The tobacco pay off +10 years

[Old Codger]

This is what it came down to

Posted: Friday, November 21 at 05:00 am CT by Bob Sullivan

Consider this the next time you see a teenager take a drag on a cigarette: Your state government likely has a financial stake in that kid continuing to smoke. And quite possibly, so does your retirement portfolio.

That was hardly the intention 10 years ago, when a collection of state attorneys general delivered a crushing blow to Big Tobacco. On Nov. 23, 1998, the nation's four largest cigarette sellers agreed to pay $200 billion over 30 years in what seemed like a victory for David over Goliath. The money was supposed to help the states pay for health care and anti-smoking campaigns. Instead, much of it -- even payments that aren't due for 20 years -- has already been spent on politically popular tax breaks through complicated borrowing schemes initiated by Wall Street investment banks.

MORE here

http://redtape.msnbc.com/2008/11/ten-years-later.html

[defendandprotect]

1. That's why the Bush 2000 STEAL was of such urgency --

accountability is dangerous for the crooks in charge of government --