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Health Aff (Millwood). 2004 Sep-Oct;23(5):188-93.

Securitization of tobacco settlement payments to reduce states' conflict of interest.

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  • 1Yale Schools of Public Health and Medicine, USA.


Securitization of the Master Settlement Agreement (MSA) payments from tobacco companies is hotly debated in states and policy circles. Securitization is issuing a bond backed by future payments in return for up-front money. Many public health advocates are strongly against securitization. However, securitization itself does not rob states of tobacco control. Rather, the issue is lack of commitment to tobacco control by states. Further, securitization can mitigate states' conflict of interest between keeping tobacco companies fiscally healthy to ensure their MSA payments and reducing tobacco sales for health reasons. States should not align with tobacco companies with the common interest of keeping tobacco companies fiscally healthy.

[PubMed - indexed for MEDLINE]
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