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« I'm OK With the Black SUV's | Main | Rap Battles » March 04, 2006Dead to MeFormer Rep. Duke Cunningham was sentenced to 8 years and 4 months in the slammer yesterday, which I don't think is long enough. When the story first broke, I wasn't that surprised by the corruption. No, what struck me was how cheaply he was bought. I thought $2.4 million sounded awfully low for a U.S. Representative, especially one who handles defense funding. Prof. Tabarrok also noted this and comes to a disturbing conclusion: What's most disturbing about this is how low the prices were, $50,000 for $1 million in contract value. Now let's remember Econ 101, what makes prices low? That's right, competition. So who was Cunningham competing with? Posted by Zach Wendling at March 4, 2006 04:35 PM CommentsHe faced a possible 20 years, but as part of his plea bargain, in exchange for some cooperation the prosecutors agreed not to ask for more than 10 years. If it gets other people indicted, like the guys who paid him or other corrupt politicians, then that's a good trade. They knocked the other 1.6 years off in recognition of his vietnam service. Posted by: Balta at March 6, 2006 11:32 AM | permalink Posted by: Balta at March 6, 2006 12:54 PM | permalink Posted by: Mike Sylvester at March 8, 2006 11:49 PM | permalink Post a comment |
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