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MIT Students gamed the Mass State Lottery. http://www.nydailynews |
| 08-03-2012, 07:01 PM | |
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It's unclear where anybody ever got the idea that a free market results in low prices when the entire point of capitalism is to maximize profit and low prices are less profitable. Therefore the natural proclivity should be to collude and fix prices at the highest sustainable point.
Oh, it's illegal to collude and fix prices and whatnot as deemed by the gubmint? Who are they to say how a free market should work when it's a matter of divinity per Adam Smith whose book nobody bothered to read? |
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Grossman added ""Revenues were tremendous and the lottery benefited, but there were practices that were not appropriate and things done that were not right."
Gee... ya think? ; ) Notably absent in that story is any mention of resignations or disciplinary actions. |
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Personally I'm more surprised that some members here are apparently finding out for the first time that greedy people do exist, and that government employees are in fact people.
As for disciplinary actions, they're obviously already over the statute of monetary limitations of prosecuted crimes. Eg. wall st. |
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They're not over getting fired for running what amounted to a rigged game. I don't blame the players for working the odds that existed in their favor, but the folks who knowingly let them get away with it, even facilitating it, and then hid the fact for 10 years should be canned at minimum. Can't have the state effectively colluding with some players and running their lottery as a con game. lol |
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The government is always better at spending other peoples money. Nancy Pelosi, George W. Bush, Harry Reid, Barack Obama, etc... all multi-millionaires many times over, all regularly voted for and approved deficit spending not by a little bit, but by a lot. But, it doesn't matter, the public debt is not their money, it's someone elses money. Last edited by Hawk2007; 08-03-2012 at 09:36 PM.. The IRS was asked to provide itemized receipts detailing how the government was billed $50 million USD for their conferences and conventions. They were unable to find some of those receipts. Link [washingtonexaminer.com]
Funny how if you, or I, or SD.net gets audited by the IRS, we're going to be expected to find receipts for everything. |
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Those running the game were aware of the flaw in design which created an inherent unfairness in the game. They didn't fix it. They didn't provide fair notice to other players. They facilitated the advantage of certain players. And they benefited by deceiving other unknowing players who served as the 'chumps' funding the winnings of the players and the net proceeds to the state. Likely could go after the players too on the basis of collusion or conspiracy to defraud or bribery or something along those lines if there was some pay-off or other benefit provided to government officials but lacking that doesn't appear that what they did was illegal per se. |
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Take two of these and calls us in the morning: http://www.ncbi.nlm.ni
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