[calcowgirl]

A year ago, Arnold told us the Lottery could be sold for $15 - $20 billion dollars.
With the struggling economy and budget deficit, he’s now willing to give it to his buddies on-the-cheap for $5 billion.

How about we just fire the whole lot of incompetents running the thing and turn it into a revenue generating machine?

[calcowgirl]

Linking to the 2007 McClintock article (when the proposal to sell the lottery for $15 billion was tossed around):

Tom McClintock: Selling off lottery would be bad deal

And an interesting tidbit from the SacBee, also from 2007 (link dead, but from this post):

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.”