Stop Predatory Gambling

Casino capitalism only benefits the casino operators

by spgadmin

The crisis on Wall Street- AIG, Lehman Brothers, Bernie Madoff and so on – are all part of what’s been called “casino capitalism” – using predatory practices and financial gimmicks to promote an illusion of free money, all at the expense of unsuspecting Americans.

Predatory gambling is casino capitalism in its crudest form. Mohegan Sun at Pocono Downs (PA) CEO Robert Soper testified before a PA Legislative Committee that his blackjack dealers in Connecticut, not including tips which come out of the customer’s pocket, are paid somewhere between “$6 and $7 an hour” and, if table games are approved in Pennsylvania, his dealers would probably be paid even “lower.”

Predatory gambling is another kind of Bernie Madoff-something for nothing scheme that will not rescue our economy. We’re going to have to get out of this economic crisis the old-fashioned way–by digging inside ourselves and getting back to basics: improving U.S. productivity, saving more, reducing our debt, strengthening our families, studying harder and inventing more products and services to export.

The days of phony prosperity are over.