Obama urges $75-billion bailout
for responsible Vegas gamblers
Some knew risks, but others were misled by 'predatory' blackjack dealers and 'hypnotic flashing lights' on slot machines, he says.
By J.P. Hutstuffer, Staff Writer
After bailing out AIG, Citibank and homeowners who signed up for mortgages they couldn't afford, President Obama now wants to rescue another group of financial washouts Las Vegas gamblers.
Although critics say the proposal would reward people who took dangerous risks, Obama insists the bailout is aimed at "responsible gamblers."
"Yes, some folks knew the odds when they placed bets," the president said. "But many were duped into emptying their wallets by predatory blackjack dealers, cheap cocktails and fancy slot machines with hypnotic flashing lights."
The $75-billion bailout package, officially known as the MGM-Mandalay Bay Recovery Act of 2009, also earmarks funds for arcade customers who spent all their money trying to win a stuffed animal from one of those claw vending machines.