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Forfeiting Federalism: The Faustian Pact With Big Tobacco, Ryan Dreveskracht
Forfeiting Federalism: The Faustian Pact With Big Tobacco, Ryan Dreveskracht
Ryan Dreveskracht
This article discusses the effects of the largest legal settlement in United States history: the so-called Master Settlement Agreement, or “MSA.” Part I discusses the settlement generally, and its intended effect on the U.S. tobacco market. Parts II through IV discuss the unintended consequences of the settlement. Specifically, Part II considers how states got into their current disarray, and how a perceived state windfall of billions of dollars ended up putting states on what by all accounts now appears to be very real risk of insolvency. Part III examines how the major tobacco companies are using the states’ dire financial …