Securitizing tobacco settlements: the basics, the benefits, the risks

Abstract

In this time of fiscal hardship for American states, governors and legislators across the country are searching for ways to make up for revenue shortfalls. Partly because of the severity of the revenue crisis, innovative and unconventional means of raising cash have begun to surface. One of these approaches, the topic of this article, is the securitization of tobacco settlement revenues.Tobacco industry ; Fiscal policy - New England ; Deficit financing - New England ; Bonds - New England