Illinois Professor believes online casinos triggers much worse downturn
December 10, 2009, 10:13 am (8 years ago)
In spite of his hypothesis having been rejected and his academic studies wrecked by peer review, Illinois Professor John Kindt kept on finding national revelation amongst those who haven't been familiarized with his background in his attack against online casinos. "R&D" magazine has issued an article in which Kindt claims Internet gambling regulation could trigger an economic catastrophe as bad as the sub-prime mortgage collapse.
Kindt in a single sentence criticize Barney Frank for trying to tense up controls on Wall Street whilst mocking him for putting efforts into removing the limit on the free market that comprises the Internet gambling prohibition. Kindt states that controlling online casinos can trigger a big risky bubble on gaming operators that would explode, leading an even worse downturn. That logic would say that no new business is going to be developed, for fear of demented conjecture.
Kindt mentions the damage caused to the London Stock Exchange when the UIGEA was issued, without knowing it was the UIGEA and its inhibition of worldwide competition, not online gambling, that led the economic to fall.