PRUDENT FINANCIAL MANAGEMENT? Lottery money moved out of Treasuries:

Apparently Gov. Dave Paterson isn’t the only blind one running things up in Albany. According to Bloomberg, the New York Lottery is proposing to move its $1.3 billion prize fund into investments such as stocks, corporate bonds, real estate and hedge funds and out of the safety of U.S. Treasuries.

Wait, it gets even better. “New York would be the first state lottery among the 20 largest to shift to pension fund-style investments.” You know, because that’s working out oh so well as underfunded and overgenerous pensions across the country teeter on the brink.

Really, I don’t see where these guys get off criticizing businesses for their management . . . .