Steve Wynn

6/25/2010 – Chris Banescu –

Steve Wynn, the American entrepreneur and casino resort/real-estate developer, was recently interviewed by CNBC for the opening of his new Encore Beach Club in Las Vegas. During the questions and answers session with the correspondent, the billionaire business owner addressed some of the most serious problems American companies face and the incompetent manner in which politicians in Washington, DC are handling the economic situation and the unpredictable manner in which they continue to aggressively punish US businesses.

In the interview Wynn talks about the lack of common sense that has disappeared in Washington and the completely out-of-control spending that is fueling the massive national debt:

“It’s common sense that’s disappeared in Washington DC. It’s common sense that’s disappeared in the years of 7 and 8 in America. We’re inheriting the awful results, both in our government … of wild, uncontrolled spending, unbelievable, unsustainable debt.

And yet, here we are, doing it again, $20 billion a month to the FHA. On top of what happens to Fannie Mae and Freddie Mac. We’re doing it again today for $20 billion a month! We’re destroying the housing market, again; under the name of a stimulus, phony misrepresented names.”

Steve then explains how China now offers more opportunities and a more stable and business-friendly environment than the United States:

Interviewer:
“What about the regulation and government oversight of working there [Macau, China] as opposed to here?”

Steve Wynn:
“Macau has been steady. The shocking, unexpected government is the one in Washington. That’s where we get surprises every day. That’s where taxes are changed every five minutes. That’s where you don’t know that to expect tomorrow. To compare political stability and predictability in China to Washington is like comparing Mount Everest to an anthill.

Macau and China is stable, Washington is not!

Is there a businessman or a media person in America that isn’t frightened about the next crazy idea that is coming from Washington. The financial institutions, the cars, the businessmen, the taxes, the health care, everything is Coo Coo. And God knows what’s next?

Regarding the massive health care bill that was passed earlier this year, Wynn correctly predicts that it will have the exact opposite effect that Washington lawmakers promised, it will raise the costs of health care and make things worse for everyone.

View more of the interview script on the Chris Banescu website.