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When corporate welfare is illegal — the ‘Gift Clause’

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I constantly write about the immorality, economic stupidity, and moral hazard of government handouts to private entities — like Virginia Gov. Bob McDonnell’s $4 million grant to the Washington Redskins — But what about the illegality. When the Rhode Island government gave a $75 million loan guarantee to Curt Schilling’s software company, bureaucrats might have been guilty not only...

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