This from the New York Times (registration required). Read what this law professor has to say about the issue. I like this statement:
"Yet more evidence that a hedge fund is no match for a politician when it comes to short-term thinking."
Just a few years ago, most states gave away their 25 year $300 billion or so Tobacco Resolution money in return for immediate up front payments from the money markets. Now it seems they just might give up their lotteries to boot. Wow!
Posted by The Mighty Wizard at January 24, 2007 05:51 PM