Las Vegas to Get Bailout?

December 9, 2008

Nothing says irony like bailing out the gambling industry:

Is a bailout for Vegas casinos next?»

Congress and the White House say they are moving closer towards an agreement on a $15 billion rescue plan for the auto industry. On CNBC this morning, Sen. John Ensign (R-NV) said he would be inclined to filibuster the auto rescue deal. “I think that not only myself but several of us will be looking at possibly blocking this package,” he said. But when the host asked Ensign whether the government should also rescue Ensign’s home state’s gaming industry, the Nevada senator left the door open:

Q: Las Vegas is quiet. If the gaming industry ever came to you and said we need some sort of assistance…where do we stop in all this?

ENSIGN: That’s exactly right. The gaming industry and the hotel industry are hurting and hurting very very bad. And by the way, the hotel industry across the United States, not just in Las Vegas, employs a lot more people than the auto industry does. … And we don’t hear people saying let’s bail out the tourism industry, and it’s hurting.

Link (Think Progress)

Somebody needs to stop this insanity.


One comment

  1. They have already sunk trillions (yes, with a “t”, about eight at this point) into bailing out the gambling industry. What else can you call people who invent 60-odd trillion dollars of “value” in derivative credit swaps and then get terribly upset when it turns out they’re worth very much less than claimed?

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