Caesar said:
I played poker at the Wynn several times about six months ago. They had Fox News on all their TVs. I thought that was really strange. Poker rooms don't normally have news on; they usually have either sports or poker shows. Why would a Democrat choose to have Fox News on his poker room TVs? Seems strange, doesn't it?
Read the full transcript of what he said. He does indeed state he's a Democrat and supports Harry Reid. See here:
http://www.businessinsider.com/wynn-ceo-steve-wynn-conference-call-transcript-obama-2011-7
As for Fox News being on in the poker room, perhaps the players wanted it? Perhaps the spectators wanted it? I don't think he issued any executive directive to have Fox News on his TVs. Whatever the reason, it was probably not ideological (i.e. an attempt to promote free market sentiment) but rather business-related (i.e. to appeal to certain customers).
Shadroch said:
So Obama is creating an unsafe environment for business' to invest in, unlike the Red Chinese? That about sum it up?
That's not what Wynn said. Wynn clearly knows he needs to suck up to the Chinese government to make sure he keeps his Macau concession. Given how big and heavy-gambling the Chinese market is, this is a risk he's willing to take.
First, lets look at "Red Chinese." No offense Shad, but that's a misrepresentation. The Chinese Communist Party is Communist in name only. Their actual economic ideology is Corporatism, or Economic Fascism. They are not Marxists by any stretch of the imagination. In the Chinese system (as well as in most of Asia), large economic institutions are incorporated into the State.
Corporatism is a broad category and most economies including that of the US have elements of Corporatism. But Corporatism is far more entrenched, 'official' and accepted there than in the US. In the US, people will criticize it for what it is; an alliance of the State and certain special interests.
But I digress. The point is that China is not Communist any more. Fascist would be more accurate (and it actually arguably is; corporatist economics, authoritarian statism and nationalism are all important parts of the Chinese system, and all of them are very fascist in nature (note that whilst I disagree with fascism, I'm using the term descriptively rather than as a term of abuse)).
Now, lets end that digression. The "safety" of Wynn's investment in China is a function of how much he sucks up to the government. What Wynn is saying that doing business in China is easier than in the US in terms of 'red tape' (once, of course, the State's blessing has been secured).
Additionally, he's saying that the prospect of a large increase in red tape in the US economy is scaring businesses. Businesses don't like regulatory frameworks which are complex, inconsistent, unclear, or changing.
He then goes on to argue it is this 'regulatory uncertainty' that is prolonging the recession.
Sorry for that overly-long digression-filled reply. But I hope its an accurate summary.