Beautiful stuff. The tobacco industry doesn’t even pay economists to shill for them like this anymore. This guy is just in it for the love of the gamehttps://twitter.com/MaMoMVPY/status/1316835722712821771 …
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The whole point of the master settlement was that it offset increased state Medicaid costs from smoking. The lawsuits they settled were Medicaid lawsuits brought by state attorneys general But many states securitized the payments because they wanted the cash right away
The securitization created an incentive for the states to have higher cigarette sales, because more cigs = higher settlement payments per the settlement terms. If the settlement payments exceeded the bond payments the states could profit from the securitization
