You Can Put This Bond in Your Pipe and Smoke It

The prospect of legalizing marijuana in California through Prop. #19 is getting the state's politicians pretty excited. Just think of all the revenue they'll get from taxing it. Apparently bond investors are looking forward to these taxes too. According to Amy Resnick of Bond Buyer, they're eager to buy up bonds backed by new marijuana taxes. Here's her tweet, via Business Insider:

Cal. Public Finance Conf. attendees say if Prop.#19 passes, the market will accept bonds backed by marijuana taxes.

Read the full story at Business Insider.