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Is it possible to spend too much money in politics and have it backfire? Sheldon Adelson is about to find out.
Slate asks the Million Dollar Question (or should we say BILLION DOLLAR QUESTION?).
Adelson, in case you didn’t know, is among the biggest GOP donors. He’s also one of the richest men in the world and doesn’t believe online gambling can coincide with his brick and mortar casinos.
From Slate.com:
Earlier this year, the odds on Adelson’s online gambling ban looked good. In March, Sen. Lindsey Graham and Rep. Jason Chaffetz introduced the Restoration of America’s Wire Act, a bill to make online gambling illegal, and did so with solid bipartisan support, including Democrats Sen. Dianne Feinstein of California and Rep. Tulsi Gabbard of Hawaii as co-sponsors. House Speaker John Boehner appears to have been on board, Senate Majority Leader Harry Reid was on board, too. (Reid always had a detente with Adelson, given their mutual interest in the Nevada travel and tourism business.) But the bill lingered. Then, a House hearing was scheduled for December. The idea, it seems, was to get it passed quietly.
Texas Republican Representative and two time US Presidential candidate Ron Paul caught onto Adelson’s plans and immediately called him out. Paul, who has been interviewed by Gambling911.com on more than one occasion, has co-authored legislation in the past to permit Internet gambling in the US. He’s even joined forces with the likes of former Democrat Congressman Barney Frank.
Paul calls Adelson’s efforts “cronyism”.
Most Americans, regardless of ideology, oppose “crony capitalism” or “cronyism.” Cronyism is where politicians write laws aimed at helping their favored business beneficiaries. Despite public opposition to cronyism, politicians still seek to use the legislative process to help special interests.
For example, Congress may soon vote on legislation outlawing Internet gambling. It is an open secret, at least inside the Beltway, that this legislation is being considered as a favor to billionaire casino owner, Sheldon Adelson. Mr. Adelson, who is perhaps best known for using his enormous wealth to advance a pro-war foreign policy, is now using his political influence to turn his online competitors into criminals.
Slate’s Lee Drutman notes the potential fallout and why Adelson’s online gambling prohibition may be a done deal (as in done and gone):
Adelson’s biggest mistake is that he spent too much money. Spending $100 million in such public fashion is a great idea if you want to obtain a certain type of celebrity. It also works well if you want presidential aspirants begging for your largesse. But it’s actually a bad idea if you want to get anything done because it makes you the story. And unless you are a sympathetic character (which Adelson is most definitely not), it is not good to be the story.
- Gilbert Horowitz, Gambling911.com
