out over time as was the original idea, did not work out quite as planned. [Medium]

One Comment

  • But without children, what excuse would the blue noses use to forbid us those pleasures which hurt no body but offend those same blue noses because… well, because the blue noses don’t want to do them, so no one should.