The Illinois lottery may be up for sale. ...Clever idea. Governor Rod Blagojevich gets the cash now and the political credit for spending it on schools, while his successors contend with the consequences. Yet more evidence that even a hedge fund is no match for a politician when it comes to short-term thinking. (I'm not even thinking about the problems of handing 10 billion to an Illinois politician. But then that's really too much to stuff in shoeboxes.)
Saturday, January 27
Clever idea
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