Sunday, April 13, 2003

Tobacco money as "the wages of sin"

This article from Utah describes how tobacco money is addictive to state governments, while here the New York Post asks "Are cash-strapped states addicted to tobacco?" New York City stands to lose $100 million if Philip Morris stops making expected payments, as reported here. Meanwhile, the NYT reports here that tobacco bonds are becoming so heavily discounted they might be worth the risk (if Philip Morris can pay).

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