BUSINESS

US Gambling Already Legalized And Unregulated On Wall Street

TAGs: Goldman and Sachs, Wall Street Gambling

forfeited moneyAllegations of fraud with Goldman and Sachs made huge news in US recently. From all accounts it would appear that gambling is already legalized and extremely unregulated in the United States, that is, at least on Wall Street. Read more.

Opponents of gambling are so quick to point the finger to the evils of gambling while ignoring the gambling that is going on with US economy that has gone on completely unregulated to the detriment of the country. At least legalized online gambling would bring money back into the country as opposed to bankrupting it. I actually don’t get what all of the opposition is about. If it’s all about money then regulating online gambling would bring that in. But looking at the bigger picture, clearly, gambling is the American way, an activity that has been driving the American economy on Wall Street forever.

While most Americans believed that investors were doing what their name suggests, that is investing, the ugly truth is that they were the biggest gamblers. They were the ones gambling on the success or failure of bonds. It was a high stakes game and only the biggest high rollers were invited. If that doesn’t sound bad enough, it also may be the case that the whole game was fixed, that is there were those who knew and made sure certain bonds would fail to win their “bets”. It’s one thing to gamble, but nobody likes cheaters. Shit, even Tiger Woods found that out.

The corruption on Wall Street should be the main focus for many Americans looking for something to lobby against. Look at it this way, the legalization of online gambling may cost a few people who can’t control themselves their houses, but it certainly wouldn’t cost as many houses to Americans as when the housing bubble burst due to Wall Street’s problem gambling. Just a thought, are investors now considered problem gamblers? Do they need therapy for their billion dollar gambling habit? Fucks with the mind don’t it? Just trip out on that thought for a moment in the spirit of 4:20.

Imagine a world where you can gamble away billions of dollars and when you’re just about to hit bust, the Federal government issues you a massive bail out. Shit, if that’s the way things worked, forget this writing shit, I’m going to the bank to get me a fat loan, and I’m heading to a place that starts with Las and ends in Vegas. Might even buy a house there, there’s a number of them up for sale these days.

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