Markets in everything, deficit spending edition

The Illinois lottery may be up for sale.  The current status is discussed in yesterday’s NYT.  The state hopes to get $10 billion.  The lottery had $630 million in profits last year on sales of $2 billion.  The buyer would get all profit for 75 years.

Here is the source.  Larry Ribstein remarks: "Yet more evidence that a hedge fund is no match for a politician when it comes to short-term thinking."


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