Posted on 05/24/2007 10:43:17 AM PDT by NormsRevenge
The old admonition, "When something seems too good to be true, it probably is," virtually screams from accounts of Gov. Arnold Schwarzenegger's proposal to "privatize" the California Lottery.
Actually, to give credit where it's due, it's a Goldman Sachs/Lehman Brothers proposal; the governor is the pitch-man.
The details are subject to negotiation, but the deal works something like this: The state turns over the California Lottery and monopoly control over lottery gambling in California to a private consortium (led by Goldman Sachs and Lehman Brothers, could it be?) for the next 40 years. In exchange, the consortium pays the state a lump sum of about $37 billion. With that money, the government sets up a $22 billion endowment fund that will guarantee the schools what they're getting from the lottery now -- about $1.1 billion a year. That leaves an extra $15 billion to paper over the governor's deficit-spending and borrowing spree ...
The governor's spokesman calls it "a win-win for California on every front." California lottery sales are well below per capita sales in other states, and our lottery revenues are declining. By handing the operation over to a creative, innovative and dynamic corporation, the schools will be guaranteed a stable annual payment, the state gets an extra $15 billion, and the investors pocket the rest. What's not to like?
But wait a second. This is not privatization. Privatizing the lottery means contracting out services to competing firms that offer the state the best value at the lowest price. ...
--snip--
If there is so much additional money to squeeze out of the lottery -- and obviously there is or the Goldman Sachs crowd wouldn't be circling the Capitol -- shouldn't that extra money be going to the schools and not to a consortium of investment bankers?
(Excerpt) Read more at sacbee.com ...
You've got the right idea. Work the system. Let the parents of the lazy pay.
California's masses paid for my children's post secondary education and both are now productive members of our society.
The formula is simply. If you learn they will pay.
I'm hoping we don't have to go that route, with private scholarships being the source. If you learn they will pay.
Learners produce wealth, for both those who employ them and those who tax them. These kids aren't fooling around with fluff subjects either. It's calculus, history, biology, and music, ALL at the college level, with physics, language, and chemistry to follow. There's also an hour of daily PE with emphasis on weight training, dance, and aerobics. I want them at least half-way through a double major by the time they're eighteen.
There's a second reason for the accelerated program: they're girls. I want them to be done with school and well established at an age at which there is still time to have a family. Too many professional women get there in their mid thirties, and end up visiting my wife at the infertility clinic.
I still stand by my sentiment that people who play the lottery thinking that they might win are are not too bright or are bright but never took the time to understand statistics.
I have seen it in several states where they advertise things like “you have to play to win” and “somebody has to win”. All of these are valid statements, but I also know that I truly have at least 3x more probability of getting struck by lightning then winning the lottery!
Next, Marc Rich will be advising on deficit reduction options—if he hasn’t already.
http://www.sacbee.com/770/story/192627.html
The state Assembly will hire the non-profit run by former junk bond king Michael Milken to review Gov. Arnold Schwarzenegger’s proposal to sell or lease the California Lottery, Speaker Fabian Núñez said Thursday.
“It’s critical to get an independent assessment of any possible sale or lease of the lottery,” Núñez said in a statement. “Michael Milken and the Milken Institute have a sterling international reputation for their work, and the people of California will benefit greatly from their review of this project.”
Ah, yes.... planning the carbon trading scam foisted on us by dear Ahnold.
Just wait ‘til Tony Blair takes over at the World Bank. 8-o
Also heard about a disturbing jury decision in England regarding terrorism that I can't remember the particulars on but it was just horribly anti American!!!
So at least some of the Brits are just throwing history over the side and spitting on their most powerful friend on Earth! But... SayLaVee... Phhhhhhhhhhhhhht!!!
Mexico’s Schools Win Too!
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