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Non-Tech : Philip Morris - A Stock For Wealth Or Poverty (MO) -- Ignore unavailable to you. Want to Upgrade?

To: Theo Karantsalis who wrote (4100)	7/5/1999 7:16:00 PM
From: md1derful	Respond to of 6439

Theo: And therein lies the hypocrasy that is tobacco litigation..brought to its highest degree when, of all states, N.Carolina, whose greatest colleges and universities were built with tobacco money, has the nerve to join in the big lawsuit last year..claiming "damages"???? from the evils of tobacco. If there is justice here, would someone please enlighten me....

To: Theo Karantsalis who wrote (4100)	7/5/1999 8:14:00 PM
From: Ian@SI	Read Replies (2) \| Respond to of 6439

Theo, 2 points. Obviously, with his name, "Cough" man is an expert commentator on Tobacco. Coffman said it is a conflict of interest for states to devise programs dependent upon tobacco-settlement money and, at the same time, regulate the tobacco industry. "The government now has a vested interest in keeping tobacco companies afloat," he said. 2. The lawyers and some of the states are securitising the payment stream from Tobacco. It gives them the money now; and it protects them in case they have second thoughts about letting tobacco survive long enough to make the payments. Anybody buying these bonds is, IMO, taking a huge risk. And if the states securitise their entire payment stream, my MO is history. Ian.