Federal prosecutors Tuesday accused Full Tilt Poker, an online gambling operation, of running a global Ponzi scheme that siphoned $444 million from player accounts to pay off celebrity board members and cover business expenses. (more)
In case you hadn’t heard, the Golden State ain’t so golden these days, and Gov. Schwarzenegger is having a tough time finding a way to yank California out of a yawning financial hole. This is where gambling comes in.
The Democratic congressman from Massachusetts slams the GOP for its attempt to legislate morality in the realm of online poker (while Republicans hypocritically protect other forms of gambling). Money quote: “If we were to outlaw for adults everything that college students abuse we would all just sit at home and do nothing!”