Commentary: Save California's Redwoods But Not This Way

Consider it the Charles E. Hurwitz Relief Fund. After bailing out the Texas dealmaker's failed savings and loan association to the tune of $1.6 billion, the U.S. government is now on the verge of doling out thousands of acres and hundreds of millions of dollars' worth of federal lands to him. The package of properties would include valuable timberlands and may contain such gems as the aptly named Treasure Island, a rare parcel of undeveloped San Francisco Bay real estate recently vacated by the Navy.

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