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May 04, 2009

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Jerry in Detroit

Government is pretty bad at whatever it does? My favorite bad example is the infamous brothel, the Mustang Ranch. Back in the early 90s, the feds seized the operation for unpaid taxes. In an effort to recover additional money, the feds elected to continue the operation and lost money. Eventually, the operation was closed, the "employees" laid off and the assets sold at a loss.

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